|
It's June, Let the Sunshine In!
|
After waiting out the rains of springtime, we simply cannot run fast enough to complete maintenance projects. Rain left the landscape supply yards with sodden piles of mud so the repairs to lawns were postponed. Early leaves that spouted were burned by the last frost and sent many co-owners into a panic that their trees were dying. Not to be left out of the action, insects are actively burrowing and building nests, keeping the pest control contractors on the road.
Despite the adversity we face in the Michigan spring, we are happy to welcome summer with open arms and are eager to get to work on all of your planned projects for the season.
The phone activity has greatly increased with most snow birds back from their seasonal home, so we are implementing a few changes to our office procedures to insure that we are able to handle your community member's maintenance needs. We are sure that our new procedures will be a benefit to you as board members, as well as all of your fellow co-owners that we provide service to.
We would also like to welcome to our family of managed communities, Wyndham Estates Home Owners Association in Fenton.
|
|
Personal Payments at the Cummings Office
|
 Effective July 1, 2013, we will no longer be accepting condo fee payments at the reception desk. We will be asking that all co-owners avail themselves of the online payment options we provide, mail their payments in the supplied addressed payment envelopes or drop off checks in our drop box which is checked twice daily. Their receipt will be their cancelled check.Please pass this information along to your co-owners in any e-mails or newsletters that you and your board plan on distributing soon. |
|
|
|
|
New Scrutiny from Mortgage Lenders
Mortgage and Title companies are burning up the phone lines in their attempt to refinance current loans for co-owners and to qualify new purchasers. Fidelity bond coverage is being requested for FHA approved and non approved communities.
The coverage amount banks are seeking is equal to the amount of the association's total reserves plus one and a half times the monthly condominium fee assessment plus naming the management company as additionally insured. On June 10, 2013, at 6:00 PM at the Flint office we will again be presenting a training session on Criminal intent: Protecting your Association with Fidelity Bonds. Visit our Seminar Page to register for the event.
Click on the link below for a great article on the latest hoops that condo owners and buyers must jump through for mortgage lenders.
|
How Banks are Handling Condo Lending
Mortgages Made Easy Discussion Between Fox Business, Condo Vultures - Condo Vultures ® This is a great brief video segment on some of the complexities that mortgage lenders have introduced into the condominium market. As a condo owner, it's important to know what the banks are doing to either help or hinder a prospective condo buyer and how it effects your Association in terms of resale value and ability to re-finance. Watch Here
|
Kay's Blog- Reserves and Failing to save
There are so many aspects of our daily life where we know what should be done but circumstances prevent us from following the "little voice" in our head. We know we should exercise, eat healthy food, and schedule annual health check-up. Most of us ashamedly admit to falling short of the healthy high water mark regardless of future consequences.
Read More
|
|
 Exploring Fidelity Bond Insurance
This is an encore of our May 16th seminar. Because surety and fidelity bonds are a risk management tool, it is helpful to discuss your Association needs with your insurance agent. As a group, we plan to discuss this issue in depth. The goal is that you will understand what a bond is, when it's required in your association, and how to get it. Register Here |
