March 2018
HMS Board Brief
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Happy Saint Patrick's Day!
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In This Issue:
- Insurance for Assessment Losses
- Board Training Classes: Sign-Up Today!
- HMS Owners Enjoy Wholesale Showroom Access
- Board Satisfaction Survey: Congratulations Winners!
- New Resource Center Coming Soon
- Tip of the Month: Great App for Organization
In Every Issue:
- HMS List of Services
- HMS Quality Assurance Center
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Dear Board Member,
Welcome to the March 2018 issue of the HMS Board Brief, a monthly email that provides our Association leaders with education and important information. As the name implies, they will be "brief", fun and easy to read. Please review the articles for information on our services, vendor materials, invitations to LIVE training classes and more.
Because it is very important for all Board Members to read these issues, and we want to encourage participation, HMS will hold a drawing each month with the names of everyone who opened and reviewed the content. One lucky board member will receive a gift card
just for reading the Board Brief!
Again, HMS appreciates the opportunity to partner with your community. We hope that Board Briefs will make your volunteer hours easier and more rewarding.
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Insurance is multifaceted and we rely on our agents for advice; however, there is one topic that is rarely discussed "Assessment Loss Coverage". Associations have insurance; however, on rare occasions there are situations where a claim
exceeds
the association’s master policy limits. In those cases, you may be wondering who is responsible to make up the difference? Unfortunately the answer is ALL of YOU, as the owners!
Assessment loss insurance coverage is protection for
owners
personally and is purchased on an individual basis
. It pays for the owner’s share of an assessment charged to all owners when the assessment is a result of an insurance claim exceeding the policy limits. This protection can be used on claims involving the building or its common areas. Loss assessment insurance coverage is purchased by each individual owner, not the association. It is not an automatic coverage, and details should be discussed with your agent.
Here are two examples of when Loss Assessment Insurance could be needed:
Wind/Hail damage to the exterior of the association’s buildings:
As a result of a major storm, an association’s clubhouse, as well as townhome buildings (which are insured under the master policy) sustained major wind/hail damage, requiring the replacement of the roofs. The insurance policy has a clause which states the buildings with roofs more than 12 years old will be paid at actual cash value. The roofs in this example are 14 years old. The insurance policy pays out $200,000, however the roofs replacements costs are $325,000 – what happens with the shortfall of $125,000? That’s correct, the 100 homeowners are each assessed $1250!
A child is injured at the association’s playground:
A neighborhood family brings their young kids to the playground, moments later the child falls through the baby seat swing, sustaining not only a broken wrist but a head injury. After a series of investigations and lawsuits, the association is charged with a $4,000,000 judgement, but the limit on the general liability policy is capped at $1,000,000 per occurrence. How is the $3,000,000 difference paid? 100 homes are assessed the difference ($30,000 per home)!
It is recommended that, as an owner, you review the coverages provided on the association’s master policies, as well as the association documents, to determine what you are individually responsible for and what the association is responsible for, in the case of a loss. Speak with your agent regarding the limits of loss assessment available to you, in some cases, it is only a few dollars (sometimes less than $5.00) more per year for maximum coverage.
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Article Compliments of Dreher Insurance.
Judy Dreher: 678-205-0224
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Sign Up For Our Upcoming
Complimentary
Board Training Classes
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HMS is proud to offer Board Training Sessions LIVE in our corporate classroom located at 1260 Old Alpharetta Road, Alpharetta, Georgia 30005.
Why attend an HMS seminar?
- Classes are Open to all of our Board Members
- Sessions are Interactive, Informative & Fun
- Program is taught by the President of HMS
- Training Materials are Included!
- All Sessions are FREE!
- Classes includes Breakfast or Dinner!
We are offering multiple sessions
for each of the different programs.
Attending Both is Preferable!
PART I:
LEGAL AND ARCHITECTURAL CONTROL
Topics Include: The legal basis for Associations, authority and obligations, covenant provisions, how to properly enforce covenants, best practices and proper procedures.
Saturday, April 21st, 2018 (8:30 A.M. - 11:00 A.M.)
Thank you to all who attended the March 10th and March 15th classes.
PART II:
FINANCIALS AND OPERATIONS
Topics Include: Financial processes, budget development, reserves and funding, understanding financial reports, Insurance types and coverage, Efficient and effective Board and Annual meetings, elections, committees and volunteers.
Saturday, April 7th, 2018 (8:30 A.M. - 11:00 A.M.)
Tuesday, April 10th, 2018 (6:30 P.M. - 9:00 P.M.)
Wednesday, April 25th, 2018 (6:30 P.M. - 9:00 P.M.)
