Taking the Headache out of HOA Management.

The day to day responsibilities of running a homeowners' association (HOA) can be quite challenging. This is especially true for large to mid-sized communities. If you are weighing the pros and cons of hiring a community management company, here are some points to consider.

• Management Experience - A community management company such as Alaska Management Group will help you more clearly define the rules and regulations of your HOA for the homeowner. They can assist your homeowners’ association in deciding the most effective policies and procedures and can assist you in the implementation of guidelines, regulations and how to efficiently communicate any changes to the members of your community.
• Community rule enforcement – The most successful HOA’s are consistent in how they enforce the rules and regulations. A community management company will help to define and enforce the rules and help the HOA make decisions if issues arise. Additionally, they can help to enforce rules in a timely and efficient manner holding all members of the community to the same expectations.
• Legal understanding -  Knowing the day-to-day functions of an HOA is crucial to creating regulations that are legally enforceable. A community management company has a clear understanding of not only what is fair and reasonable for an HOA but also a knowledge of local and state laws. They also are able to keep HOA board members up-to-date on any changes to ordinances that might impact the decisions they make.
• Experience – Partnering with a community management company brings a full range of experience to your HOA. They bring both oversight and administrative services, taking the hassle of dealing with the day-to-day issues out of your hands.
• Committed to excellent – At Alaska Management Group, we believe that we are only as good as the communities we serve. Because of this, we take our community management responsibilities very seriously and work to serve the best interests of both the HOA board members and the residents of the community.

Creating the best environment for homeowners starts with working with a reputable community management company. Alaska Management Group can provide your HOA expertise and knowledge as well as clarity and consistency both the development and enforcement of regulations set in place for your community. This will help to facilitate a  harmonious environment for every homeowner.

What You May Not Know About Homeowner’s Insurance

Homeowners insurance is an important way to protect one of the largest investments you own. In addition to providing assistance should you need to repair something in your home, it can also protect your financial future. Knowing what to expect when seeking out homeowner’s insurance is an important step in ensuring you are covered if the unplanned happens.

 

Policy types

While homeowner’s insurance is standard in most areas of the United States, there are special considerations depending upon where you live and your specific requirements.

 

• Perils coverage is an important insurance rider that protects against many types of disasters including theft, tornadoes, and fires. If you have named perils coverage, it will define the specific disasters that are covered. Open perils coverage protects both your home structure and personal property, while condo or co-op owners should select a policy that covers the structural parts of the building that they own as well as their belongings.
•  Cash value coverage will pay for or repair property and possessions based on the policy limits minus a deduction for depreciation.
•  Replacement cost coverage will pay to repair or replace your property or possessions based on the policy limits without a depreciation deduction.
•  Guaranteed replacement cost coverage gives homeowners the highest protection on their belongings because it replaces your home to its pre-disaster state even if it costs more than the policy limit.

 

Type of damage

It is important to know that not every type of damage will be covered by your homeowner’s insurance. For example, some policies will only cover something sudden or accidental but will not cover incidents that occur over several months such as water damage from a leaky faucet. Additionally, certain natural disasters might also be exempt if you do not have an additional rider. These might include earthquakes and floods.

 

Personal belonging coverage

It is important to ask if there are any limits on the amount of coverage for your personal belongings. Items of high value may only be covered for a certain amount. Additionally, possessions that are damaged or stolen while you away from your home also may not be covered.

 

At Alaska Management Group and Bonanza Realty, we provide our clients with guidance to make the right decisions about everything related to home buying and home management. Contact our team to learn more about our management services. 

Gain Peace of Mind by Having the Right Condo Insurance

Imagine coming home from work and finding your condo’s front door broken and your new television missing. Once you recover from the shock, you’ll probably think to call your condominium association about replacing the door and lock, but what about your personal property and any damage inside the condo? Typically, the condo association’s policy will cover external areas and, depending on the association, may help with the interior damage. Personal property, however, must be insured by the condo owner. 

