insurance
Residents are required to purchase various types of insurance to protect their personal items and their home against theft, vandalism, equipment damage, and structural damage either caused by humans or nature. The insurance that they are required to purchase must also be renewed every year so they can have their replacement costs covered if the need arises. For HOA management companies to oversee association operations, the managers need a way to track insurance. It’s important for management companies to ensure residents are in compliance with the bare minimum of coverage needed as stated by the governing documents. Through Pilera’s community management software, managers can add and keep track of resident insurance. This month, we’ve added another level of tracking for the insurance functionality with a dashboard to give managers more powerful insights.
About the new Insurance Dashboard
The insurance dashboard provides a summary of all insurance tickets managers have created in a specific community or across their entire portfolio. This dashboard helps managers to keep track of the types of insurance that residents have on file, as well as track expiration dates, which is the most important. To track expirations, managers can use the sort function directly in the dashboard or through their generated reports.
Managers can generate a report by filtering criteria that meets their business needs. The main aim of this dashboard is to provide managers with high-level insights on types of insurance being tracked, expiration information, and quick access to insurance agent information. These are the criteria managers can filter on:
- Communities – Select the entire portfolio or a specific community.
- Status – New, acknowledged, in progress, closed, etc.
- State – Open, closed, or deleted.
- Category – These are the custom categories that you set up. Examples of insurance categories you can track include personal liability, pet, vehicle, renters, or homeowners insurance.
- Start and end date of the insurance policy.
- Ticket ID or subject to drill down on the exact insurance ticket you are looking for.
To take your insurance tracking to the next level, try out this pro tip:
Use the unit document management system to store resident insurance documentation. If preferred, managers can give residents (owners and renters both) the option to upload their insurance documents so that management is always informed.
To learn more about how you can improve your insurance tracking and take your operations to the next level, contact us at [email protected].
About Pilera
Pilera Software is the premier community and property management suite that has helped thousands of community managers and back-office personnel enhance communications, improve customer service, and manage compliance and operations. May we help your community achieve these success stories? Book a demo to see how Pilera’s community management suite can help your company.
Greetings,
We\’re back with more updates this month to enhance your experience with tickets and the event calendar. We also just released a brand new Ebook that dives into all the new features we launched in 2019. Now, without further ado, let\’s talk about the new updates for this month!
New Feature
Insurance Dashboard
We’ve seen impressive growth in our insurance feature, so we’re thrilled to announce the new Insurance Dashboard. Through the Insurance Dashboard, managers can filter various criteria to meet their business needs and generate a summary or detailed Excel report. The criteria that managers can filter on include all communities or a specific community, status, state, category, start and end dates, subject or ticket ID, and modified date. Managers can find this new functionality in the Insurance Report section.
Enhancements
- Managers can now search for ticket ID’s in the dashboard via the Subject field.
- When sending a notification about an event in the new Event Calendar, managers can choose to notify by location (entire community or specific street, building, floor, or unit) or type of user (owner, tenant, other occupants, and/or a manager).
- When updating all ticket types, the option to notify the assignee automatically defaults to no. If preferred, the manager can choose to notify the assignee.
- In the Unit View, managers can now view a list of architecture change requests submitted for a specific unit.
- In the Unit & Account tab within each resident profile, we now provide a direct link to view the unit details for easier access. You’ll see the familiar unit details page with the list of all occupants, leases, vehicles, work orders, violations, and architectural change requests.
- We’ve made some enhancements to the date picker throughout the app including the Lease Report. This includes automatically setting the start date correctly if the end date selected is before the start date.
To learn about all the updates you can leverage in 2020, check out our 2019 Annual Report below!
About Pilera
Pilera Software is the premier community and property management suite that has helped thousands of community managers and back-office personnel enhance communications, improve customer service, and manage compliance and operations. May we help your community achieve these success stories? Book a demo to see how Pilera’s community management suite can help your company.
In many parts of the country, the temperatures have already settled into the 30s and 40s, and residents of those areas know that snow, ice, and wind are right around the corner. Even during mild winters, storms can wreak havoc on a property that isn’t prepared.
Fortunately, there are simple things an HOA can do to make sure that their property is buttoned-up and ready for the long, cold months ahead.