Sign-Up for one of our many dates.
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Bring your Appetite!
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Don't forget, there is a sweeter side to Board life at HMS. All of our training sessions now include a full meal and dessert. The only thing that we want our Board Members hungry for is knowledge!
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HMS appreciates everyone's efforts to complete the Board Survey. We are diligently reviewing your feedback. Our goal is to continuously improve your experience, not only as an HMS Board Member, but also as a valued homeowner. As you may recall, those who completed the survey participated in a drawing for exciting prizes.
Congratulations goes out to:
Aryn from Sugar Hill $50.00 Winner
Tracy from Alpharetta $75.00 Winner
Grand prize winner:
Bryan from Dawsonville $150.00
Enjoy your prizes!
Thank you again to all our valued clients
who took the time to participate.
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HMS Savings Program Launches!
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HMS aspires to offer a wide range of benefits to our homeowners. We now have a unique and wonderful program that benefits everyone in all our communities. Our homeowners represent a strong buying group and we have partnered with national brands to help save you money. One of the most exciting elements of this benefit is that our clients now have access to an exclusive remodeling showroom right here in Atlanta. With locations in Marietta and Norcross, ProSource will amaze you! Whether or not you have a trade professional to help you with your home improvement design project, our homeowners will enjoy the personalized service and discount pricing on a variety of products! The general public cannot access these showrooms, but as a valued HMS client - you can!
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At ProSource Wholesale, you have:
- Exclusive access to a private showroom
- An incredible selection of products
- Wholesale pricing
- Kitchen and bath design experts
- Online project planning
- And more
Visit the Websites:
We are also able to offer discounts from national brands such as Office Depot and Sherman Williams, (just to name a few).
Click the link below to explore your options and know that EVEN MORE perks and benefits are on the way!
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HMS has revised our brochures and service information for 2018, making it easier to see what we can do for your community. These documents can help familiarize new Board Members with everything we have to offer, and can even assist long-standing members with frequently asked questions. Click the link below to see the HMS Brochure, a detailed description of all our programs. The Bird's-Eye View is also available which provides an overview of our many options. As always, please let us know if you have any questions or concerns.
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Easy and FREE Organizational Apps
HMS works hard to share no-cost solutions that make your life easier. As a busy Board Member, you are probably always looking for organizational tools. There are a number of Apps available on your phone, some with FREE versions, to help keep those "to-do" lists in order and at your fingertips.
These Apps make it easier to get things done and accessing recurring lists, such as the items you need to remember when traveling, becomes a breeze. Organize and share your tasks, work projects, and grocery lists. You can even keep a record of all the places you wish to travel, the movies you intend to watch or restaurants you want to check out - all in one place. Most softwares allow you to set due dates and reminders and some companies offer assignment features in the App allowing you to email your task to others directly from the system.
Whether your lists are work related, board activities or just for fun, you will find your active life much easier to manage with these helpful softwares. We found a comprehensive article which reviews the best "To-Do" Apps of 2018. Click the link below to check it out.
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Service Quality
Assurance Center
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Your satisfaction is our top priority! Have an idea, suggestion or concern? We have created a centralized point of communication in effort to make it easy for our Board Members to be heard. Please let us know how we can serve you better by emailing us at the address below.
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Resource Center
Summer 2018
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Everything You Need...
When you Need It!
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We have had a great response to our Board Briefs so far and we appreciate all your participation in our LIVE training classes! That being said, we know the daily challenge facing our community leaders. As an active Board Member, priorities change and you are frequently in need of specific information on short notice, in order to make the best decision possible. For this reason, we are preparing an HMS Resource Center - one in which you can search by subject! Keep a look out for more information in the coming months. Also, feel free to reach out and let us know if there a particular topic you would like covered.
We are compiling a wealth of knowledge, advice from industry experts, tips, hyperlinks, useful websites and content videos. HMS is working hard to set the Gold Standard in our industry when it come to client satisfaction. We believe that access to reliable and accurate information for our Managers, Board Members and Homeowners is a key element to achieving that goal.
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Inspirational Quote
of the Month
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"Diligence is the mother of good luck."
~ Benjamin Franklin
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Every Home is Different...So Are We.
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Thank you for reading the monthly Board Brief.
Current Board members that review
the March issue are automatically
entered to win a $50.00 Gift Card!
This month's winner will be announced in the next Board Brief.
Congratulations to our February 2018 Winner:
Cherie from Buford
Questions or Comments
1260 Old Alpharetta Road, Alpharetta, Georgia 30005
Phone: 770-667-0595 Fax: 770-667-6315
Service.Quality@hms-inc.net www.hms-inc.net
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