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…
The financial health of an HOA is an important matter not just for the HOA board, but also for members as well. How would you know about the fiscal health of the HOA? There are many ways to check HOA’s financial health. Your home and neighborhood are always worth the time to look into your…
Whether you are planning on taking the burden of the yearly budget upon the shoulders of your HOA board, or you plan to get the assistance of an HOA management company, the annual budget is one of the most important items on the agenda of any homeowners association. Here is your step-by-step guide on how…
How to lower HOA fees and make residents happy? That’s a question many HOA board directors try to answer as they step into the position. But first, why are HOA fees so high in the first place? That’s a good approach to look for ways to reduce HOA dues. When HOA fees are too high,…
A homeowners association is led by competent leaders in the form of a board of directors. One of the members in an HOA board is the treasurer. But, beyond being responsible for money matters, what does an HOA treasurer do? Let’s find out. What Tasks Does an HOA Treasurer Do? Whether you are a…
HOA budget committee responsibilities come up in a major way once a year. When it’s time to draw up a budget, most HOA committee guidelines have provisions for a budget board. The need for this specific committee is pretty obvious then. But what does a budget committee do the rest of the year? As it…