Take some pictures
This is one of those steps that seems really obvious after the fact. If a gutter freezes because of an ice dam and comes crashing down into the parking lot, management will often think, “I wish I’d taken a ‘before’ picture so I could compare it with this ‘after’ picture.”
That’s why it’s such a good idea to document as much of the property as possible with time- and date-stamped pictures. When the time comes to present evidence to an insurance company, it will make things so much easier.
Have a look at the roof
If there’s anything that’s going to cause myriad headaches during a bad winter, it’s the roof. Leaks, blown shingles, and collapse are just the tip of the iceberg, so it’s best to have a professional come and inspect things while the weather is still mild. And if there are clear and obvious problems, don’t hesitate – get them before they get you.
Look over insurance docs
Make sure all premiums are paid and up to date, and that they provide sufficient coverage for whatever may come along. The worst time to discover inadequate coverage is after the fact.
Winter is coming, and even though it doesn’t last nearly as long as it seems to, there’s plenty of damage that can be done. Make sure you and your property are ready, and riding out the storms will be a little less arduous.
About Pilera
Pilera is a best-of-class, easy-to-use, comprehensive online community management solution for apartments, condos, and associations. Pilera provides the easiest, most comprehensive data management capability available to property managers, leasing agents, boards of directors, and back-office personnel. Quickly and easily access whatever you need, whenever you need it, from wherever you need to be with office or mobile phone connectivity. You are never out of touch. Act on the document/information accessed from the office or “on-the-road” with Pilera supported mobile capability. Contact us today!
Insurance is just one of those things: you hate to pay for it when you don’t need it, but you’re incredibly grateful to have it when you do.
Homeowners associations generally have quite a bit of insurance, and many of them have umbrella policies that cover them for just about any eventuality. This is extremely important, since a very large number of people can all be counting on the same insurance.
Generally speaking, HOAs carry property insurance. This covers everything from the main structure to clubhouses, gyms, pool houses, garages, and so forth. It’s especially useful in areas prone to extreme weather.
They also carry liability insurance, which protects the association if anyone should get hurt while on the property. Of course, well-maintained properties are pretty safe anyway, but it’s always good to be prepared in case someone slips on ice or a child is hurt playing on the swings in the communal playground.
But did you know there’s also something called Employee Dishonesty Insurance? Many HOAs carry it, and it protects the association against theft by contractors, employees, and vendors. You don’t like to think that you need protection like that, but once again, it’s important to have it if and when you need it.
Of course, like anything, it’s possible to overdo insurance. There’s no point in paying for insurance that the HOA will probably never use. The right amount of insurance – and the right type of insurance – should be enough to keep everyone safe and happy.
Pilera is a best-of-class, easy-to-use, comprehensive online property management solution for apartments, condos, and associations. Pilera provides the easiest, most comprehensive data management capability available to property managers, leasing agents, boards of directors, and back-office personnel. Quickly and easily access whatever you need, whenever you need it, from wherever you need to be with office or mobile phone connectivity. You are never out of touch. Act on the document/information accessed from the office or “on-the-road” with Pilera-supported mobile capability. Contact us today!
We unfortunately live in a rather litigious society, and if you’re on the board of an HOA long enough, chances are that you’ll be involved in at least one lawsuit. In this post, we’ll explore the primary reasons people file suits and what you should do about it.
The vast majority of lawsuits that HOAs will deal with are slip-and-fall. In these cases, someone fell on the property and were injured or had some property damaged as a result. Armed with this knowledge, remember that prevention is key. Melt those ice patches and fix those sidewalk cracks!
Because slip-and-fall suits are most common, HOAs will likely be aware that something happened even if they aren’t aware that a suit is coming. You’ll know someone fell or maybe the super saw it. At the very least, you’ll get a preliminary letter trying to resolve the problem before the suit is filed. It shouldn’t come as a surprise.
So what should you do? First of all, don’t get mad. Sure, the person bringing the suit is a neighbor and maybe even a friend, but this isn’t personal. This is business. Deal with it quickly and keep it private. There’s no need to tell the other property residents what’s going on.
After you’ve taken a few cleansing breaths, call your attorney and your insurance company. You’ll need the legal expertise of your attorney and your insurance company should be put on notice. They’ll want to reconstruct what happened, and if you alert them in May about someone who slipped on a patch of January ice, they’ll have no way of doing that. Also, keep in mind that if the incident is covered by your insurance company, they might want to appoint their own lawyer. After that, there’s not much of a rush. You should have 21 days to respond; however, you should speak to your lawyer about your individual situation.
