Community Assets Archives - Pacific Crest Reserves

Homeowners Insurance vs. Condominium or Homeowners Association Insurance in the Pacific Northwest

Homeowners Insurance vs. Condominium or Homeowners Association Insurance in the Pacific Northwest While both homeowners insurance and COA / HOA insurance offer crucial protection, they cover different things. Homeowners insurance safeguards your individual property and belongings, while association insurance protects the shared property and liability of the homeowners association. Understanding this distinction is especially important [...]

By rbunzel|2025-02-03T12:25:27-08:00February 3rd, 2025|Community Assets, community risks, Uncategorized|Comments Off

Protecting Your Community: A Guide to Effective Drainage in the Pacific Northwest for HOA Boards

Protecting Your Community: A Guide to Effective Drainage in the Pacific Northwest for HOA Boards The Pacific Northwest's lush environment is also known for its abundant rainfall. This makes effective drainage a critical concern for Condominium and Homeowners Associations (COAs / HOAs). Poor drainage can lead to costly property damage, including foundation issues, basement flooding, [...]

By rbunzel|2025-01-22T11:13:29-08:00January 22nd, 2025|Community Assets, community risks, Repairs, Uncategorized|Comments Off

How much are we required put in reserves?

We frequently get the question of how much does WUCOIA require an association to put into reserves? The requirement of how much should be put into reserves is not explicitly stated in the Washington State Revised Code (RCW) 64.34, which governs condominiums, HOA's and PUDs. However, the following provisions within RCW 64.34 strongly imply this [...]

By rbunzel|2025-02-03T12:36:02-08:00December 18th, 2024|Budgets, Community Assets, Major Projects, Special Assessments|Comments Off

Hard Insurance for Condominium Assocations

Insurance is a crucial component of condominium living in Washington State. However, in recent years, the cost of insurance for condo associations has surged dramatically, becoming a significant budgetary concern. This trend mirrors a broader industry shift known as a "hard market," characterized by reduced insurance availability, higher premiums, and more stringent underwriting standards. While [...]

By rbunzel|2024-12-01T09:37:45-08:00December 1st, 2024|Budgets, Community Assets, community risks|Comments Off

Detention Ponds vs. Retention Ponds: Whats the difference in Washington State

Detention Ponds vs. Retention Ponds: What's the difference in Washington State. In Washington State developers are being required to put in storm water management systems. The intent is to minimize the impact on the storm water drainage system while trying to return the rainfall to the qualifiers. The terms "detention pond" and "retention pond" are [...]

By rbunzel|2024-08-30T10:02:20-07:00August 28th, 2024|Community Assets, community risks, Repairs, Uncategorized|Comments Off

Protect Your Pavement: Why Slurry Seal is the Smart Choice for Associations

Protect Your Pavement Condominium (COAs) and homeowner associations (HOAs) are responsible for maintaining a variety of shared spaces, and the roads within their communities are no exception. Cracks, potholes, and a faded surface can not only be unsightly but also pose safety hazards. While complete asphalt replacement can be expensive and disruptive, slurry seal offers [...]

By rbunzel|2024-07-11T13:05:52-07:00July 11th, 2024|Community Assets, Major Projects, Paving Roads|Comments Off

Budgeting for Deck and Balcony Maintenance in Washington Condominiums

Budgeting for Deck and Balcony Maintenance in Washington Condominiums In Washington state, decks and balconies are a significant expense for condominium associations. Proper maintenance is crucial to avoid costly future repairs and replacements. We have found that decks and balconies are an area of significant expense particulair if the association has not been doing regular [...]

By rbunzel|2024-06-17T14:41:17-07:00June 17th, 2024|Community Assets, Repairs|Comments Off

The Importance of Regular Deck Inspections in Condominiums

Regular Deck Inspections in Condominiums Condominium living offers a unique blend of comfort and convenience, with shared amenities like decks or balconies creating a sense of community. However, these outdoor spaces also come with inherent risks, particularly when it comes to structural integrity and safety. That's why regular deck / balcony inspections by qualified professionals [...]

By rbunzel|2024-01-11T15:04:11-08:00January 11th, 2024|Community Assets, community risks, Special Assessments|Comments Off

Lies Contractors Tell your condominium or homeowner’s association

Lies Contractors Tell your condominium or homeowners association Washington state homeowners are expected to spend an average of $8,822 on repairs and renovations for their homes in 2023. This is according to a recent survey by HomeAdvisor, a marketplace for home improvement services. For a 30 unit condominium thats over $260,000, which is a significant [...]

By rbunzel|2023-12-07T11:58:38-08:00November 14th, 2023|Community Assets, Major Projects, Uncategorized|Comments Off

7 reasons to not ignore your condominium reserve study

7 reasons to not ignore your condominium reserve study: Deferred maintenance: Without a reserve study, it can be difficult to budget for and plan for major repairs and replacements. This can lead to deferred maintenance, which can cause the condition of the condominium/ homeowner complex to deteriorate over time. Special assessments: If the condominium/ [...]

By rbunzel|2023-10-08T15:42:16-07:00October 8th, 2023|Community Assets, planning, Reserve Balance|Comments Off

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