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IMPORTANT
BOARD UPDATES
OCTOBER 2015
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At Heritage, we understand that board leadership is constantly changing. As your proud partner, we are here to help. Keeping new volunteers up to date with our industry is just one of the ways we make board work easier.
Always check our updates for the latest information and be sure to let us know how we can serve you even better!
Please note our improvements!
We have changed the format of our popular Board Updates to make Heritage information
more accessible from your cell phone.
Don't worry,
we still have all the great articles,
tips, and inspirational quotes.
Just keep scrolling down, it's all right here!
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In this Issue!
Winterizing your Entire Property
Start a neighborhood BOO BASKET chain
Treasurer's Corner: Fiduciary Obligation Defined
Insurance Basis: When to File a Claim
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Tip of the Month!
For a Fun Social Activity...
Consider starting a BOO BASKET Chain!
Surprise your neighbors with a basket of candy delivered to their door. No one will know who dropped it off. The idea is to fill it again and pass it on. Neighbors who have already been "Booed" indicate this with a sign on their door or a ribbon on their mailbox!
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he ne
IT'S
TIME
TO WINTERIZE
Heritage Construction and Maintenance would like to remind everyone about an important issue this season. Many properties are thinking about winterizing their pools in October, a task handled most frequently by your pool service. However, many other areas of your property may also be in need of special care in order to keep pipes from freezing. Protecting outdoor bathrooms, water fountains and decorative water features is also important and can avoid costly insurance claims. HCMC is able to assist on any size job.
In addition, many board members ask us to deliver ICE MELT for common areas, sidewalks and clubhouse areas in case of a freeze. At your next board meeting, while finalizing your holiday decorations, take a moment to be sure you have planned carefully for the winter months. Contact your manager as soon as possible if you have any interest in these services.
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Fun Facts
About Halloween!
Did you know...
Halloween is believed to have originated in Ireland.
The official name for the fear of Halloween is Samhainophobia.
The largest pumpkin on record weighed in at over a ton!
Click
HERE
to check out the photos!
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TREASURER'
S
CORNER
Tips to help manage
your finanicals
Fiduciary Duty of Board Members
Fiduciary Duty is a concept that is frequently mentioned when discussing the role of board members. It helps to have a clear understanding of what the concept of fiduciary duty actually means. Below is one standard definition:
A fiduciary is a person who holds a legal or ethical relationship of trust with one or more other parties (person or group of persons). Typically, a fiduciary prudently takes care of money or other asset for another person. A fiduciary is someone who has undertaken to act for and on behalf of another in a particular matter in circumstances which give rise to a relationship of trust and confidence.
This concept basically boils down to both making sure all actions are on behalf of the association and taking care to conduct the business of the association in the right way.
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INSURANCE BASICS
When to file a claim
Many of our board members wonder when to file an insurance claim. The answer seems simple: when the loss exceeds the deductible significantly enough to merit the claim history. Although most homeowners understand this conceptually, it is the extent of the damage that is hard to quantify, particularly as a volunteer dealing with an Association loss. As a result, many communities simply file a claim and allow the insurance company to assess damages. Unfortunately, there is a cost to this method that most board members do not understand...
For the complete article... CLICK HERE!
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Inspirational
Quote of the Month!
This month we selected one about FEAR!
"Great work is done by people
who are not afraid to be great!
"
- Fernando Flores
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For Questions or Comments:
Please Contact
Wendy Brant
Director of Business Development
wbrant@heritageproperty.com
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Heritage Property
Management
Corporate Office
500 Sugar Mill Road
Building B, Suite #200
Atlanta, Ga 30350
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