The vast majority of suits never make it to a courtroom. Court cases are expensive, and most often, parties will settle out of court to avoid those expenses. So don’t worry about flop sweating on the witness stand!
The bottom line is that lawsuits happen all the time. If it happens to your HOA board, take the proper steps and soon, you and your resident will be living in harmony again.
Pilera is a best-of-class, easy-to-use, comprehensive online property management solution for apartments, condos, and associations. Pilera provides the easiest, most comprehensive data management capability available to property managers, leasing agents, boards of directors, and back-office personnel. Quickly and easily access whatever you need, whenever you need it, from wherever you need to be with office or mobile phone connectivity. You are never out of touch. Act on the document/information accessed from the office or “on-the-road” with Pilera-supported mobile capability. Contact us today!
These latest record-breaking storms have forced states in New England to completely blow their snow removal budgets for the year. Many are looking for federal aid or are asking their state government to find money somewhere — anywhere! And a salt donation wouldn’t hurt.
But condominiums don’t have the luxury of declaring a state of emergency and calling the White House to help them dig out. It’s for these situations that insurance companies offer snow insurance. Snow insurance is designed to help companies defray the cost of unbudgeted snow removal expenses.
Insurance companies offer different products, most of which are based on the inches of snowfall. For example, you might decide you’re equipped to remove 24 inches of snow per season. Once more than 24 inches fall, the insurance company will help. Alternatively, you may decide that you’re equipped to remove 10 inches of snow per storm. If a particular storm dumps 3 feet of snow on your parking lot and roof, you’re covered for every inch over 10.
Of course, the insurance company benefits during dry winters, but if it’s a winter during which you’re struggling to remove yet another foot of snow, you’ll be glad to have the coverage. And if what climate scientists warn is true, winters, like we’re experiencing now, will soon be the norm, rather than the exception.
Pilera is a best-of-class, easy-to-use, comprehensive online property management solution for apartments, condos, and associations. Pilera provides the easiest, most comprehensive data management capability available to property managers, leasing agents, boards of directors, and back-office personnel. Quickly and easily access whatever you need, whenever you need it, from wherever you need to be with office or mobile phone connectivity. You are never out of touch. Act on the document/information accessed from the office or “on-the-road” with Pilera-supported mobile capability. Contact us today!
Homeowners Associations have little choice when it comes to hiring outside contractors. Even the smallest condo complex needs periodic repairs, snow removal, and landscaping. And the bigger the complex, the greater the need are going to be.
One of the issues that come up is that condo owners don’t necessarily want to foot the bill for top-of-the-line contractors. While it’s no secret that if you want quality you’ve got to pay for it, condo owners may be concerned that their monthly fees are too high already, and can’t justify paying anymore, even though they ultimately benefit from it.
But this low-balling when it comes to finding contractors can really backfire. In finding the cheapest available option, you can end up with a lack of communication, less than stellar work, and a scramble to find someone else to take up the slack when the contractor just isn’t working out.
But the worst thing that can happen when choosing the least expensive option is ending up with an unlicensed contractor. Regardless of how attractive the price might be, an association should never, ever hire an unlicensed contractor. A properly licensed, insured, and the bonded contractor is the only way to avoid a myriad of potential headaches.
If you’re the decision-maker on an HOA board, be sure any contractor you hire provides you with a copy of their certificate of insurance, and check to make sure that it hasn’t expired. Also, make sure the association is named as an additional insured under the contractor’s policy. Otherwise, if there’s an accident, the association could potentially be held liable.
Pilera is a best-of-class, easy-to-use, comprehensive online property management solution for apartments, condos, and associations. Pilera provides the easiest, most comprehensive data management capability available to property managers, leasing agents, boards of directors, and back-office personnel. Quickly and easily access whatever you need, whenever you need it, from wherever you need to be with office or mobile phone connectivity. You are never out of touch. Act on the document/information accessed from the office or “on-the-road” with Pilera-supported mobile capability. Contact us today!
Dealing with the aftermath of a fire is one of the most difficult challenges a property manager may face, and hopefully it isn’t one you’ll ever have to deal with. However, if you are faced with this type of emergency, it’s best to go into it knowing a little bit about which steps to take.
