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The tragedy of Champlain Towers changed HOAs forever. What lessons should every board member remember today?
✅ Is a Reserve Study right for you? 👉 https://www.reservestudy.com/

Episode 166 marks the anniversary of an event that eventually led our host, Robert Nordlund, to start this podcast in the hope of educating board members so that we never experience a tragedy like this again. A reflection on the fifth anniversary of the tragic collapse of Champlain Towers South and the lasting impact it has had on the community association industry. A heartbreaking tragedy that claimed 98 lives, largest structural failure, and modern residential tragedy in U.S. history. For HOA board members and community leaders, it became an important reminder of the responsibility associations have regarding maintenance, repairs, and future planning. Robert shares his thoughts on why preparing reserve studies is so important and how proper financial planning helps protect communities.

Chapters:

00:00 Why do HOA board decisions impact the future of a community?
01:04 What lessons did HOAs learn from the Champlain Towers tragedy?
03:44 What happened when Champlain Towers South collapsed?
05:37 Why did the Champlain Towers collapse affect the entire HOA industry?
07:06 What caused the Champlain Towers South tragedy?
08:32 Why is deferred maintenance dangerous for HOAs?
10:18 How did Champlain Towers change the way HOA boards think?
11:37 Why do HOA board members need long-term thinking?
13:11 What responsibilities do HOA board members have?
15:11 Why can't HOAs ignore the cost of deterioration?
17:11 Ad Break - Association Reserves
17:42 How can HOA boards prevent another Champlain Towers tragedy?
18:43 How much should HOAs contribute to reserves?
20:14 Why did Fannie Mae change HOA reserve requirements?
22:30 How can transparency help HOA boards make better decisions?
23:33 Why does preventive maintenance save HOAs money?
24:51 How often should an HOA update their reserve study?
27:11 Why is reserve funding like a usage fee for homeowners?
28:10 What resources help HOAs maintain aging buildings?
29:18 Why are inspections important for older HOA communities?
30:48 What is the biggest lesson from Champlain Towers?

The views & opinions expressed in this program are those of the Hosts & Guests, intended to provide general education about the community association industry. The content is not intended to provide specific advice or recommendations for any individual or organization.

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Julie Adamen

Kevin Davis, CIRMS

Robert Nordlund, PE

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HOA fraud happens more often than most boards realize. Here's how to make your community a harder target!
✅ Is a Reserve Study right for you? 👉 https://www.reservestudy.com/

In Episode 165, we're joined once again by repeat guest Russell Munz of Community Financials. Serving associations nationwide, Community Financials provides financial management and a variety of remote services to help HOA boards operate more effectively. One of Russell's recent newsletters focused on preventing fraud & embezzlement within HOA boards, and after reading it, we knew it was a message worth sharing with our podcast audience!

Chapters:

00:00 What financial red flags should every HOA board notice?
00:44 Why HOA fraud is more common than most boards realize
03:30 Should homeowners have access to HOA financial reports?
05:40 What financial reports should every HOA board review?
07:10 Can finance committees help prevent HOA fraud?
07:48 Why every board member—not just the treasurer—must review finances
09:16 Which financial reports matter most each month?
11:23 How did an HOA lose $11 million to fraud?
13:30 Is HOA fraud caused by bad people or bad systems?
15:04 Why transparency is your best defense against fraud
17:01 How simple mistakes allow fraud to happen
18:43 What three conditions make fraud possible?
19:49 Ad Break - Community Financials
20:20 What internal controls should every HOA implement?
22:48 How can vendor oversight prevent embezzlement?
24:22 What financial reports should boards question every month?
26:29 Why bank statements and reconciliations matter
29:22 What oversight habits catch fraud before it grows?
32:13 Why reserve accounts need the same protection as operating funds
33:00 What final steps make your HOA a hard target for fraud?
35:00 Why "trust but verify" is every board's best policy

The views & opinions expressed in this program are those of the Hosts & Guests, intended to provide general education about the community association industry. The content is not intended to provide specific advice or recommendations for any individual or organization.

Podcast Links:
Full Episode List
Watch On Youtube

Engage in the conversation!

Call our 24/7 voicemail line at (805) 203-3130 or send an email or voice memo to podcast@reservestudy.com

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Julie Adamen

Kevin Davis, CIRMS

Robert Nordlund, PE

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Are your HOA vendors truly serving your community or just benefiting from a trusted relationship? Listen to find out the signs that might be costing your association!
✅ Is a Reserve Study right for you? 👉 https://www.reservestudy.com/

This week, Robert sits down with Board Hero, Peter Isakovic, a homeowner and board member from Colorado. He serves on the board of the CAI Rocky Mountain Chapter, and came to our attention as the author of a recent article for Common Interest, “Are ‘Preferred’ Contractors Preferred?”. The cautionary article discussed the importance of upholding the standard and integrity of your HOA’s vendors, while creating the best outcome for your community’s health and financial future. HOA Insights continues to set you up for success, ensuring you make the best financial decisions for your community by understanding blind spots that could be costing you money.

Chapters:

00:00 Why homeowner trust matters in HOA leadership
00:52 Introducing Peter Isakovic and the HOA vendor problem
03:41 How Peter got involved with his HOA board
06:21 Why homeowner voices matter in community associations
08:27 Running your HOA like a business
10:00 Why board members need to question vendors
12:25 When a management company relationship goes wrong
14:10 Death by a thousand paper cuts: hidden HOA costs
16:52 The $28,000 front door that raised red flags
18:18 Facing HOA financial reality and homeowner pushback
21:23 The importance of transparency with homeowners
22:48 Sponsor Break - Association Reserves
23:19 Reviewing invoices and finding costly mistakes
25:12 Curiosity, courage, and effective HOA leadership
27:18 Building trust through visibility and communication
28:01 Why proper licensing and insurance matter
29:27 Contract language can make or break your HOA
31:10 Building your own trusted vendor network
34:21 Final lessons for protecting HOA finances
35:41 Closing thoughts and key takeaways

The views & opinions expressed in this program are those of the Hosts & Guests, intended to provide general education about the community association industry. The content is not intended to provide specific advice or recommendations for any individual or organization.

Podcast Links:
Full Episode List
Watch On Youtube

Engage in the conversation!

Call our 24/7 voicemail line at (805) 203-3130 or send an email or voice memo to podcast@reservestudy.com

Nominate yourself or a Board Hero you Know!
Board Hero Nominations

Boardmember Merch Store!

Connect with Hosts on LinkedIn

Julie Adamen

Kevin Davis, CIRMS

Robert Nordlund, PE

Support Our Sponsors

Association Insights & Marketplace

Association Reserves

Community Financials

Kevin Davis Insurance Services

Stoke Light Video & Marketing

The Inspectors of Election