It's
that time of year. Budget time, election time and annual meeting
time. But the biggest decision you'll make is to reserve or not
to reserve! Every year during this time Boards consider whether
or not to vote to waive reserves. NO ONE wants to pay higher
monthly maintenance fees. But waving reserves is the wrong
decision. No matter how you look at it.
The
average percentage of your monthly assessment allocated to
reserves is 12-18%. Let's say your monthly fee is $400.00, and
then an estimated $60.00 is applied to reserves. Would you
rather have $60.00 per month going to your reserves OR receive a
special assessment for emergency repairs that could be thousands
of dollars and due within a 30-day notice?
We
live in a world where instant gratification is expected and many
Homeowners feel they shouldn't be paying for something they
won't ever receive until the future! This thinking is dangerous
and in the event reserves are waived, and a major repair is
necessary, Homeowners will get blindsided by a special
assessment. Please think carefully before you vote to waive your
reserves.
Darlys
Walker, Founder and CEO of Condominium Concepts
Management, Inc. (CCM), is recognized for her straight
talk, subject matter expertise, and valued insights
regarding real
estate
management, leasing, and HOAs. Her company serves a diverse
portfolio of properties, from 16-units up to 600 as well as
large mixed-use developments.
From its beginnings in 2000, CCM has become a well-respected
asset manager and now works with over 100 associations with
16,000 units served by over 300 employees. Darlys and her team
deliver resources and responsiveness through six regional
offices - in
Orlando, Miami, Jacksonville, Charleston,
Nashville
and Atlanta.
Darlys Walker is best known for her passion and precision,
understanding that the only difference that matters in today's
demanding marketplace is service delivery ... doing what is
promised and what is right. She knows that every community
serves two masters ... the property owner/developer and the
resident/homeowner. "If we are not equally responsive to
both, we are not doing our job," she states.
Her clients say it best: "Darlys really knows her
stuff" ... "at the top of her profession and it shows
in the caliber of her clients" ... "delivers quality
resources that match up well with needs and expectations that
are really rigorous."
She is a licensed Real Estate Broker in four states, holds an
Associate's Degree in Marketing and has earned the Accredited
Real Estate Manager designation from the Georgia Institute of
Real Estate Management. Also she is one of few certified as a
Lead-Based Paint Abatement & Removal Trainer in Georgia.
