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Content provided by Hosts: Robert Nordlund, Kevin Davis, Julie Adamen, Hosts: Robert Nordlund, Kevin Davis, and Julie Adamen. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Hosts: Robert Nordlund, Kevin Davis, Julie Adamen, Hosts: Robert Nordlund, Kevin Davis, and Julie Adamen or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.
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130 | HOA Board Heroes: Managing a Huge Community Special Assessment

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Manage episode 517492473 series 3470637
Content provided by Hosts: Robert Nordlund, Kevin Davis, Julie Adamen, Hosts: Robert Nordlund, Kevin Davis, and Julie Adamen. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Hosts: Robert Nordlund, Kevin Davis, Julie Adamen, Hosts: Robert Nordlund, Kevin Davis, and Julie Adamen or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

Send us a text

How one HOA Board managed a $2M Special Assessment with strategy, transparency, and teamwork.
✅ Is a Reserve Study right for you? 👉 https://www.reservestudy.com/

A small 18-unit HOA faced a $2 million special assessment that could have divided the community. Instead, their HOA Board turned it into a story of planning, transparency, and perseverance. Terri Rene and her team tackled severe exterior damage, owner resistance, and financing challenges while keeping their community united. This episode breaks down the real steps they took: assessing damage, budgeting under pressure, preparing for non-payment risks, and maintaining communication at every stage.

Chapters

00:00 How did this HOA Board handle a massive special assessment?
01:13 Who is Terri Rene and what makes her an HOA Board Hero?
05:11 How did the $2M special assessment come about?
07:28 What compromises did owners make to fund this project?
09:17 How did the Board plan for non-paying owners?
11:18 What led to the need for such a large assessment?
13:05 What did early inspections reveal about structural damage?
15:01 How did board turnover impact project leadership?
16:39 How did communication rebuild owner trust and support?
20:44 What strategies helped the special assessment finally pass?
22:49 Ad Break - Association Reserves
23:21 How did the HOA manage budgeting and owner voting?
25:50 What steps were taken to prepare for construction?
27:24 Was the project on budget and on schedule?
30:11 How will this project impact home values and the reserve fund?
32:59 What lessons can other HOA boards learn from this experience?
The views & opinions expressed in this program are those of the Hosts & Guests, intended to provide general education about the community association industry. The content is not intended to provide specific advice or recommendations for any individual or organization. Please seek advice from licensed professionals.

Podcast Links:
Full Episode List
Watch On Youtube
Engage in the conversation!

Call our 24/7 voicemail line at (805) 203-3130 or send an email or voice memo to [email protected]
Nominate yourself or a Board Hero you Know!
Board Hero Nominations
Boardmember Merch Store!

Connect with Hosts on LinkedIn
Julie Adamen
Kevin Davis, CIRMS
Robert Nordlund, PE
Support Our Sponsors
Association Insights & Marketplace
Association Reserves
Community Financials
Kevin Davis Insurance Services
Stokelight Video & Marketing
The Inspectors of Election

  continue reading

Chapters

1. How did this HOA Board handle a massive special assessment? (00:00:00)

2. Who is Terri Rene and what makes her an HOA Board Hero? (00:01:13)

3. How did the $2M special assessment come about? (00:05:11)

4. What compromises did owners make to fund this project? (00:07:28)

5. How did the Board plan for non-paying owners? (00:09:17)

6. What led to the need for such a large assessment? (00:11:18)

7. What did early inspections reveal about structural damage? (00:13:05)

8. How did board turnover impact project leadership? (00:15:01)

9. How did communication rebuild owner trust and support? (00:16:39)

10. What strategies helped the special assessment finally pass? (00:20:44)

11. Ad Break - Association Reserves (00:22:49)

12. How did the HOA manage budgeting and owner voting? (00:23:21)

13. What steps were taken to prepare for construction? (00:25:50)

14. Was the project on budget and on schedule? (00:27:24)

15. How will this project impact home values and the reserve fund? (00:30:11)

16. What lessons can other HOA boards learn from this experience? (00:32:59)

131 episodes

Artwork
iconShare
 
Manage episode 517492473 series 3470637
Content provided by Hosts: Robert Nordlund, Kevin Davis, Julie Adamen, Hosts: Robert Nordlund, Kevin Davis, and Julie Adamen. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Hosts: Robert Nordlund, Kevin Davis, Julie Adamen, Hosts: Robert Nordlund, Kevin Davis, and Julie Adamen or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

Send us a text

How one HOA Board managed a $2M Special Assessment with strategy, transparency, and teamwork.
✅ Is a Reserve Study right for you? 👉 https://www.reservestudy.com/

A small 18-unit HOA faced a $2 million special assessment that could have divided the community. Instead, their HOA Board turned it into a story of planning, transparency, and perseverance. Terri Rene and her team tackled severe exterior damage, owner resistance, and financing challenges while keeping their community united. This episode breaks down the real steps they took: assessing damage, budgeting under pressure, preparing for non-payment risks, and maintaining communication at every stage.

Chapters

00:00 How did this HOA Board handle a massive special assessment?
01:13 Who is Terri Rene and what makes her an HOA Board Hero?
05:11 How did the $2M special assessment come about?
07:28 What compromises did owners make to fund this project?
09:17 How did the Board plan for non-paying owners?
11:18 What led to the need for such a large assessment?
13:05 What did early inspections reveal about structural damage?
15:01 How did board turnover impact project leadership?
16:39 How did communication rebuild owner trust and support?
20:44 What strategies helped the special assessment finally pass?
22:49 Ad Break - Association Reserves
23:21 How did the HOA manage budgeting and owner voting?
25:50 What steps were taken to prepare for construction?
27:24 Was the project on budget and on schedule?
30:11 How will this project impact home values and the reserve fund?
32:59 What lessons can other HOA boards learn from this experience?
The views & opinions expressed in this program are those of the Hosts & Guests, intended to provide general education about the community association industry. The content is not intended to provide specific advice or recommendations for any individual or organization. Please seek advice from licensed professionals.

Podcast Links:
Full Episode List
Watch On Youtube
Engage in the conversation!

Call our 24/7 voicemail line at (805) 203-3130 or send an email or voice memo to [email protected]
Nominate yourself or a Board Hero you Know!
Board Hero Nominations
Boardmember Merch Store!

Connect with Hosts on LinkedIn
Julie Adamen
Kevin Davis, CIRMS
Robert Nordlund, PE
Support Our Sponsors
Association Insights & Marketplace
Association Reserves
Community Financials
Kevin Davis Insurance Services
Stokelight Video & Marketing
The Inspectors of Election

  continue reading

Chapters

1. How did this HOA Board handle a massive special assessment? (00:00:00)

2. Who is Terri Rene and what makes her an HOA Board Hero? (00:01:13)

3. How did the $2M special assessment come about? (00:05:11)

4. What compromises did owners make to fund this project? (00:07:28)

5. How did the Board plan for non-paying owners? (00:09:17)

6. What led to the need for such a large assessment? (00:11:18)

7. What did early inspections reveal about structural damage? (00:13:05)

8. How did board turnover impact project leadership? (00:15:01)

9. How did communication rebuild owner trust and support? (00:16:39)

10. What strategies helped the special assessment finally pass? (00:20:44)

11. Ad Break - Association Reserves (00:22:49)

12. How did the HOA manage budgeting and owner voting? (00:23:21)

13. What steps were taken to prepare for construction? (00:25:50)

14. Was the project on budget and on schedule? (00:27:24)

15. How will this project impact home values and the reserve fund? (00:30:11)

16. What lessons can other HOA boards learn from this experience? (00:32:59)

131 episodes

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