Best Practices

Best Practices for Reserve Management

Reserve Studies & Reserve Management

What are best practices?

A best practice is a technique or method that has proven reliably to lead to a desired result or outcome. Business best practices are proven, repeatable, documented techniques that deliver measurable performance management improvements. These practices are industry-based and may be adapted to fit a unique organization or business. Benchmarking is a systematic process used to identify and implement best practices. The term best practice is most common in the fields of health care, government administration, higher education, business management, and technology.

Best Practices for Community Associations

Identifying and promoting best practices in the community association Industry is a key goal of the Foundation for Community Association Research and its parent organization, Community Associations Institute (CAI). The Foundation publishes Best Practices Reports related to operating and managing community associations and common interest ownership communities. Topic areas for Best Practices Reports are selected by the Foundation, working with CAI leaders, staff, and members. Benefits of using best practices include: improved quality and performance, better planning and evaluation methods, innovative approaches to operations and management, and increased organizational accountability.

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    Other Articles

    Sample Investment Policy

    Sample Investment Policy

    PURPOSE: The purpose of this Investment Directive is to provide a clear statement of the Organization’s investment objective, as defined in the organization’s Bylaws and establish a Finance Committee that is involved in preparing recommendations to the Board relating...

    Older Condos Part 2

    Older Condos Part 2

    THE FOUR C'S OF AN EFFECTIVE HOA BOARD Q&A The collapse of Champlain Towers South, a 12-story condominium association in Surfside, FL, captured the nation’s attention because it was so unexpected and so deadly. In the midst of so many unanswered questions about...

    Older Condos Part 1

    Older Condos Part 1

    THE FOUR C'S OF AN EFFECTIVE HOA BOARD Q&A The collapse of Champlain Towers South, a 12-story condominium association in Surfside, FL, captured the nation’s attention because it was so unexpected and so deadly. In the midst of so many unanswered questions about...

    Invest Like Other Institutions

    Invest Like Other Institutions

    Invest like other long-term institution Actual association reserve study values: nominal vs. invested in similar fashion to the Florida Retirement System (FRS) data commencing 2007. Download Now

    DBPR Education Guide

    DBPR Education Guide

    Investing Association Funds While the Condominium Act does not restrict the types of investments that associations may use to generate a return on it funds, there are a few things that board members should keep in mind about investing association funds. First, board...

    DBPR Budgets & Reserve Schedules

    DBPR Budgets & Reserve Schedules

    Department of Business and Professional Regulation DIVISION OF FLORIDA CONDOMINIUMS, TIMESHARES, AND MOBILE HOMES Our Goals To describe the budgeting process, and highlight the statutory requirements for preparing the association budget and reserve schedules. This...