Why a Loan is (Sometimes) a Good Idea for Your Homeowners Association

Jun 24, 2020 9:00:00 AM / by HOA Manager

Your association board is planning for the big project on the horizon, and is currently reviewing how to finance it. For several reasons, you don’t believe you’ll have enough funds in the association’s operating budget or reserves to cover the project’s entire bill. What should you do? Split the project up over several years, levy a special assessment, or maybe get a loan?

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How to Minimize Maintenance Expenses and Keep HOA Fees From Increasing

Apr 14, 2020 9:00:00 AM / by HOA Manager

We all know how important it is to try and consider taking a green approach in our daily routines. What if you could go green while also helping the community in your homeowners association? Residents can help their homeowners association minimize its maintenance expenses, which can also avoid HOA fees from increasing, by observing a few simple green considerations.

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Benefits of Offering Electronic Payments for HOA Fees

Jan 30, 2020 9:00:00 AM / by HOA Manager

Is your board constantly faced with residents who don’t pay their monthly HOA fees on time?

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What NOT to Do When Collecting HOA Fees

Oct 7, 2019 12:20:47 PM / by HOA Manager

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. 

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HOA Fees: A Clear Collection Policy is Essential for Your HOA Board

Jun 28, 2019 8:30:00 AM / by HOA Manager

Every HOA's number one priority is the legal fiduciary responsibility to enhance and maintain their property.  The only way to do that is by collecting HOA fees. That's why a clear collection policy is a must-have for your HOA board.

Sounds like fun, right? Maybe not. However, it's important to communicate a detailed collection plan for HOA fees. By managing homeowner expectations about fees and the need for timely payment, you can help your board (and especially your treasurer) meet their goals and reduce the need for costly fee collection.

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Tips to Keep Assessments from Increasing in the Homeowners Association

May 24, 2019 12:47:04 PM / by HOA Manager

Keeping assessments from constantly increasing in a homeowners association is one of the most important things an HOA board and its members can strive to do. The Association must balance keeping up with all its financial obligations and making sure fees stay as low as possible. Generally, these two feel like they work against each other. 

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When Misguided Attempts to Keep HOA Fees Low Affect the Reserve Fund

Aug 21, 2018 12:00:00 AM / by HOA Manager

The reserve fund of a homeowners association is often misunderstood by members and sometimes the HOA board as well. Some see it as a slush fund that is to be used on a "rainy day"' when the association gets low on cash in the operating account. Others, although they may understand the need to have some measure of reserve cash, do not make the connection that reserve funds are being reserved for the particular components within the community that the association is responsible for, such as roads, roofing, siding, fencing, painting, and equipment replacement.

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What Can an HOA Board Do if Owners Refuse to Pay Special Assessments?

Mar 21, 2018 9:00:00 AM / by HOA Manager

Homeowner associations are sometimes faced with special circumstances that arise even when they’ve done an excellent job of planning for replacement costs. Large-scale repairs, emergency situations,  or capital improvement projects may occur that put their reserves dangerously low. Special HOA assessments, in addition to monthly HOA fees, could then be the best option.

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Why Keeping HOA Fees Low is a Terrible Idea

Nov 17, 2017 11:40:44 AM / by HOA Manager

Working for one of the largest HOA management companies in Northern California I get a lot of phone calls from distressed HOA board members. I hear the same story emerging from these different homeowners association. It’s a sad pattern that is all too common. The story goes something like this:

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3 Common Homeowner Responses to an Increase in HOA Fees

Sep 22, 2017 1:00:00 PM / by HOA Manager

We all have heard the question time and time again, "Why do my HOA fees continue to increase?” Although it may not be news most homeowners want to hear, sometimes an increase in fees is the best way to keep the homeowners association in good financial health.

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