Winter is a wonderful time of the year, but it can also give rise to unexpected expenses for an association. HOA managers must think ahead and make sure the HOA snow removal budget is up-to-date. This way, you can ensure a community runs smoothly even during the cold months. Planning for HOA Snow Removal…
Having the finances well-organized in your community association is essential to maintain a great reputation amongst current and future residents. Many HOAs are not responsible with their finances, which causes them to not operate at their maximum potential. If you want to avoid money problems down the road, consider these financial tips for an HOA.…
A homeowners association budget is essential for the success of your community, but HOA budget planning isn’t easy. You need to organize your finances to cover all maintenance costs, capital improvement projects, and other community expenses. A proper community association budget keeps property values high and ensures the well-being of your residents. Here are important…
Managing your HOA budget is no easy feat. Many HOA boards are learning how to manage the community association budget as they go along. As a result, budgeting mistakes can become a regular part of HOA budget management in your community. However, community association budget management does not need to be a costly learning experience…
When you create your next community association budget, you will likely make some decisions that are unpopular with certain members of your community. To avoid unnecessary conflicts with community members, it is important to make residents feel like they are included in the budget process. Practicing budget transparency makes residents feel important and limits potential…
HOA special assessments can be a source of friction between the board and community members. What is a special assessment, and how does HOA special assessment rules affect residents? Can an association just call for an HOA assessment or a condo assessment in the case of high-rise communities? Let’s take a look at why HOAs…
When you reside in a property that belongs to a homeowners association, you are asked to pay regular dues. But, many homeowners still don’t fully grasp what these payments are for and how they are computed. So, what are HOA dues? And does it really matter if you stop paying them? What Are HOA Dues?…
An HOA statement of receivables, or accounts receivable statement, is a document that details the outstanding charges owed to the community association. This can be from sources such as overdue assessments, vendor credits, late fees, or any other outstanding source of income. It is essentially a list of every account that still owes the HOA…
One of the essential duties of the HOA board is to review the annual budget and make adjustments when necessary. Unfortunately, not every budget will have enough wiggle room especially when it comes to operating expenses. The good news, however, is that there are other measures that can help trim your budget to more manageable…
Can HOA fees go up, and when do do, how much can HOA fees increase? These are some questions many HOA members often ask about their homeowner dues. How often do HOA fees go up depends on the circumstances of a community. As a community manager, you have a lot to manage when it comes…