Preventing Community Association Fraud: Part One – The Board’s Role
Posted on Thursday October 05, 2017
As a homeowner who lives in an association, you put a lot of trust in the people designated to manage your association’s money. So it can come as quite a shock if you discover that one of those people has been stealing from your association’s funds. Fraud can leave you and your neighbors feeling betrayed and vulnerable.
What Should My Association Consider When Planning a Budget?
Posted on Friday September 22, 2017
Budgeting can be tough. It requires that boards look at their priorities and the needs and wants of the community, plus the money coming in and going out -- and making it all balance. As an association board member, producing a responsible, effective budget is one of your primary responsibilities.
After the Storms: A Harvey and Irma Update from Our CEO
Posted on Thursday September 21, 2017
We have a very long road to recovery ahead for both Texas and Florida, for those of us affected by Hurricanes Harvey and Irma. In the aftermath of the storms, there are tangible examples of our industry leadership, and in particular, why our ability to immediately leverage the depth of resources we have at our disposal is such a powerful differentiator for us. Here are a few examples of how we leveraged our resources, organization-wide, to ensure seamless service delivery for our clients.
How Can We Improve Our Association’s Financial Stability?
Posted on Tuesday September 19, 2017
There’s a lot to love about living in a community with a homeowners association (HOA). The amenities. The sense of belonging. The high aesthetic standards. But none of that happens without stable finances. With that in mind, here’s the bottom line on financial best practices for your HOA.
How Can My HOA Create Revenue from Our Community Amenities?
Posted on Friday September 15, 2017
As a board member, your first responsibility to your association is to keep it fiscally fit. Wouldn’t it be nice to find some extra sources of revenue, to be able to make a little more of your operating budget? Take a look around – you might be able to generate some cash flow from your existing amenities. You may not find a huge windfall, but you also might be able to cover the costs of running a new activity or expanding a project, improving your residents’ lives and enhancing your property values at the same time.
Why Transparency Matters in Communicating Your Community Association Budget
Posted on Thursday September 14, 2017
You’ve done all the homework. Crunched the numbers. Your reserve study is complete, your vendor agreements have been checked and your budget is done! Now what? There’s an entire process to creating the budget, followed by implementing it, and clear communication to homeowners, through every step of the process, is the best way to avoid problems.
How to Plan an Effective Budget for a Community Association
Posted on Tuesday August 29, 2017
Preparing your association’s annual budget...it can be a source of stress, but more importantly, it’s a valuable opportunity to ensure the financial well-being of both your association and homeowners. Proper association management hinges on this financial tool for both short-term and long-term planning, so it’s important to follow some guidelines.
Buying a Home in a Community Association: Part Two – Evaluating an HOA’s Health
Posted on Monday August 07, 2017
So your diligent search for that home of your dreams has finally led you to one that fits all your criteria. However, it is in an association, and you have known people who belonged to condo or homeowners associations (HOAs) that were poorly run or financially mismanaged. You love the home, but you don’t know much about the association. Should you buy it anyway and hope for the best? Or is there a way to determine if your future community is well run and economically sound?
What You Need to Know About Resale Certificates and Packages
Posted on Friday July 14, 2017
We all know that there’s a lot of paperwork in the home buying process. If the home you want to buy is in a managed community of any kind, a resale package, including your resale certificate and governing documents, is part of that paperwork. Resale certificates and packages offer transparency about the community and whether or not the sellers are current in their financial obligations to the association. The package includes paperwork that protects the buyer and the seller, as well as minimizes financial risk for the association. It’s important to know what goes into a resale package, why you need it and how to get it before you buy or sell your home in a managed community.