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…
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…
Several closing costs come with the purchase of a new home. And if the house is part of a homeowners association, one of the costs is the HOA capital contribution. But what is this fee anyway? Understanding the HOA Capital Contribution Fee Buying a home is one of the most significant investments. But, homes…
There is a lot that goes into managing a homeowners association. But, with the right tools, it can be made significantly more straightforward. Here are the HOA online services every community should have. The Essential HOA Online Services In an HOA community, homeowners will naturally have many concerns they wish to resolve. One homeowner…
Drinks can make or break any holiday dinner. Whether you’re in need of a pick-me-up or just want to impress your guests, a Christmas punch recipe should do the trick. Wow the Crowd With a Delicious Christmas Punch Recipe Christmas is just around the corner, which means people are gearing up for holiday get-togethers. Parties…
For most organizations, tax season is one of the most stressful times of the year. Homeowners associations are no exception. Here is what you need to know about HOA tax returns. Do You Have to File HOA Tax Returns? Many homeowners associations operate with the incorrect assumption that they don’t have to pay taxes or…
Every now and then, an HOA board conflict will arise. When that happens, what should the HOA management company do? Should the company even intervene in the first place? Reasons an HOA Board Conflict May Arise HOA board members are not immune to conflict. Just as neighbors can have disputes, board members can also fight…