When most people think of homeowners associations (HOAs), the first thing that comes to mind is the monthly HOA fees. However, there’s a lot more to HOAs than just fees! One of the most important aspects of HOAs is their operating fund. Here are seven things you should know about an HOA’s operating fund: What […]
Category Archives: Finances
29
Aug
Aug
You’ve heard the phrase “cash is king” before, and you may be wondering if that still holds true in today’s business environment. Cash flow management can be one of the most important tools in your arsenal when it comes to protecting your accounting processes, and with the right cash controls in place, you can ensure […]
25
Jul
Jul
Want to improve your COA’s cash flow? The size, growth, and projects in a Condo mostly depend on its community. Projects are mapped out, planned, budgeted, and determined to be important to a condo when community members are involved. This is because they are the ones to pay the fees and the special assessments when […]
23
Jul
Jul
Inflation has affected pretty much everything. From shopping online to shopping at your favorite mall. You get into a supermarket to get your favorite groceries and you either find them in reduced, smaller packs or with increased priced tags. You order an item online, and you get a call that it cannot be delivered at […]
16
Jul
Jul
Home Owner Associations and Condominium Associations are responsible for keeping the common areas of their property in good working order. As these communities age or as unforeseen acts of God or accidents happen, sometimes an unexpected repair or replacement needs to take place. For this reason, reserve funds are not optional, but an important part […]
01
Jun
Jun
As a condo manager, a real estate agent, or even a real estate attorney, being able to review a Condo financial statement is very important because it gives you an idea of how the association is managed and also sets your expectations with operating expenses once you decide to go ahead with the property investment. […]
11
May
May
The success of most condo associations depends on their finances. This is an important aspect not just for board members but also for homeowners and investors. Many argue that the first indicator for HOA finance health lies in the quality of maintenance and the physical outlook of such an association. The advantages of always evaluating […]
11
May
May
HOAs have seen a massive expansion in the past few years. It is estimated that 80% of new properties all belong to an association. Most people understand the benefits such as; value, quality of amenities, and structure that comes with living in an organized association and choose to live in them. However, the process of […]