Budget Preparation Tips – Article by Neighborhoodlink.com
In order to operate a successful community association, foundation community, or development community there are many important facets of association governance that must be understood and implemented by its board of directors. One of the most important is the budgeting process. See: Six Steps To Create And Manage A Budget if you are looking for help on … Continue reading
Are You Contributing Too Much to Your Co-op / Condo Reserve Fund? – Article by By Robert M. Nordlund, P.E., R.S
You don’t want to make reserve-fund contributions that are too little, which may lead your co-op board or condo association toward borrowing, making a special assessment or even incurring the higher costs that come with deferred maintenance. But you shouldn’t put away too much, either. As a professional engineer and the president of a company … Continue reading
The importance of having assessments – Article by By Doug Ward, CCAM, CMCA, AMS of Amber Property Management
Assessments are a necessity for common interest developments to conduct business. Simply put, without the assessments, the community cannot operate. Assessments, commonly improperly referred to as dues, are generally collected on a monthly basis by either a monthly billing reminder or a coupon book provided by the community’s management company. These amounts vary from community … Continue reading
Have a “Q”? Because we have your “A” – An amazing complied list of HOA Q & A – Article by hoaqanda.com
JUSTIFIED EXPENDITURES Q. Can the board of directors of our association spend association funds on what amounts to a political issue? The board wants to spend funds to stop a nearby development, based on the belief that it will harm the value of homes in our community. A. Absent a prohibition in the … Continue reading
HOA Reserve Study Tutorial – Article by Richard Thompson
Every homeowner association should exercise a plan to repair and replace major common area components like roofs, siding, and decks. Healthy reserves are critical to a healthy association because: Buyers examine the Reserves before buying Lenders examine the Reserves before approving a loan The board has a fiduciary responsibility to protect the association from financial … Continue reading
