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…
Proper HOA conflict resolution is necessary for successfully managing a homeowners association. However, too many board members are left without direction when faced with disputes. Fortunately, some proven tactics can help even the most inexperienced HOA board deal with conflicts, whether they are conflicts between homeowners, board members, or a mix of the two. …
An HOA capital improvement can tremendously impact the appearance and quality of life in your community. However, too many HOA boards don’t even know what a capital improvement project is. They confuse it with maintenance work and, therefore, mistakenly use the wrong funds to pay for capital expenditures. Board members should familiarize themselves with capital…
The Open Meeting Act is an important aspect of establishing an effective HOA. It may not apply to every homeowners’ association in the US, but it is worth understanding. The law has many implications for HOAs. Moreover, understanding it can be helpful to conduct more productive meetings. What Is the Open Meeting Act for…
Bringing out Fourth of July cocktails is a wonderful way to celebrate the holiday. What’s a celebration without a few fun drinks? But, it can be a little daunting to choose the right recipe for the occasion. We’re here to help. Here are a few cocktail recipes for the 4th of July parties you can…
There are different types of HOA meetings, each one with a specific purpose. Understanding the function of these meetings and what goes on in them is critical to both board members and homeowners. This will allow board members to conduct meetings more efficiently and homeowners to identify which meetings they should attend. What Is…
There is a lot more that goes into selling a house in an HOA than one might think. Sellers must prepare certain documents and make certain disclosures to potential buyers prior to closing. This is because not everyone wants to live in a community managed by a homeowners association. Some states even mandate sellers to…
This coming holiday, homeowners associations everywhere are gearing up to throw fun Memorial Day weekend activities for residents. These activities help spread the feeling of patriotism and community, strengthening the bond that residents share. And while you can certainly get creative, there are some classic Memorial Day activities that achieve this goal every time. …
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.
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…