Lifestyle Blog

5 Tips to Keep Homeowner Association Fees Down

Posted by Staff Writer on Aug 22, 2017 8:00:00 AM

 

 

If you're a Board member looking at how to keep fees in a homeowner association down, we have five things you can do to help reduce expenses. Without further delay, here they are:

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Topics: HOA Accounting, Board Education, Community Living, HOA Management

What is an HOA Reserve Specialist

Posted by Staff Writer on Aug 1, 2017 7:30:00 AM

An HOA reserve specialist conducts a study of the major capital systems within an homeowners association. The specialist evaluates the condition of major items, estimates when the item will need replacing, and projects the cost of replacement.  The purpose of such study is for associations to decide how much money to set aside for major upgrades and replacements. A reserve study serves as a guide to timeline estimates and projected costs.

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Topics: Board Education, HOA Accounting

Understanding HOA Fair Debt Collection Practices: Practice Tips

Posted by Staff Writer on Jun 13, 2017 7:30:00 AM

 


If you work for an HOA, serve on its Board of Directors, or own a property covered by one, there are a few things you should know about debt collection practices. So, to help you develop a greater understanding of HOA Fair Debt Collection Practices, we put together a few tips. Read on for the most useful tips you may get this year.

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Topics: HOA Accounting, Board Education, HOA Management

Understanding the Importance of a HOA Reserve Study

Posted by Staff Writer on Jun 6, 2017 7:30:00 AM

For each Home Owner's Association (HOA) there are regular expenses that come out of the annual operating fund, and there are the occasional necessary large expenses that must come from the HOA's reserve fund. It's not always easy to predict when these special expenses will occur or how much money they'll be and it's especially difficult to have already collected the right amount to pay for them. This is why HOAs often hire a Reserve Specialist to examine their potential future needs and make preparations to pay for these occasional community needs.

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Topics: HOA Accounting, Board Education

Tips for Understanding the Role of an HOA CPA

Posted by Staff Writer on May 30, 2017 9:31:17 AM

  
Both Board members and homeowners have an interest in the money end of an HOA's business. After all, it's the owners who have to pay higher fees when the homeowners association goes over budget. And it's the Board who is responsible for hiring the right people to run the HOA's financial business. The good news is that when it comes to understanding the role of an HOA CPA, you don't have to go it alone. Read on for tips for handling it.

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Topics: Board Education, HOA Accounting

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