After there’s been a fire on your property, the first thing you should do is contact the insurance company. Do this the moment the fire is out because the sooner you get the process started, the sooner you can finish any necessary repairs.
The insurance company will send someone out to assess the damages and determine the cause of the fire. The firefighters will likely have an opinion about how the fire started, which can put the assessor on the right track. If the fire was caused by tenant negligence, you can go after their insurance company to keep your premiums from increasing. Damage can be extensive. There can be damage from the fire itself, the smoke, and from the water used to put out the fire. Remember that there also can be damage behind the walls and plumbing damage.
When it comes time for repairs, your insurance company will hire the contractors. Remember that these people are working for the insurance company that likely is trying to minimize costs. Be involved in the process to make sure that everything is replaced with new items that are of similar quality to the damaged items. An insurance company might try to get away with minimum repairs.
A fire can be devastating, but as long as everyone who lives in the property is safe, things can always be replaced and the buildings can always be rebuilt.
Pilera is a best-of-class, easy-to-use, comprehensive online property management solution for apartments, condos, and associations. Pilera provides the easiest, most comprehensive data management capability available to property managers, leasing agents, boards of directors, and back-office personnel. Quickly and easily access whatever you need, whenever you need it, from wherever you need to be with office or mobile phone connectivity. You are never out of touch. Act on the document/information accessed from the office or “on-the-road” with Pilera-supported mobile capability. Contact us today!
Welcome, 2014! The new year brings new beginnings, new projects, resolutions, and a dawning dread that tax time is just around the corner. Okay, it’s not just around the corner, exactly. But time flies and you should give yourself plenty of time to prepare so you’re not up all night the day before taxes are due.
As a property manager, you’re entitled to deduct expenses related to your business. As long as you use an item for business purposes and not personal purposes, you can legally deduct it. Some of the items property managers often deduct include the following:
Insurance — Insurance purchased to protect your business property or liability insurance are deductible. If you work from home and have an office there, part of your homeowner’s insurance may be deductible.
Professional services — If you pay someone for consulting, legal services, or any sort of professional assistance you need for your business, those expenses are deductible.
Equipment rentals — If you rent equipment for upkeep of your property, like a power washer, rental fees are deductible.
Office expenses — Anything you purchase for your office, like printer ink, envelopes, business cards, etc., are deductible as long as these items are not used for personal use.
Travel expenses — If your duties require that you travel on your own dime, those expenses are deductible. Did you attend a conference last year or visit an out-of-town property to learn best practices? Don’t forget to deduct those expenses.
This is just a sampling of the deductions you may take as a property manager, so it’s best to consult an accountant before tax time. And make your first appointment soon, because taxes will be due before you know it!
Pilera is a best-of-class, easy-to-use, comprehensive online property management solution for apartments, condos, and associations. Pilera provides the easiest, most comprehensive data management capability available to property managers, leasing agents, boards of directors, and back-office personnel. Quickly and easily access whatever you need, whenever you need it, from wherever you need to be with office or mobile phone connectivity. You are never out of touch. Act on the document/information accessed from the office or “on-the-road” with Pilera-supported mobile capability. Contact us today!
Property managers often wonder if they need to carry their own insurance. Even though many property owners have their property managers listed as an “also insured,” the answer still is a resounding “yes”!
We live in a litigious society, and professionals need to protect themselves with insurance that covers their property and protects them from general liability and professional exposure.
Tenant discrimination cases are on the rise, courts tend to hold property managers to a high standard of care, and employment-related claims are being brought against property managers in increasingly higher numbers. Property managers can not only be sued by their own employees, but by staff members employed by the property owner, like maintenance staff.
While the also insured designation protects property managers from exposures at the location they manage, they need to be covered for injury and property damage at their own office, where the property owner’s coverage won’t reach.
Pilera is a best-of-class, easy-to-use, comprehensive online property management solution for apartments, condos, and associations. Pilera provides the easiest, most comprehensive data management capability available to property managers, leasing agents, boards of directors, and back-office personnel. Quickly and easily access whatever you need, whenever you need it, from wherever you need to be with office or mobile phone connectivity. You are never out of touch. Act on the document/information accessed from the office or “on-the-road” with Pilera-supported mobile capability. Contact us today!
