WM Douglas Charlotte
We provide the full range of property management and financial services, with prime focus on communications with the Boards of Directors and the individual membership. Everyone at William Douglas Property Management prides themselves on providing proactive property management. Quality Management Since 1980 William Douglas Management has been providing quality association management services since 1980. We exclusively manage Homeowner Associations, Condominium Owner Associations, Town Home Owner Associations, Co-Ops, and Commercial Condominium Owners Associations.
The Public Insurance Adjuster & the Association. When disaster strikes an association such as fire, flood, hail damage etc., and a claim needs to be filed, a public insurance adjuster is the association’s advocate and can usually save an association thousands of dollars and in some instances hundreds of thousands of dollars.
According to experts on Property Management in Charlotte NC, a public insurance adjuster is an insurance claims adjuster who represents the association in appraising and negotiating the claim. A public adjuster principally appraises the damage claim, prepares an estimate and other claims documentation, reviews the insurance policy to determine coverage, and negotiates with the insurance company to maximize the association’s coverage. Typically the board of directors retains a public adjuster to document and expedite their claims, obtain a more satisfactory claim recovery, more quickly, and restore the damaged property more promptly. The Media = The Perception = The Reality. It seems like a week does not go by without a negative newspaper article or negative broadcast news story about an association somewhere.
Property Management Charlotte NC. Association Insurance. The Double Edged Sword Association master hazard insurance premiums are going up and in some cases rising at double digit percentages.
Even worse, many insurance companies are dropping coverage for high risk associations. Causes: Recent catastrophic weather events have devastated insurance company profits. The lackluster stock market has negatively effected many insurance company stock investments. Excessive claims filed. Whatever the cause, it is apparent that insurance companies are raising their premiums and taking less risk. What Can Be Done: There are a number of options that need to be considered. Collaborative Decision Making. Association Boards and Managers must strive to meet the needs of the entire membership.
Unfortunately, within this process, the Board and the Manager rarely please everyone. However, engaging in a proactive and collaborative decision making process can reduce or even eliminate conflicts within the association. 9 Keys To Handling Challenging Personalities. “People’s personalities, like buildings, have various facades, some pleasant to view, some not.” – Francois de la Rochefoucauld Every association membership is different, but there seems to be one constant: there are always members who seem to take a non-positive view on issues that the board addresses within the association.
Board members often cite this negativity as one of the most frustrating factors of serving on a board of directors. Through our 30 plus years of association management experience, we have encountered many challenging people and challenging situations. We have experienced members who seem to be critical of every action that a board takes, and members who refuse to cooperate for the good of the association.
Avoiding or hiding from these members might be possible, but it may not be a long term solution to challenging members. We have found the following 8 points are helpful in dealing with challenging members: Point 2: Seek counsel of others. Point 9: Last Resort. Property Management Charlotte NC. Decision Making Process – wmdouglascharlotte. The process of decision making generally analyzes a problem in stages until a viable solution develops.
It involves choosing the best alternative after defining the issue and identifying the desirable outcome. The process of decision making includes choosing an action to reach a goal after weighing the attributes of each alternative. Decisions might be made by a group or by one person who compares options. Annual Meeting Basics. The Basics of Insurance and the Homeowners Association – Insurance Cancellation. This is the fifth part of five chapters, each one treating one important basic aspect of insurance: Association Insurance is generally canceled for three primary reasons: Excessive claims in a policy period – generally speaking, an association would not have their insurance cancelled for an occasional claim over a period of years – even if one claim is major.
But if there are too many claims during a policy year, an insurance company may cancel the insurance policy. Repetitive claims of a similar nature, especially water damage claims, are very concerning to an insurance carrier because they indicate a much higher probability of additional claims in the future. This is why it is important to know the policy’s deductible and in certain situations possibly self insure for some claims. The Basics of Insurance and the Homeowners Association – Insurability Risks. This is the fourth part of five chapters, each one treating one important basic aspect of insurance: Insurable risks typically share seven common characteristics: A large number of uniform exposure units: The existence of a large number of homogeneous exposure units allows insurers to benefit from the so-called “law of large numbers,” which in effect states that as the number of exposure units increases, the actual results are increasingly likely to become close to expected results.
The exception to the large number of uniform exposure units criterion is with Lloyd’s of London. Lloyd’s of London is a secondary insurance provider that insures high risk exposures such as associations that have been canceled in the primary market because of claims issues.Definite Loss: The event that gives rise to the loss that is subject to insurance should, at least in principle, take place at a known time, in a known place, and from a known cause. Like this: Like Loading...
The Basics of Insurance and the Homeowners Association – Part III – wmdouglascharlotte. This is the third part of five chapters, each one treating one important basic aspect of insurance: Insurance ProfessionalsTypical Association Insurance CoverageWhat is Insurance Coverage & What is Not Insurance CoverageWhat are Insurability RisksInsurance Cancellation Insurance is coverage by contract where one party undertakes to indemnify or guarantee another against loss by a specified contingency or peril.
The Basics of Insurance and the Homeowners Association – Part II. The Basics of Insurance and the Homeowners Association – Part I. Insurance is one of those funny things in life, as in funny strange.
Premiums are faithfully paid to have insurance coverage but, what is strange is, even though premiums are paid, filing an insurance claim can result in premiums rising or, in the worst case scenario, the insurance policy being canceled. The insurance that a homeowners’ association has to maintain deserves special deliberation to help continue with reasonable and affordable coverage. What to do? Or what not to do is probably more beneficial to know in understanding how association insurance works, and how to avoid problems with continued coverage and even possibly obtaining coverage. Directors & Officers Insurance. Directors and Officers liability insurance (D&O) provides coverage in the event of a lawsuit claiming some Board or individual Directors’ act or omission. D&O insurance does not protect the association when a claim is made for personal injury or property damage as a result of negligent actions of the Board of Directors.
Personal injury and property damage claims generally fall under the general liability policy of the association. However, if a Board or individual Director knowingly violates the association’s governing documents or applicable law, D&O insurance will not generally provide coverage. Annual Meeting Basic Glossary. Annual Meeting. Tips to Organize Successful Board Meetings. How to Organize Online Meetings. It seems these days everyone’s schedules are more hectic than ever, and board members schedules are no different. Because of scheduling difficulty and, in some cases, convenience, we have boards of directors that hold their board meetings via online services such as Skype, GoToMeeting, and Google Plus Hangouts.
With these online services, board members have the ability to hear one another through microphones and speakers and to view each other through video cameras, regardless of where the other board members are located. These services also allow board members to share architectural plans, vendor proposals, or other documents that are circulated during the meeting. While these are virtual meetings, they must be conducted in the same legal manner in which board meeting would be held. There must be a quorum, called to order, minutes taken, etc. However, an alternative may be to vote by written consent. How to Find Volunteers. Maybe you’ve been to the meetings where the person who failed to show up for the meeting is “volunteered” to serve on a committee. Well, there are better and more effective methods of finding volunteers. Besides sitting on association boards, volunteers are the same people sitting on church committees, coaching little league, serving as Cub Scout leaders, and are out fundraising for various causes.
These are the people who when they move into your association, are able to help and in most cases want to help, but may not know there is a need. Why Members Volunteer Association members become volunteers many times because they feel good about contributing to a positive cause. Respect – Are board and committee members interacting in a manner that is courteous and respectful of all opinions?
Time – Are the association meetings, board or committee, organized and structured to maximize everyone’s time? Most association meetings generally last an hour to an hour and half. Like this: