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066 | Sleepless Nights: Avoiding Costly HOA Lawsuits

EPISODE · Aug 12, 2024 · 33 MIN

066 | Sleepless Nights: Avoiding Costly HOA Lawsuits

from HOA Insights: Common Sense for Common Areas · host Hosts: Robert Nordlund, Kevin Davis, Julie Adamen

Send us Fan MailWanting to avoid costly HOA lawsuits? Today we’re giving some expert tips on financial planning, governance, and effective communication to help your community associations! ✅ Is a Reserve Study right for you? 👉 https://www.reservestudy.com/So you’ve heard of these costly HOA Lawsuits… Maybe your community has already gone through one. Well, today we hope we can help (and prevent) these scenarios from happening! Kevin Davis and Sherry Branson break down the critical steps homeowners associations must take to avoid costly lawsuits. From understanding fiduciary duties to dealing with deferred maintenance, this conversation highlights the importance of financial planning, clear communication, and strong governance. Learn how selective enforcement can lead to legal issues and why maintaining transparency with homeowners is key. If you're a board member or involved in HOA management, these insights could save your community from financial headaches and help build a more harmonious environment!Chapters From This Episode:00:00 Things that get an HOA in trouble… 02:36 Pressing trends & issues facing HOAs for larger lawsuits03:53 Breach of Fiduciary Duty Claims 07:58 Problems come into play for HOAs when it comes to deferred maintenance13:51 Selective Enforcement - You’re gonna have a bad time19:13 Ad Break - FiPhO Score 19:45 Tips to deal with financial issues and reducing a claim size26:18 Communication Tips for HOAs (Stop these issues before they happen!)Podcast Links:Full Episode ListWatch On YoutubeEngage in the conversation!Call our 24/7 voicemail line at (805) 203-3130 or send an email or voice memo to [email protected] yourself or a Board Hero you Know!Board Hero NominationsBoardmember Merch Store!Connect with Hosts on LinkedInJulie AdamenKevin Davis, CIRMSRobert Nordlund, PESupport Our SponsorsAssociation Insights & MarketplaceAssociation ReservesCommunity FinancialsKevin Davis Insurance ServicesStoke Light Video & MarketingThe Inspectors of Election

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066 | Sleepless Nights: Avoiding Costly HOA Lawsuits

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