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umbrella insurance | hoa insurance

What Are The Most Important HOA Insurance Coverages?  

Homeowners association insurance is a costly but a worthwhile expense because it offers financial protection in cases of damages or losses within the community. However, there are still plenty of HOA boards that do not realize the importance of HOA insurance. To ensure that your community is adequately protected, here are the most important HOA…

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homeowners association dues | hoa assessment

HOA Dues vs HOA Fees vs HOA Assessment

Part of residing in a homeowners association community is having to pay regular dues and the occasional HOA assessment. But, what is an assessment fee anyway? And does it really differ from HOA dues and fees?   What Is an HOA Assessment? Many people use the terms HOA assessments and HOA dues interchangeably either out…

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partial view of businessman pointing at calculator in hand | hoa initiation fee

What Is An HOA Initiation Fee? Is Charging Homeowners Legal?

Is your homeowners association charging you an initiation fee? Are you wondering if the association even has the right to impose such a fee against you? Here is everything you need to know about an HOA initiation fee.   Understanding the Legalities of an HOA Initiation Fee Anyone would feel apprehensive about paying fees they…

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bag | surplus funding

How To Handle HOA Surplus Funds

It is not often that homeowners associations encounter excess operating funds in their budget. But, in the event that you do, you must know the proper way to deal with them. Here is everything you need to know about HOA surplus funds.   What to Do With HOA Surplus Funds A lot of factors can…

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application form | hoa loans

Should Your HOA Take An HOA Loan Or Not?

Homeowners associations rely on a constant stream of funds in the form of assessments to cover the community’s operating expenses. But, there might come a time when this stream is interrupted for whatever reason, necessitating an HOA loan.   What Is an HOA Loan? Simply put, an HOA loan is a sum of money your…

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documents | hoa demand letter

What Is An HOA Demand Payoff Letter?

Homeowners are often surprised to discover additional fees and documents that are required before they can sell their property. For those who have received an HOA demand payoff letter, know that you are required by law to submit this requirement. To make the process clearer, here’s what you need to know about an HOA demand…

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spending money | HOA back office administration services

Is Your HOA Board Spending Too Much Time On HOA Back-Office Administration Services?

HOA back-office administration services are critical to any community, but they can also take up a lot of time in a workday. An HOA board must learn to balance these often prosaic tasks with other decision-making responsibilities.   Wasting Time on HOA Back-Office Administration Services HOA management naturally involves a lot of back-office administration work…

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man upset | HOA bankruptcy

Is HOA Bankruptcy An Option?

Whether due to an economic downturn or other reasons, homeowners associations are not exempt from financial issues. The situation can degenerate even further to the point that an HOA is forced to consider bankruptcy. But, is HOA bankruptcy even a viable option?   Can an Association File for HOA Bankruptcy? In a word, yes. Much…

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