First, do not panic. Having a discrepancy between the estimated expenses and the actual expenditures is not an unusual situation for an association board to find itself in. This can be caused by a lack of planning – something to be addressed at the next annual meeting...
Florida statutes do not prevent association boards from taking action without a formal meeting. However, that doesn’t mean your association has the ability to do so under its own bylaws. Why would a board want to act without meeting? Making arrangements for a special...
Yes. Next question. Just kidding! Of course, there’s more to say about this! The most common reason associations hesitate to retain an attorney is concern related to the cost. It is always wise for board members to be budget-conscious. However, figuring your...
A special assessment is a charge imposed by an HOA on its members for a specific purpose, such as capital improvements or repairs and maintenance. Special assessments are typically levied in addition to the regular monthly or annual assessment. Special assessments are...
Anytime maintenance is deferred, it improves a Condo Association’s cash flow in the immediate term. There are times when this is extremely valuable and necessary, but it does not eliminate the required maintenance from happening sometime in the near future. Often,...
To function well, an HOA must be comprised of a board of directors who are authorized to act on a community’s behalf and enforce community guidelines. Typically, a board of directors is comprised of a president, vice president, secretary, and treasurer – each...
