HOA Accounting and Management Articles and Advice
Many homeowners associations mistakenly believe that they require full-service management for smooth operations. However, this kind of mindset might cause associations to overspend on an expense they don’t even need.
Tax season is always a stressful time of the year. One of the questions HOA residents commonly ask is, “Are HOA fees tax deductible?” The answer, though, is not as simple. Are HOA Fees Tax Deductible? A homeowners association runs a community by imposing certain rules, preserving its aesthetics, and maintaining various aspects of…
The coronavirus outbreak has forced many businesses to redefine the way they hold meetings. Homeowners associations are not exempt from this. Because board members make decisions during board meetings, most HOAs are concerned about halting operations amid the outbreak. But through HOA remote meetings, your HOA can continue to run without hindrance. In this…
Managing and overseeing the finances of your HOA should be one of the board’s main priorities. That said, many HOA board members may not have experience with HOA financial reports. If you still have questions about financial reports of your association, here’s what you need to know. HOA Financial Reports and The Board’s Responsibility…
Financial-only HOA management can sound unusual at first, but in reality, many communities find it exactly what they need. Boards may assume that management must come in a single, complete package, but that is not always the case. In the end, financial-only management makes sense for associations that want to keep control of day-to-day operations…
An HOA lockbox may sound like a small detail at first, but for many associations, it can make a major difference. Boards always deal with payments, checks, deposits, and the stress of accounting. This is why boards should consider adopting a lockbox system, as it helps bring order to what is usually a messy, time-consuming…
The HOA balcony law is a major piece of legislation in California that boards can’t afford to overlook. When it comes to balconies, decks, and other elevated structures, these may look like ordinary parts of a building, but in reality, they can become serious hazards if the board fails to maintain them. That said, Senate…
Summer is the perfect time to start planning for HOA fall projects. With cooler weather and shorter days, boards will have an easier time scheduling maintenance, repairs, and upgrades. Making these preparations in the fall season also helps ensure that the community is ready for the winter. How to Plan and Budget for HOA…
There may come a time when homeowners would want to push for an HOA board recall. This process can be a tricky one, and certain requirements must be followed to ensure validity. Failure to meet these requirements and follow proper procedures can result in a wrongful recall, which would effectively undo the results. What…
Technology is transforming community management, making it increasingly necessary to learn how to utilize AI for HOA tasks. Artificial intelligence can help boards and managers work smarter, reduce costs, and improve resident satisfaction. When applied carefully, it can streamline daily operations and free up time for board members to focus on the bigger picture. …
For community associations, HOA discrimination laws play a critical role in shaping how boards operate and make decisions. These laws exist to protect homeowners and residents from unfair treatment while holding HOAs accountable. Understanding them helps prevent costly lawsuits and fosters inclusive communities. The Importance of Understanding HOA Discrimination Laws Every HOA board has…
Labor Day thanks are about more than just acknowledging a holiday. It is a chance to honor the people who keep communities thriving every day. In an HOA, many individuals work behind the scenes to ensure everything runs smoothly. It is important to recognize their contributions to make the holiday more meaningful and instill a…
An HOA lawyer plays an essential role in managing legal matters that affect homeowners associations. From drafting governing documents to representing the board in court, these professionals help ensure the association operates within the law while protecting the interests of the community. At the same time, lawyers can help protect the rights of homeowners and…
The HOA duty to protect is a common concern for homeowners and board members alike. Many expect their homeowners association to maintain a safe and secure community. But what exactly is the HOA responsible for? Is safety a legal obligation or just a gesture of goodwill? Is There Such a Thing as HOA Duty…