Mike Stonestreet, CMCA, PCAM, AMS, is the co-owner and president of Community Association Management Services, or CAMS. Stonestreet works daily with community managers and their respective association boards of directors regardin
What are reserve funds and what are they used for? Reserve funds are broken down into capital and non-capital expenses; capital would be replacing a roof; non-capital would be painting. These are IRS ...
Homeowners can often have differing views of their community associations — some positive, some negative — depending on their source of information and experiences in the community. ...
At CAMS, we’ve seen through the years how positive — and necessary — change can be for homeowner’s associations (HOAs). Generally, we recommend every association do what we wou ...
Tax season isn’t just a fun time for residents and businesses in North Carolina, it’s also a big piece of the financial puzzle for homeowners associations (HOAs). As complicated as federal ...
If you live in a community with a homeowner’s association (HOA), you no doubt have seen signs, received emails, or even had people knocking on your door to alert you about HOA meetings. There ar ...
Homeowners often have differing views of their individual homeowner’s associations (HOA). One thing everyone can typically agree on is that one of the primary responsibilities of an HOA is to ma ...
Serving as a board member of a homeowners association (HOA) can be an incredibly valuable and rewarding experience. That said, it is serious business as there are of responsibilities associated with p ...
Community management companies, like the rest of the world, are being targeted for fraud and the threats are growing. This includes people attempting to cash fake checks at local banks, embezzlement, ...
Homeowners associations (HOAs) provide many benefits to residents, from managing amenities to maintaining common areas and enforcing the association’s rules and regulations. Homeowner compliance ...
With all the new construction in the Wilmington area and throughout our great state, it comes as no surprise that we are seeing increases in the number of homeowners’ associations (HOAs). HOAs a ...
The concept of flood zones has been changing as more areas which historically haven’t flooded have begun seeing more instances of water intrusion whether it be from rain, nearby bodies of water ...
Many in the Carolinas are still catching their breath after Hurricane Florence, even as we enter into another season of hurricane preparedness. Here at CAMS, we’re taking what we’ve learne ...
As we at CAMS know all too well, at times it can seem as if community management professionals are speaking their own language. HOA, POA, CAI, AMS, CMCA… all that acronym-speak can be harder ...
Let’s face it, we all need rules. Knowing what’s acceptable and – perhaps more importantly, what isn’t – helps set standards and define expectations and consequences. ...
Maybe you bought your property as an investment. Perhaps your circumstances in life have changed, and you now need to downsize – or go bigger. Or your job could be relocating you across the coun ...
Want to give the exterior of your home a fresh new look… in your favorite shade of pink? If you live in a community association, chances are you can’t break out the paint cans just yet ...
Summer is the season for outdoor celebration. Between backyard barbecues, pool parties, graduation shindigs and 4th of July festivities, your calendar may already be full of weekend and after-hours ...
Remember shag carpet? Wood paneling? Avocado-green kitchens? Once the “in” choices in home décor, these styles have since – and, perhaps, fortunately – fallen by the ...
The coastal Carolinas affords lots of opportunities to surround yourself with picturesque views right from your patio. Unfortunately, that scenery can sometimes come with a few unwanted guests &nda ...
You’ve settled into your dream house and with the free time you now have to do some volunteer work, you have decided to join your community association board to be active in – and an adv ...
The trick-or-treaters have come and gone, and there is an ever-so-slight briskness in the air. That means the holidays – and all the twinkling lights, festive decorations and parties that com ...
Over the years, technology has dramatically changed the way community and condominium associations bill and receive payments for owner assessments, sometimes referred to as dues. When I first sta ...
As a professional community manager for the past two decades, I have seen a rapid growth in the number of service animals within condominium and community associations. Currently, about 79. ...
Being involved with a condominium or community association can sometimes make you feel like a Jack-of-all-trades. Homeowners often expect professional managers and community volunteers – offi ...
Spring has arrived, which means swimming pool season is just around the corner. Pools are an attractive and important amenity for a lot of condominium and community associations, since it i ...
