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September Survey Results
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Does your board conduct an annual performance review of its managers?
Yes 24%
No 76%
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Allocating Insurance Deductibles
The past few years have seen association insurance premiums rise dramatically. Whereas deductibles on association policies were typically $1,000 not many years ago, today it is more common for associations to have $2,500, $5,000 or even $10,000 deductibles. As insurance deductibles continue to increase, associations are reviewing how to allocate those deductibles. The Colorado Common Interest Ownership Act allows associations to adopt reasonable guidelines concerning the allocation of deductibles.
[FULL STORY]
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Trial of the Month: In-home Business
Orten & Hindman enjoyed recent success in Arapahoe District Court concerning a neighbor dispute which led to litigation involving a homeowners association. A neighbor disputed another neighbor’s in-home business involving personal fitness training.
[FULL STORY]
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Avoiding Toxic Mold Insurance Claims
Associations are becoming all too familiar with the increasing difficulty in obtaining and keeping insurance coverage. As the insurance market gets more and more difficult, the need to minimize claims for expensive items such as toxic mold litigation becomes more and more important. No association can completely safeguard itself from lawsuits, however, there are steps the association can take to minimize its risks.
[FULL STORY]
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Boomer Shock
In the next decade, Baby Boomers will swell the ranks of the population over age 65, and they will be with us longer than any other demographic group in the nation’s history thanks to improved nutrition, advanced health care, and eradication and control of disease that have come about during their lifetimes. Few associations are prepared for the inevitable effect this will have on their communities. Here are the top ten reasons why.
[FULL STORY]
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Recover Deductions After a Disaster
When natural disasters, such as Hurricanes Charley & Ivan, strike your home or business, the results can be devastating—especially if the losses aren’t fully covered by insurance or your insurance claim is contested. Fortunately, you may be able to get help from Uncle Sam by claiming a casualty loss deduction on your tax return. If your region is officially designated as a Presidential Disaster Area (as parts of Florida were last week), you don’t even have to wait until you file your 2004 return.
[FULL STORY]
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Q & A
Each month we read legal related questions submitted by our readers.
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Community Associations Institute
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The Community Associations Institute (CAI) is a nonprofit organization that provides education and resources to community associations. To find out more about CAI visit www.caionline.org
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