If you are on the board of directors of a homeowners association, you will want to make sure that all the neighbors pay their fair share in a timely manner. Doing so will prevent you from facing a financial crisis … Continue reading
Ever since the mortgage crisis and its accompanying spike in assessment delinquencies, policy makers have been working to address the question of who should pay the cost of collecting past due assessments. Surprisingly, in many states that answer is….. you. … Continue reading
A down economy is no fun. Not for you, not for your neighbor, and certainly not for your Homeowners Association. Homeowner delinquencies and HOA operating costs are both on the rise, creating a perfect storm for collecting assessments. We’ve put together … Continue reading
Board members have the fiduciary responsibility not only to monitor the income and expenses of their association but also to utilize processes that provide both safety for assessments collected from homeowners and control of costs. If your community association or … Continue reading
There are many important characteristics of a successful community association. However, the cornerstone of an association is its financial position and accounting practices. This is why it is so important for board members to understand basic accounting vocabulary.
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