What You Need to Know Now about Community Associations in a COVID-19 Environment

What You Need to Know Now about Community Associations in a COVID-19 Environment
 

 

What are some things you want your audience to know right now?
*Community associations need to pivot just like businesses.
*We recommend coming together as a board virtually and looking at budgets. Owners will need to pay assessments, but many may have lost income. Can you adjust assessments? Can you change timing to support your community if needed?

Things to consider as an association:
*Humanity first. Let your residents know that you are there to support them any way you can.
*Communication needs to shift to a virtual world.
*Boards should meet virtually to look at where they can cut expenses and renegotiate contracts. They’ll also need to start looking at how to help residents deal with assessments that they may now not be able to pay.
*Associations are not for profits and are eligible for some of the SBA disaster funding.

Community Associations in a Virtual World—Where to Start?
Level 1: Do a conference call, send out the number, and let people call in.
Level 2: Conduct video chats for meetings (Zoom, Google Hangouts)
Start somewhere, anywhere!

How are you supporting current clients or prospects? What can you provide?
Emergency COVID questions on things like common elements, visitors, screening, testing positive etc. We are here to help with any questions you have during this time of uncertainty.

Other ways we can help:
*Send us your budgets.
*Let us look at your contracts see if we can help you renegotiate
*Force majeure clauses
*Amendment projects
*Covenant revitalization

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