Some condominium associations offer coverage  referred to as “all-in”, which covers not only the exterior of the unit, but also some of the things inside the condo, such as carpeting, appliances, and fixtures. Other associations offer coverage for only the exterior, which means that the condo owner is responsible for essentially everything within the unit. It’s critical to know what type of insurance coverage your condo association offers before you speak with your insurance agent. 

Not only will condo owners’ insurance cover loss or damage to your property, it should also cover damages in the event that someone is injured in your condominium. This would include someone slipping and injuring himself on a wet floor, for example, including resulting medical bills and possible legal actions. 

When purchasing a condo policy, first determine the value of your belongings. The best place to start is to make an itemized list of those belongings that would need to be replaced. Keeping serial numbers and photos of items will make things much easier if you ever need to make a claim. Bear in mind that most policies will pay “Actual Cash Value” (or ACV) for your belongings, which means that depreciation is taken into consideration. Replacement cost coverage is also available, typically at a somewhat higher cost. If you have items of very high value, like jewelry or artwork, you may need to purchase additional coverage. Insurance will cover loss or damage to your property for some weather events, with the exception of natural disasters like earthquakes, floods and landslides. If your area is in a zone that is prone to these events, you may need to purchase extra coverage.

Condo ownership is different from traditional home ownership in many ways, including insurance requirements. Your insurance agent can help you select the right policy and give you the peace of mind so that you can enjoy your condo. 

For over 35 years, Alaska Management Group has been meeting the property management needs of associations and planned communities throughout Alaska, including Anchorage, Palmer, Eagle River, Wasilla, and more. To learn more about us, please visit http://www.bonanzarealty.net/ or call (907) 333-1244. 

Ward Against Winter Burglars

“Oh the weather outside is frightful…”  Winter weather can conjure up images of cozying up indoors with a hot bowl of soup, a mug of hot chocolate, and a warm blanket.  Braving the cold can be a daunting task.  While crime decreases overall during the winter months, certain factors such as increased utility costs and seasonal unemployment can engender a different kind of desperation. 

Time Your Lights: With darkness falling long before most people get home from work, set some of your home lights to a timer.  Keep your blinds closed so burglars can’t notice the ruse.

 

Close Your Blinds: This one is worth repeating.  With the increased darkness, open blinds when you are home is an advertisement to anyone passing by.  You can’t see out, but they can see in to your new plasma screen TV, expensive laptop, or pricey portable coffee maker.

 

Secure All Doors and Windows: While leaving a window open in sub-freezing temperatures isn’t a risk, forgetting to lock them is.  Lock your windows and doors, including the interior door from the garage to your home.  Reinforce the security of sliding doors by laying a wooden dowel or two-by-four in the groove.

 

Don’t Hide a Key: This is a golden ticket for burglars.  It’s a risky enough measure during the warmer months, but what about after snowfall?  If you need to dig around for the spare key even once, the conspicuous patterns in the snow is a give-away.

 

Secure Your Yard: Avoid giving burglars extra coverage.  If you notice overgrown shrubs and trees now, add it to your maintenance list for the warmer months.  Keep things well-lit during all seasons and consider installing a motion-sensitive floodlight.

 

Know Your Neighbors: Neighborhoods that are closer-knit are more likely to keep an eye out for one another and notice suspicious persons.  If you don’t know your neighbors yet, fight cabin fever by hosting an indoor block party!

 

Report Anything Suspicious: Odd footprints in the snow at your neighbor’s house?  Give them a call.  At your own home?  Let the police know.  Police are more likely to drive through neighborhoods with reported crimes, but alert them to suspicious actions  and they’d be happy to drive through the neighborhood to keep an eye on things.

 

From your friends at Alaska Management Group, stay warm and stay safe during this winter season!

Thanksgiving Home Safety Tips

This Thanksgiving, you plan to host friends, family, and their children for the annual feast. Your to-do list includes keeping your guests happy, staying on top of the mess, and cooking up a feast with all the fixings. You might feel overwhelmed and forget a few tasks that can put your guests in danger. Follow these tips to keep your family and home safe this Thanksgiving. 

