HOA board members are supposed to do everything they can to keep the association financially healthy. To exercise this responsibility, they need to deal with reserve funds successfully. In addition to being aware of what this money is used for, HOA managers and...
Whether you’re a resident of a small condominium or apartment complex, you must comply with all the rules put in place by the homeowner’s association (HOA). Also, all the HOA board members should be aware of the regulations and how to use them correctly....
An HOA’s reserve is an integral part of its financial stability because this fund helps pay for significant repairs and replacements that come up over time. Unfortunately, many HOAs have underfunded reserves, which can cause some big problems down the...
The pandemic has left some lasting effects on many businesses, including struggles with budgets and revenue. Homeowners Associations (HOA) have also been significantly impacted across the country. In particular, the outbreak has led to an increase in expenses...
If you are an HOA Board Member, you have a tough job. Your responsibility is to manage the community while also watching out for the bottom line. It can be challenging to balance these two goals, so having a reserve study will help. The reserve study is critical for...
An HOA board member is a person who devotes a great deal of time and resources to the community. You are not a passive observer destined to pass judgment without doing anything. Being in a position of power involves certain responsibilities. As one of your duties, you...
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