HOA Fees — Hated or Just Misunderstood?

HOA Fees — Hated or Just Misunderstood?

Burke Nielsen Nearly every homeowner in a condo or HOA has asked themselves at one time or another “What do the HOA fees pay for”. The answer is different for every community but the fact is the average homeowner doesn’t know where HOA fees are spent. Heck, you probably have a better idea where the homeless guy is going to spend the 2 dollars you gave him this morning. But every member of the HOA should know where the money is going — or at least be able to easily find out. Read More...
Common Amenities — Make Them Pay for Themselves!

Common Amenities — Make Them Pay for Themselves!

Tina Larsson Start with amenities that can bring in the most money to the association for the lowest up front cost. This way, the first added amenity can pay for the next one; and so on. Adding advertising in the form of signs or billboards can be revenue generators, but are not allowed in many residential areas. However, ATM machines bring in revenue, can be thought of as an amenity by some, and do not take up a lot of room. Read More...
Making Smart HOA Budget Cuts

Making Smart HOA Budget Cuts

Tina Larsson HOA Managers and Board Members are constantly struggling with increasing costs, which they have to pass on to HOA members. For this exercise, the reason why costs are increasing isn't that relevant. The important point to remember when it comes to increases is that they usually increase, on average, at a rate greater than inflation. Read More...
The Revenue Roller Coaster

The Revenue Roller Coaster

Burke Nielsen The problem with increasing dues every 6 years, is that the amount is usually so large that it becomes a big financial hit for most homeowners. When dues don't increase for a long time, many homeowners start to believe that dues should never increase. The way they see it, “the HOA was just fine up until now, so this 30% increase seems like an outrage” — and quite frankly they're right! Read More...
Are Your Reserves Protected by FDIC?

Are Your Reserves Protected by FDIC?

Craig Huntington With the recent stress in the financial market, many boards and property management companies are beginning to more closely monitor the insurance of their funds. For many years now, leaders in the HOA banking and auditing industry have stressed the importance of following established laws and adhering to their fiduciary responsibility that governs the insurance of these funds, and the recent financial stresses further emphasize this need. One of the most widely accepted and valuable tools for ensuring full insured funds are a program called CDARS. Read More...

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