In a homeowners association, what is the role of the finance committee? For some, an HOA financial committee is a prerequisite to success while others do not seem to be convinced of its importance. When it comes to your HOA, do you really need a finance committee? Here’s what you need to know to answer…
Every homeowners association is different, but most will run into the same basic problems. One such problem has to do with running an HOA home business. More specifically, should the association allow it? Determining the Legality of an HOA Home Business Operating a business from home is not uncommon, especially for startups and fledgling companies.…
Regardless of where your HOA is located, it is important to consider how to improve your organization each year. HOAs that are always forward-thinking and set out to achieve attainable goals will have a great deal of respect from their residents, along with smart financial management. If you are considering how to set SMART goals…
Set HOA goals at the start of each year. It’s a great way to use that fresh start to think forward to the yearly goals of the HOA you want to aim for. In your HOA Goal-setting session, think about the ways you can improve your association. What are HOA goals that you want to…
HOA rule compliance is an issue that association boards greatly struggle with. When structuring an approach, you need to balance the requirements of the HOA with the needs of the residents. It’s important to have a concrete structure in place to avoid unnecessary conflicts with your residents. If you want to learn more about effective…
The coronavirus outbreak has forced many businesses to redefine the way they hold meetings. Homeowners associations are not exempt from this. Because board members make decisions during board meetings, most HOAs are concerned about halting operations amid the outbreak. But through HOA remote meetings, your HOA can continue to run without hindrance. In this…
One very important aspect of maintaining the home values in the community is to have an established HOA architectural review board in place. Even though many HOAs have a system in place to review and approve any architectural requests from association members, few are fulfilling their obligations in a way that is simple for their…
Managing and overseeing the finances of your HOA should be one of the board’s main priorities. That said, many HOA board members may not have experience with HOA financial reports. If you still have questions about financial reports of your association, here’s what you need to know. HOA Financial Reports and The Board’s Responsibility…
Preparing your homeowners association annual budget takes a lot of time and effort. But, HOA budget presentation is an entirely separate undertaking — one that not many people know how to do. Thankfully, there are some tips you can adopt to effectively present HOA budgets to your community. Present HOA Budgets the Right Way…
When relocating to a new state, it’s important to be aware of new legislation that can affect your housing circumstances. Established residents should also remain informed about housing developments and what protections they have. This is particularly true in the state of California where the Accessory Dwelling Unit law was just passed. What Is…