It should be noted that a homeowners’ association is different than a property owners’ association. The most significant difference between an HOA and a POA is that POAs may include anyone in the community interested in real estate. In other words, POAs could consist of those who are not h...
Property damage:The master policy protects the common areas much in the same wayhomeowners insuranceprotects a home. If a covered loss, like a fire or wind incident, damages a shared space for which your HOA is responsible, this portion of the policy could cover the repairs. ...
homeowners association, is a self-governing organization in “common-interest” communities where homeowners collectively pay fees to maintain the units or neighborhood. HOAs are typically run by resident homeowners, unpaid volunteers who are elected to a board of directors that oversees the HOA’s ...
What Is Common Area Maintenance? Common area maintenance (CAM) is the cost your business pays for the areas in a commercial building that are common to all tenants. Look at it this way: When you lease a commercial building, you are paying for two separate areas, the usable area and the...
As with any neighborhood governed by an HOA, gated communities bring several rules and regulations – the appeal of which is often subjective. For instance, HOAs often enforce standards regarding home exteriors; and where one resident might enjoy a neighborhood with a cohesive aesthetic and no chip...
common areas during the day for the unforeseeable future. The rules may have to change. For example, communities usually have rules against creating a nuisance condition; is having a fever and continuing to use common areas like the laundry room, rooftop recreational area, gym, playrooms, pool...
When something appears totally anomalous—for example, a person who stays within the San Francisco Bay Area most of the time suddenly making late-night purchases in Florida—it flags it as potentially fraudulent. The computing power needed for this is simplified significantly with graph analytics. ...
tenants would receive an unpleasant surprise when they receive the bill for the additional expenses they owe. If the difference is significant, it can be problematic for either party who must pay. Therefore, landlords must estimate CAM costs as accurately as possible to make CAM reconciliation less...
What are Common Area Maintenance (CAM) expenses? Common area maintenance is one of the three main components that make up operating expenses, the other two being insurance and property taxes. This, in turn, makes CAM part of what is called a Triple Net (NNN) Lease. ...
A homeowners association (HOA) is an organization in a subdivision, planned community, orcondominiumbuilding that makes and enforces rules for the properties and residents. Homeowners associations are run by a board of directors and typically collect monthly or annual fees to pay for common area ma...