Do you Need a Property Insurance Policy for HOAs?

When becoming a member of HOA, residents give some amount of money per month or year to maintain their property values and share common areas with their neighbors. HOA board members or property managers become responsible for maintaining common areas (pools, athletic courts, tennis, park, clubhouses, etc.). They manage the budget, assess HOA dues, communicate [...]

By |2021-09-20T06:47:14-07:00September 20th, 2021|News|Comments Off on Do you Need a Property Insurance Policy for HOAs?

HOA Liability for Neighbor-to-Neighbor Disputes & Harassment

It is never pleasing to see how your neighbors have disputes with each other. This not only disturbs the comfort and peace of the community but also creates an overall tense atmosphere. The case is especially true for residents within the area of the homeowner's association (HOA). The organization maintains property rules for residents and [...]

By |2021-09-14T01:13:09-07:00September 14th, 2021|News|Comments Off on HOA Liability for Neighbor-to-Neighbor Disputes & Harassment

Good HOA Board Member Qualities

To determine board qualifications, every HOA should review state legislation and its operating papers. However, there is currently no statute that specifies who might serve on an HOA board. Furthermore, many HOA rules do not demand board members to meet certain credentials. The qualities mentioned in the regulations are generally just suggested since it’s important [...]

By |2021-09-01T08:37:26-07:00August 29th, 2021|News|Comments Off on Good HOA Board Member Qualities

Step-By-Step Guide To The HOA Assessment Collection Process

Collecting dues for many homeowner associations can be a difficult task, especially when there are a large number of tenants. Fortunately, by following a straightforward procedure and examining all of your alternatives, you can make HOA assessment less of a hassle. Dues are the principal source of revenue for an HOA. An association would be [...]

By |2021-08-18T15:14:24-07:00August 18th, 2021|Financial, News|Comments Off on Step-By-Step Guide To The HOA Assessment Collection Process

Reserve Funds For Homeowners’ Associations

Just as it’s optimal for each individual to have their own savings account, a reserve fund acts as the same for homeowners associations. Emergencies are inevitable and they require quick responses which are often directly related to large sums of money. Your HOA’s preparedness for these emergencies with the help of HOA reserve funds maintains [...]

By |2021-07-26T23:57:11-07:00July 29th, 2021|News|Comments Off on Reserve Funds For Homeowners’ Associations

HOA: A Start-To-Finish Guide For Homeowners

In comparison to the difficulty of maintenance, more and more homeowners are attracted to the security and convenience of belonging to a privately regulated community. Perhaps there isn't an HOA community in your neighborhood, or perhaps starting one has always been your desire. There are various advantages to owning a home, but it also comes [...]

By |2021-07-21T04:35:50-07:00July 21st, 2021|News|Comments Off on HOA: A Start-To-Finish Guide For Homeowners

HOA Protected from Fraud and Embezzlement

Communities are assigned a board of directors to oversee the everyday operations, needs, and concerns of the community. However, this does not protect your community from fraudulent activity. The more informed you are about common HOA scams and fraud types, the more effectively you can take preventative measures to protect your HOA.  Hoa Common is [...]

By |2021-07-12T06:28:20-07:00July 12th, 2021|Financial, News|Comments Off on HOA Protected from Fraud and Embezzlement

HOA Budget 9 Best Practices and Importance

One of the most important responsibilities of the homeowners association (HOA) board is to create a budget. A well-managed HOA budget can help you successfully maximize funds while also improving your residents' quality of life. It's challenging to plan an HOA budget, especially if you've never done it before. It's easy to lose track of [...]

By |2021-08-30T04:50:59-07:00June 30th, 2021|News, Taxes|Comments Off on HOA Budget 9 Best Practices and Importance

Does an HOA have to conduct a reserve study?

First off, let’s briefly uncover what a reserve study is and what it entails. It is merely a report that reflects the useful life each common area component has remaining. Also, the report assigns dollar amounts associated with each component. These amounts reflect the amount needed from each owner to replace each item when it’s [...]

By |2021-08-18T03:00:16-07:00April 29th, 2021|News|Comments Off on Does an HOA have to conduct a reserve study?

Paying too much for your monthly HOA dues?

Paying too much for your monthly HOA dues? A lot of homeowners think that paying a high amount for their HOA dues is bad. However, it is better to pay a higher amount rather than have low reserve funds. Every HOA has a budget and a reserve study report. Those tools determine what the [...]

By |2021-08-12T00:53:24-07:00April 22nd, 2021|News|Comments Off on Paying too much for your monthly HOA dues?
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