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HOA Resale Package: What Is It And What Does It Include?

The HOA resale package plays an important role in the sale process of a home in an HOA community. Both buyers and sellers should understand what a resale package is and what its contents are. Similarly, board members and community managers alike should prepare themselves to provide this package when faced with a request.  …

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fight hoa fines

Can You Fight HOA Fines? How To Do It The Right Way

Upon receiving a violation notice, most homeowners’ first instinct is to fight HOA fines. Homeowners associations charge fines to deter violations and help keep the community orderly. Not all homeowners feel that they deserve to be slapped with a fine. Homeowners who believe they have done nothing wrong often think of ways to dispute the…

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hoa board get paid

Should The HOA Board Get Paid?

Should the HOA board get paid? When faced with a shortage of potential candidates, some associations toy with the idea of offering a salary to those willing to serve on the board. In other communities, the board members themselves call for a salary. However, providing compensation to board members can quickly blur the lines on…

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honoring community workers

Local Heroes: Honoring Community Workers This Labor Day

Labor Day provides an opportunity to honor those who provide essential services to local communities. From firefighters and policemen to postal workers, here’s how HOAs can go about honoring community workers this holiday.   Who are the Community Workers? People often do not notice the individuals who provide them with essential services. However, these unsung heroes…

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hoa late payments affect credit score

Do HOA Late Payments Affect Credit Score?

Believe it or not, HOA late payments can affect credit scores. When homeowners stop paying their dues or make late payments, their credit scores can take a hit. It can worsen if their missed payments become a lien and a full-blown foreclosure.   Can HOA Late Payments Affect Credit Scores? Homeowners in an HOA have…

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hoa waive late fees

Should An HOA Waive Late Fees?

Should an HOA waive late fees? Board members of an HOA community will likely struggle with this question at least once during their tenure. Before making a snap decision, board members should understand their governing documents. Moreover, it is important to consider the advantages and disadvantages that such an action would bring.   Can HOA…

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integrated banking for HOAs

The Need For Integrated Banking For HOAs

Integrated banking systems for HOAs are designed to bring all financial activities under one digital roof, offering a seamless experience for both administrators and residents. Given the critical role HOAs play, efficient financial management is essential to ensure smooth operations. With an integrated banking system, the days of juggling spreadsheets, manual accounting, and physical bank…

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late hoa dues affect hoa finances

How Can Late HOA Dues Affect HOA Finances?

Late HOA dues affect HOA finances in a big way. While homeowners may not see it — often worried about their financial strains — late payments can significantly negatively impact an HOA community. As such, homeowners should always strive to pay their dues on time and consult their HOA board for options in financial struggles.…

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underfunded hoa reserves

Do You Have Underfunded HOA Reserves? Why Is That?

Far too many homeowners associations have underfunded HOA reserves, not recognizing the importance that reserves play in a community’s financial stability. To avoid and potentially remedy underfunded reserves, an HOA board must first analyze its situation and determine possible causes. From there, the board can seek the proper solutions and keep the association financially healthy.…

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