The sooner you address delinquent HOA fees, the better off your community will be. Make homeowners aware of how soon the HOA will take action if payments are not collected to create a sense of urgency for submitting dues on time.
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Community association management agreements are a common way for homeowner's associations (HOAs) and condominium associations to ensure that their communities are well-maintained and properly managed. One common approach to pricing these agreements is to offer a pay-as-you-go model rather than charging one full price for everything.
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On the surface, unit owners within an HOA are likely pleased with the increase in the value of their homes. However, a high level of inflation is likely to have a less desirable effect on the long-term financial health of the HOA.
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Protecting yourself and your community from HOA fraud is essential, and w ith the proper knowledge and cautionary measures, you can ensure your HOA remains safe and secure for years.
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One of the many benefits of HOA living is that homeowners share the costs of keeping up the HOA community, with economies of scale usually reducing the individual price. The association's duties are nothing more than the individual homeowner has–they're just shared.
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