article thumbnail

Financial impacts: What the costs of COVID-19 mean for community associations

Ungrated

Higher operating expenses and unanticipated costs due to the ongoing global crisis pose challenges to association budget projections, reserves planning, and maintenance requirements. While companies can’t expect to pass all of these costs to their clients, some percentage must be recovered to remain operational. Comment below.

Cost 108
article thumbnail

Insurance coverage: Communities report significant challenges with rising premiums

Ungrated

Some communities in the state have seen insurance coverage costs double or triple in a single year. Recently, the California Fair Plan Association expanded its insurance coverage options for community associations, as reported by The San Diego Union-Tribune. But it is not going to be, and cannot be, the final solution.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Rate shock: Skyrocketing insurance premiums straining community associations

Ungrated

That means that if an owner can no longer afford to live in their community because of the increased costs of insurance, they might not be able to find anyone to buy the home, Lilley says. Fannie Mae and Freddie Mac secure low-cost, conventional loans for mortgages issued by credit unions, banks, and other financial institutions.

article thumbnail

Insurance coverage: Communities report significant challenges with rising premiums

Ungrated

Some communities in the state have seen insurance coverage costs double or triple in a single year. Recently, the California Fair Plan Association expanded its insurance coverage options for community associations, as reported by The San Diego Union-Tribune. But it is not going to be, and cannot be, the final solution.

article thumbnail

2016: An Association Blogging and Podcasting Odyssey

Spark Consulting

I remember participating in my first bloggercon at ASAE in a sunny plaza in San Diego in 2008, shortly after I’d launched Thanks For Playing, the precursor to the Spark blog, with about 30 other association professionals, sharing our thoughts about how to use this new platform to strengthen our industry and our community.

San Diego 150
article thumbnail

Golden State collaboration: CAI California chapters discuss year ahead

Ungrated

Chapter executive directors and board leaders from San Diego and Sacramento to the Pacific Ocean, the Sierra Nevada, and everywhere between discussed the new issues communities are facing—rising insurance rates, supply chain delays, and safety concerns—to the recurring such as drought, wildfires, and legislative issues.

article thumbnail

Embracing change: Adapting community association management to a pandemic

Ungrated

Karen Martinez, chief executive officer at ASPM-San Diego, says a transition to cloud-based technologies in 2019 facilitated remote work for its administrative staff. “The transition has allowed us to expand from central Oregon throughout the state, implementing greater flexibility for staff,” Maxwell remarks.