There are various opinions on the role of community and condominium associations. But, generally speaking, the main purpose and authority of the association are to maintain common elements and ensur ...
One of the most important responsibilities of a property or condominium association board of directors is protecting the association’s funds. In doing so, it is important for the board o ...
A recent North Carolina Sales Tax law has a direct impact on the budget of just about every property owners association. On July 1, the state legislature passed House Bill 1030 - Current Op ...
There are many reasons people buy a home in a condominium or community association. Some great reasons include the availability and shared expense of recreational amenities, architectural style, affor ...
For every association, there is a point when members should take over leadership and control from the developer. An association’s declaration and bylaws will stipulate when the developer is re ...
Managing startup condominiums and communities is a unique job. There should be a community manager with experience working as part of a team, and that team should include other professionals in addi ...
A condominium or community association’s annual membership meeting requires thorough preparation to be successful. One of the first things a manager or board should do is review th ...
In my previous two articles, I discussed preparation for catastrophic events and post-event site assessment. There are a few final steps to disaster recovery for associations, though, and those are se ...
Does your association have a post-hurricane and disaster event plan in place? As I discussed in my last article, preparation is key for property owner associations when it comes to being ready for cat ...
Is your association ready for a disaster or catastrophic event? A plan is critical year-round, but for the Cape Fear region, it is particularly important to be prepared for hurricanes and floods. &nb ...
When it comes to community and condominium associations, one of the hottest topics is assessments, often referred to as dues. After 25 years of managing associations, we’ve learned that whe ...
Community and condominium associations are implemented by the developer of the community or condominium. For some associations, this can mean that they are governed by documents that may be quite old, ...
If your association has landscaped common areas, then you should have a grounds maintenance (landscaping) contract for the association in place. The key to being successful long-term with any landscap ...
When it comes to your property owners association, there are a lot of terms that may be new or perhaps not clear. As you look through relevant documents and governing contracts, you have to understand ...
CAMS is thrilled to be celebrating its 25th year of operation, a decided rarity in the community association management business. These days, most community association management companies have a lif ...
Most condominium and community association developments along the coast of North Carolina and South Carolina were created and developed beginning in the mid-1980s. Many of these associations are now a ...
Is your condominium or community association required to manage a stormwater system? This can be a tricky issue to navigate. In 1991, the North Carolina Division of Water Quality (DWQ) establ ...
If you own a boat slip in a boating facility with other boat slip owners, you are probably part of a marina association. This type of association is commonly referred to as a marina association but it ...
If you live in a condominium or a community with multifamily buildings, it is important for the condominium or property owners’ association, as well as the individual owners of the units, to kno ...
Community associations are commonly referred to as homeowner associations, property owner associations, townhome associations, planned community associations or single-family neighborhoods. The vast m ...
Common areas of a community are vitally important. Not only do they ensure a better quality of life for residents, they also help the resale value of properties. So it makes sense that two of the most ...
As far as the effective management of a condominium or community association is concerned, it’s critical to hold an organizational meeting of the board of directors following its election. In fa ...
In my last article I shared my disbelief that there isn’t a law requiring property owners associations to conduct reserve fund studies. Managing an association without a reserve fund study is ak ...
Considering that it’s a good idea to have reserve funds for long-term capital and maintenance expenses, I am always surprised when I am asked that question. The answer is even more surprising, s ...
It’s that time of year when board members and financial committee members convene to start the annual budget preparation for their property owners associations. Setting a budget can be an intimi ...
One of the chief complaints I hear from potential clients is that it’s a confusing, time-consuming chore to ensure their property owners association is in full compliance with local, state and f ...
The short answer is no. A professional management company such as Community Association Management Services (CAMS) will assist in the successful operation of the homeowners’ association by carry ...
From leaky roofs and broken seawalls, to poorly written contracts and special assessments, there are many aspects of association management that require experience and a depth of knowledge. For tho ...
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The 2019 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.
