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hoa budget during the pandemic

How To Adjust An HOA Budget During The Pandemic

The coronavirus outbreak has financially impaired Americans nationwide, affecting homeowners associations in the process. To avoid financial ruin, it is imperative to learn how to modify your HOA budget during the pandemic.   The Importance of Adjusting Your HOA Budget During the Pandemic When COVID-19 first came onto the scene, many thought it would run its…

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Tax deductions and HOA fees

Are HOA Fees Tax Deductible?

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…

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man installing Christmas lights | holiday lighting rules

Holiday Lighting Rules In Your HOA: What’s Fair?

Christmas lights have always been and always will be part of homeowners association holiday decorations. However, it’s still important to establish holiday lighting rules to maintain the aesthetics of your community. Here’s how to determine which rules are fair and which aren’t.   Why Do You Need Holiday Lighting Rules? Decorating your home with Christmas…

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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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