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. What Is Full Service Management? Full-service HOA management refers to professional management performed on-site. With a full service management setup, an HOA manager typically…
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…
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. What Is Full Service Management? Full-service HOA management refers to professional management performed on-site. With a full service management setup, an HOA manager typically…
Practicing checks and balances in your HOA is a good way to protect the association’s funds, but not many boards even know where to begin. Fortunately, there are some steps you can take to ensure you keep your finances in check. The Importance of Establishing Checks and Balances in Your HOA Homeowners associations deal…
Every homeowners association should make sure it has sufficient insurance coverage. But, with rising HOA insurance rates, many are finding it difficult to keep up without causing significant financial strain to their bank accounts. Understanding the Phenomenon of Rising HOA Insurance Rates The HOA insurance market has been experiencing a notable shift within the last…
A competent HOA board should evaluate their community’s exposure to HOA insurance risks and include them in their next update. While some risks are easier to identify, there are other uncommon ones that you shouldn’t neglect. It is easy to dismiss the more uncommon risks, as they are less likely to happen. However, this type…
They say dessert is the best part of any meal, especially on holidays. This Easter, make an effort to wow your family by preparing one of these Easter dessert recipes. Tasty Easter Dessert Recipes You Won’t Forget No matter how full you are after a meal, there always seems to be room for dessert.…
Whether you are a board member, an HOA manager, or a homeowner, it is essential to understand the legal requirements placed upon HOAs. Here’s what you need to know about your HOA and ADA compliance. Understanding HOA and ADA Compliance Serving on the HOA board can be a rewarding experience. You get to make…
A neighborhood watch app poses both advantages and disadvantages. But, when it comes down to it, should a homeowners association invest in one? What Is a Neighborhood Watch App? Technology has come a long way in the past two decades. Smartphones are now a staple in society, and there is an app for nearly…
Despite its health risks, smoking remains a huge issue for many communities. But can a board even take action and prohibit smoking in a homeowners association? The Problem With Smoking in a Homeowners Association A few decades ago, you could see smoking everywhere and people smoking in bars, restaurants, and even parks. Fast forward…
No meal is ever complete without drinks. And the right beverage can do wonders for a dish. If you’re in need of Valentine’s Day cocktails, here are the best ones to enjoy. Valentine’s Day Cocktails to Up the Romance Drinks have a peculiar power in that they can either elevate or spoil your entire evening.…
In the past, newsletters were a staple in HOA communities. As technologies evolved, though, they have largely dwindled in number, with associations choosing other forms of communication. But, an HOA newsletter still has plenty of advantages. The Benefits of an HOA Newsletter Communication is a key part of a successful planned community. But, many…