Melissa Esham is the Community Association Advisor for Deeley Insurance Group. She has eight years of experience specializing in the needs of community associations and 17 years of community management experience. Melissa grew up in Ocean Pines, MD and now resides in a condominium association in Berlin.

Replacement Cost Value and Your Mortgage

In order to get a mortgage on a condominium, the condominium association has to have sufficient insurance. Unit owners are tasked with getting a certificate of insurance from the insurance agent and providing it to the mortgage company on an annual basis. Mortgage companies have gotten stricter with their requirements. Now lenders provide lists of…

Beautiful Waterfront Homes At Sunrise In Summertime

Managing Common Risks for Condominium and Community Associations

Condominium and community associations carry out several essential tasks and responsibilities, such as ensuring the facilities are maintained properly or managing the budget appropriately. However, these entities also face numerous risks. As such, they need to be aware of their exposures to enhance community safety and financial stability. Common Risks Common risks condominium and community…

Hurricane Season at the Beach: What to Know and Where to Go

The Atlantic Hurricane Season is from June through November. The Town of Ocean City closely monitors all tropical storms and stays in touch with the National Weather Service during any pending storms. Hurricane Watches and Hurricane Warnings are issued by the National Hurricane Center in Miami. A WATCH is issued for an area that could…

Who is on Your Board?

Getting volunteers to serve on the Board of a Community Association can be difficult. After weeding out the people who may have joined for personal agendas, you are left with a few dedicated individuals who selflessly give of their time, knowledge and energy to run the association. Even with professional management, running a community association…

A man looking at documents pertaining to a house sale agreement. Focus on a model house on top of documents in the foreground, while the man - sitting at a table and studying the agreement papers - is defocused beyond.

Fannie Mae Loan Requirements

What’s happening? Effective 2/7/2024, new guidelines were rolled out regarding condo master insurance policies in relation to conforming loans with Fannie Mae. The Issues Replacement Cost Value The master property insurance policy must provide for claims to be settled on a replacement cost basis. Property insurance policies that provide for claims to be settled on…

Residential electrical box, open to reveal circuit breakers inside.

Mandatory Recommendations – Electrical Panels, Trimming Trees, Fire System Inspections…

The insurance renewal is completed, the coverage is procured, and the Board and management let out a collective sigh of relief.    Due to market conditions, many communities are changing carriers. When writing new property, or every few years, carriers will send a Risk Inspector out to view what they are insuring and make sure the building…