CEO and podcast host Tom Freeley talks about the qualifications and the qualities of leaders. Leaders set goals, provide guidance, surround themselves with talented people and have a clear vision for teams and organizations. A leader also is an influencer of people, who can coach a group to achieve a common goal, and who is willing and able to ask for help. Trust and communication are key. Difficult and tough decisions are part of the job. Embrace them! Listen in for more of Tom’s thoughts on leadership.

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The deadline to comply with the Corporate Transparency Act is quickly approaching (December 31, 2024). What does that mean for homeowners’ associations, which are included in the BOI reporting requirements of the act? Which communities are exempt? What must beneficial owners file with the Department of Treasury and what are the penalties for non-compliance? Dawn Bauman, Senior Vice President of Government and Public Affairs for the Community Associations Institute and Executive Director of the Foundation for Community Association Research, provides an update on the legislation and CAI’s lawsuit to exempt community associations. While CAI continues to work with the Federal Government to repeal or delay the act, Bauman advises HOAs and boards to be prepared to comply by January 1.

Episode Resources:
https://caionline.org/cta

https://cacm.org/resources/corporate-transparency-act/

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This week guest host Alia Saouli of CACM sits down with Stephanie Romero of Aeroscopic Environmental to discuss all things health and wellness as it relates to community managers and the buildings they help look after. Tune in to listen to the topic of water damage like mold and how to look for signs. Plus, tips on how to prevent water damage and mitigate risk. Romero recommends insurance is reviewed and updated regularly to ensure proper coverage in the case of having to file a claim. In addition to keeping buildings in good shape, Saouli and Romero share ideas on how community managers can stay healthy and the importance of having a peer community to share both the ups and downs of their daily jobs.

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The HOA industry is in a very active phase of consolidation with mergers and acquisitions. But even as larger management corporations take over longstanding medium and small businesses, newcomers are entering the scene. Host Tom Freeley sits down with Laura Hurtado, CCAM-PM.CI, who recently launched Synergy Management Group in San Diego. After working many years in the industry managing all types of communities—from onsite self-managed to high rise, large scale and commercial associations—Hurtado broke out on her own to start a small business. Hear about her journey to becoming an entrepreneur, and what she’s doing to set her company apart.

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Homeowners’ associations should set aside anywhere from 15 to 40 percent of their annual budget to adequately fund reserves, says Reserve Specialist Matthew Swain. However, many boards and associations kick the can down the road and avoid setting aside money into their reserve fund because they don’t want to increase assessments. But if you treat reserves like an impound account on a mortgage, it will be easier for boards and associations to pay expenses when components fail or need to be replaced or repaired. In this episode, host Tom Freeley and Swain discuss how to approach a reserve budget, what a reserve study should cover, the three- part test for reserve studies, and national reserve study standards.

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In part two of this 2024 legislative update, community management executive Joseph Price weighs in on the balcony bill, the CID repair bill and the electronic voting bill, all which were recently signed into law. What now? How do you start to implement at the association level? It’s not going to be plug and play. Plus, the deadline to comply with the Corporate Transparency Act looms large and association boards have to act sooner rather than later. As it currently stands, there are no exemptions for homeowners’ associations. Take the time to learn about new legislation and the steps you will need to take, host Tom Freeley advises.

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The 2024 legislative season is over in California, but it was an action-packed thrill ride with many bills introduced that targeted common interest developments, or HOAs, in the state. Host Tom Freeley and attorney and CACM’s Legislative Advocate Jennifer Wada analyze the impact of three bills specifically: SB 900 (CID Repair and Maintenance), AB 2114 (Balcony Inspections) and AB 2159 (Electronic Voting). These were signed into law by Governor Gavin Newsom, with the balcony inspection bill becoming effective immediately. You will also hear about what went into defeating SB 1470, which was potentially very negative to the industry. Check out what goes on behind the scenes to make CID bills workable in California.

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The pink flamingo ban that turned into a temporary art installation at a community. A community manager that calls the authorities on a trespasser sleeping in the clubhouse, just to find out he’s the association’s board president. Plus, how a community manager tried to avoid serving a violation notice to Lorena Bobbitt. These are just some of the weird stories that will make you chuckle. You can’t make this stuff up! CEO and host Tom shares some of the crazy stories of managing and living in homeowners’ associations. You don’t want to miss this one!

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