Nine Best Practices for HOA Projects in 2021: 1


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INSURANCE: Learn from your past. Our markets are still on an upswing and we’re still in a busy construction cycle, but 2020 taught us there are some unforeseen risks out there. Oftentimes in repair projects we tend to rely on the existing buildings' insurance policy alone. Start looking at those builder's risk policies, earthquake insurance, or contract provisions to protect against a future pandemic. Having a good insurance agent on your team is very important.


START PLANNING IN THE OFF-SEASON: Get your design, planning, permits, and all your paperwork started in the wintertime so that you're ready to hit the ground running in the spring. Take advantage of the time when contractors are light on work and prices are lower.


DON’T UNDERCUT YOUR PROJECT: Low bid is not best bid. Don't be misled or bullied into low bid contractors who won’t perform quality work. Working with a bad contractor isn’t fun for anyone.


DO YOUR DUE DILIGENCE: Get multiple bids, interview contractors, and talk to references. It’s so easy in today's online world to find a Google reference list or to get contractors on a Zoom call. A good project requires some homework.


DON’T ABDICATE YOUR RESPONSIBILITY: Just because your community manager will do something for you, or you could hire a consultant to do it for you, follow along in the process. Get in the front seat, visit contractors’ offices, talk to their team, and stay involved.


STAY WITH THE PROVEN CONTRACT BODIES: The American Institute of Architects (AIA) has a standard for construction documents. I don’t recommend automatically signing the contractor's contract because it was likely written by their attorney to benefit them. Have your homeowners association's attorney review the contract before signing anything.


PAY ATTENTION TO WORK EXPERIENCE: We all make decisions based on price, schedule, and experience, but instead of giving those equal value, give work experience a heavier, more weighted value. You don't want to be on the plane with the pilot in his first snow landing. When problems arise on your construction project, you want a seasoned, experienced voice in your corner.


AVOID PROCRASTINATING ON REPAIRS: Your building won’t heal itself and waiting for costs to go down has been a losing strategy for the past eight years.


TAKE TIME TO ENVISION WHAT YOU WANT: Make a vision for what you want your community to look like. If your community is stressed with leaks and high assessments, make a plan for your ideal community and take steps to get there.


Survive and Thrive in 2021


While we can't predict what 2021 is going to hit us with, we do know how to be prepared for a variety of storms. Pay attention to these nine tips and you will not only survive, you’ll thrive in 2021.


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