Among the many financial statements of an organization, the income statement is one of the most essential. But, what does an HOA income statement include? And what purpose does it serve a homeowners association? Let’s find out. What Is an HOA Income Statement? To put it simply, an HOA income statement shows the revenues…
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…
It’s not easy to deal with delinquent homeowners association dues. While every board hopes that residents in their community will pay their HOA fees on time, you cannot always guarantee it. In extreme situations, the board may need to call on a debt collection agency for HOA delinquency cases. HOA collection services can be very…
Even with the advent of new technologies like the internet, many homeowners associations are still stuck in the paper age. If your community still uses traditional paper statements and checks, it’s time to upgrade your method of HOA collections. There are many advantages to paying HOA dues online — both for the association and the…
Do you want to know how to lower HOA fees and make residents happy? When HOA fees are too high, it’s perhaps time to take steps to reduce HOA fees. However, when reducing fees, it’s important to consider what the HOA is willing to give up. Cutting costs is the obvious first choice, but it…