LCS Mgt. Services

Tips for Holiday Home Safety By Compiled by Lexi Walters
1. Carefully inspect holiday light strings each year and discard any with frayed cords, cracked lamp holders, or loose connections. When replacing bulbs, unplug the light string and be sure to match voltage and wattage to the original bulb....

Administrative Services: Guide and assist members of the Board in the performance of their obligations. Guide and assist the Board in the development of policies and procedures. As requested by the Board, assist in the administration of the provisions of the Declaration, Articles of Incorporation...

Poor Risk Management: We have seen some community Boards try to save money by not being adequately covered against risks. Some examples are: Hiring a handyman or other workers that don’t have workman’s compensation insurance. Or having a contractor start a project without first getting an updated...

Lack of Understanding of How to Operate a Community: Some of the problems faced are not what you encounter at work and the scale of problems are much larger than if you previously owned a house. The lack of knowledge can lead to 1) making mistakes that cost money and 2) taking more time at doing ...

One Top Problem with Self-Managing your Condo or HOA and Solutions
Concerns About Safeguarding Funds: We have come across several common issues with self-managed communities regarding the safekeeping of money. Some boards don’t feel comfortable bothering their neighbors about money and the associ...

Frivolous Lawsuits
Suing your HOA is suing yourself and your neighbors. It may not be clear to some but people filing false claims is a threat many HOA's face. An HOA is ONLY funded by its members FOR its members. All the money the HOA has in its budget comes from the membership itself. Those me...

"Injunctive Relief" Affords HOAs and Their Members a Means for Enforcing Governing Documents

"Injunctive relief" is a form of equitable relief that is granted by a judge pursuant to a court proceeding involving issues where monetary relief in the form of money damages will not be adequate becaus...

Do a budget – An HOA is just like any other business or organization. If you don’t have a financial plan, you will find yourself a in a mess about halfway through the year when you realize that you don’t have enough funds to make it through the entire year.
Review budget and Financial History...

HOA Reserves, Special Assessments, Loans
The best-run HOA's have boards that are smart with money. Those boards manage their owners' money with care, and when they have unplanned projects that require additional funding, they're equally methodical and thoughtful.
What do those boards do that's so...