Cooking a turkey is a science. This big bird can take up to 5 days to thaw so make sure you are prepared! Keep the turkey in the refrigerator until it is time to place in the oven. A turkey should reach an internal temperature of 165 degrees to ensure the meal is safe from bacteria. Once dinner is over, make sure to put all leftovers in the refrigerator. All leftovers must be refrigerated within two hours of serving. 

The number of kitchen fires triples on Thanksgiving Day. Take some simple precautions to make sure your home doesn’t become part of this statistic. “Stand by your pan” encourages homeowners to never leave food, especially grease, cooking on the stove top unattended. Keep all pets and children away from hot stoves and pans. Make sure all handles are facing inwards so they are not knocked over by guests. If you have a grease fire, do NOT use water or a fire extinguisher to put it out. Turn off the heat source, cover the flames with a pot or pan if possible, and dump baking soda and/or salt on the flames. 

Clogged drains can be expensive, time consuming, and stinky for you and your guests! Once a drain is clogged, homeowners can either call a plumber or run to the store for a bottle of Drano. Proper drain maintenance can avoid clogs, here are a few easy steps! 

1.     Lift any pop-up stoppers in sinks, remove gunk that has collected around the stopper and place it in the trash. Rinse the stopper and place it back in the drain.

2.     Remove the shower drain and use a wire, a croquet hook, or a Zip-it to remove hair and other waste. Place the waste in the trash and rinse with hot water.

3.     Grind up a combination of ice and salt in your garbage disposal. This will help remove grease.  Once finished, rinse with cold water and grind up half a lemon or lime to leave it smelling fresh and clean.

Alaska Management Group provides management services and solutions as well as association-specific websites that can help companies share information and communicate effectively. Complete our management request form to find out how Alaska Management Group can assist you in maintaining the value and comfort of your home association. 

The Neon Pink House on the Block: The Benefits of Homeowners’ Associations (HOAs) vs. Restrictions

“Why can’t I raise goats in my backyard?” “Turn the rooms of my home into an inn?” “Paint neon pink murals on my siding?” Homeowners’ associations (HOAs) can sometimes be viewed by the individual homeowner as stifling expression and creativity. In reality, the main goal of an HOA is to maximize property values and create a positive neighborhood environment based upon shared understanding.

An HOA is a community association that serves the greater interests of a neighborhood and its residents. As such, having an HOA can give a community more political advocacy and power, as well as be a collective force for maintaining stability in resale value, community, and structural integrity. Alaska Management Group has been working with and managing homeowners’ associations in the Anchorage area for decades, and as we say in our mission statement, the goal is to “ensure a safe and comfortable lifestyle while maintaining the value of the community for all residents.”

HOAs will have agreed-upon CC&R’s (covenants, conditions, and restrictions) to meet their goal of maintaining home values, neighborhood amenities, and property stability among their residents. These will usually include:

- Fees and membership dues.

- Ordinances and rules, such as architectural, usage, parking, and noise restrictions.
- Responsibilities of the homeowner and the association.

Although HOA’s will most likely put an added layer of restrictions on the individual homeowner, on top of the local government’s zoning and neighborhood ordinances, an HOA serves the collective interests of its community. HOAs can be a powerful voice for the greater interests of their residents, and allow homeowners to have access to amenities as a group that they would not be able to afford individually. Many homeowners appreciate the added stability and the financial protection of assets that an HOA provides. Finally, HOAs can create an added sense of community and neighborhood identity. For more benefits of an HOA, visit here.   

Alaska Management Group is the longest-running association management company serving communities in Anchorage, as well as surrounding cities such as Palmer, Wasilla, and Eagle River. We provide exceptional management services and association-specific websites that facilitate shared information, communication, and access between residents, Board members, and our team. We provide both full service and financial management as well as Board of Directors consultation services. Let us know if we can assist you in maintaining the value and comfort of your home and association by completing our management request form.