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.
Read MoreOn 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.
Read MoreProtecting 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.
Read MoreOne 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.
Read MoreReserve studies serve many purposes. Read on to learn more about the purposes that a reserve study provides to an HOA community.
Read MoreAn HOA reserve study is essential in examining and maintaining the financial health of your association. Find out what a reserve fund study is, and how will it help your community.
Read MoreThe HOA finance committee fulfills many essential responsibilities, especially in a self-managed community. With a capable finance committee, the HOA board will find it easier to manage its financial duties.
Read MoreBudgeting is vital to the success of your homeowners' association (HOA) and can prevent your community from facing financial troubles. Here are some tips to ensure that your community association is proactive, prepared, and adequately plans for the future.
Read More2021 is coming to a close, and a new year means it's time to make resolutions. For homeowners associations, it means doing things better in the new year. Here are some of the best HOA New Year's resolutions that boards can make to improve their community!
Read MoreA homeowners association is the cornerstone of a planned community. When run properly, it brings continuity, preserves architectural integrity, maintains common areas, protects property values, and promotes the concept of "community." Every association should be responsible for its assets and operation following state laws and the community's governing documents.
Read MoreThis post focuses on the following question: How should HOAs allocate reserve fund contributions between the community's portion completed and future planned build-outs?
Read MoreLike any relationship, one built on trust is an important one between an association's board members and its community association management company. It's the primary reason this relationship exists in the first place. A board of directors calls on a management company to help execute the responsibilities it has to its residents. Therefore the way a management company pays its bills can significantly impact the level of trust and overall quality of the relationship—for better or worse.
Read MoreYou may be able to enhance value and save money on budget items you never considered. The even better news? Our professional property management company can help! In some cases, that may mean getting higher value for your money than seeing instant savings. Read on to learn more.
Read MoreThe COVID-19 pandemic is creating financial impacts that may change the course of dues in the future. Board members may have to invest in extra cleaning, disinfecting, and other services to help keep residents safe and healthy. At the same time, however, your association's residents may have difficulty making their assessment payments.
Read MoreSignificant expenses in development occur, and homeowners must cover the costs, one way or another. An HOA commonly maintains a type of savings account called the cash reserves or a reserve account for significant, infrequent, or unexpected common area costs.
Read MoreYour community may have received insurance money from Hurricane Irma and Hurricane Michael. Or maybe you weren't directly affected by these two hurricanes, but others from the past. Floridians are continually facing the blows of hurricanes to their towns.
Read MoreIf your association requires repairs, maintenance upgrades, or common area improvements, you may want to consider taking out an HOA loan or line of credit. Loans help fund a variety of unexpected projects when the individual assessment cannot cover the expenses. We are here to help you understand the process and answer the most common questions associations have when taking out a loan or a line of credit.
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