If just a few homeowners aren’t paying their HOA fees it can be felt very quickly in an association’s budget. It can also cause a ripple effect. If too many homeowners fail to pay their HOA fees, lenders might start to be unwilling to finance mortgages in the association. This could lead to a decrease in property values.
In our busy world of the internet, mobile phones, television, email, social media, and daily conversation, we’re on 24-7 information overload. We’re communicating non-stop all day, and when we finally reach the comfort of our home we just want to catch our breath. However, communication is what we were made for, and it keeps us informed about life around us. So, when you receive communication from the HOA board, there a few things you don’t want to do.
There are a lot of property managers out there. They have different backgrounds, styles and strengths. It is important for the board of directors of your homeowner’s association to look for a management company that will best serve your community. Do they have the expertise that your association needs?
Funding community operations is one of the most important, if not the most important, functions of an HOA board. Properly overseeing day-to-day actions and long-term projects ensures the homeowners association will have a continuous supply of funds to keep the community running effectively.
It's sometimes challenging to discuss and answer questions about parking within your homeowners association. While the rules regarding parking in each association are different here are some tips on how to answer common questions.