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Here's How to Avoid Low Property Values That Can Hurt Your HOA

By their very nature HOAs affect property values. The question is whether the values increase or decrease. Much of that is in the hands of the HOA. Property owners and managers also have a substantial effect on the market value the condition of the property over time. Below, we provide some tips on how to avoid low property values and maintain a strong presence in the real estate market. If you need further consultation, you can contact our office. We’ll be happy to go over the property management services we provide.

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9 Benefits of Living in an HOA

If you’re considering joining an HOA this year, you’re not alone. Every year hundreds of homeowners across the Twin Cities join HOAs and are experiencing new benefits every day. If you are currently managing an HOA and need professional help, Gassen provides experienced property management. We love working with HOAs. Here are 9 reasons why:

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How to Handle Short-Term Rentals in Your HOA

Home-sharing and short-term rentals have substantially increased over the last decade since websites like Airbnb.com have come of age. Short-term rental services work by connecting people looking for a place to stay for a one to three nights with homeowners who are willing to rent out their home or a section of their property. The phenomenon is proven to be successful and does not look to go away at all. It’s also important to note that since it’s a free market with no industry standards, there are no government or organizational regulations placed upon it at this time.

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How HOA Policies Affect Your Reserve Study

Now that 2018 is underway, it’s time to enact the HOA policies that you’ve set in place. What you’ll soon find out is how these policies will alter your reserve study. Although we’ve helped you update your reserve study this year, you’ll no doubt experience some surprises. Whatever changes you’ll need to make, we can guide you through the process so that you can be prepared over the next few years as your policies play out. Below are some HOA policies and procedures that have a significant effect on reserve studies.

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A Proactive Approach to Tenant/Homeowner Safety and Health

Did you know that you can assess where the possible hazards are in your rentals by looking at your reserve study? If you can identify areas where safety is an issue, you can formulate a plan to prevent accidents before your new tenants move in. We formulated a checklist of core safety and health issues that arise in residential properties. These problems are common in homes, apartments, and condos - essentially, any dwelling structure.

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5 HOA Management Issues Caused by Lack of Communication

Without proper management, communication issues can cripple an HOA and cause a broad spectrum of problems. For this reason, it is wise to hire a property management company such as Gassen to keep things organized and everyone informed. Below are some reasons why HOA boards have difficulty with communication and why property owners have strained relationships with their tenants. If you need to improve the communication model in your HOA, contact us today.

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Your Reserve Study: What You May Have Missed

A reserve study is a detailed itemized list of every expenditure you can count on over a long term. An example would be how much you’ll need to spend on landscaping for the next 20 years. Reserve studies are required by law in Minnesota to ensure your property’s funding stability. They keep your HOA or tenants secure while they’re living on your property.

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Why You Need a Professional Property Management Company in 2018

If you own property in Minneapolis, you know that it can be a sizable commitment that takes you in different directions. While it may make sense to take a do-it-yourself approach to save a little money, it rarely produces the kind of results you’re looking for. A professional property management company can ensure that your assets are taken care of and that you have financial stability when it comes to expenditures. Here are some important tasks a property manager can do for you:

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How to Prepare for Landscaping This Spring

Professional landscapers and property owners know that the time for planning for spring landscaping is now. Planning includes several elements such as creating a concept or design or your property, scheduling and hiring the right company to do the work, putting together a budget, and possibly even getting ideas and feedback from your HOA. While it’s tempting to do all of this yourself, you should hire a professional property management company to do the work for you so that you can focus on other aspects of your business. Below are some tips on how to get started preparing for your spring landscaping now.

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2018 HOA Regulations: What You Need to Know

2017-2018 Regulations for HOAs and property owners are pending as we speak. These regulations will affect how we manage your property as well as the relationship you have with your tenants and those in your HOA. Below is a summary of regulations that we may expect over the next 12 months. Gassen will monitor these regulations and keep you informed of any updates that you directly affect you. If you have any questions or need to make changes in your reserve study, budget, or policies in the upcoming year, please contact us. We can help.

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