For condo associations, reserve funding is required by law. Although there can be some wiggle room and even a potential to hold a majority vote to do away with reserve funds, this is rarely a good decision. Reserve funds are a vital component to a condo association’s...
HOA covenants form the rules and regulations of a community association that must be adhered to by members and the BOD. They are referred to as the community’s Declaration of Covenants, Conditions, & Restrictions, or CC&Rs. When you purchase a home in a...
Saving for a rainy day. It’s what our parents and grandparents always taught us. For HOAs those “rainy day” savings are not just about having a nest egg for some distant future, they’re critical to the operation and proper management of any community organization....
There are signs and whispers around your community that all is not well in your HOA. Your next door neighbor is saying she heard from one of the board members that the reserve fund is almost gone. You notice that the pool has been closed for several months with no...
For many of us, our home is our most valuable asset and our biggest investment. We place a large financial importance on our home, as well as an emotional attachment, after all home is where the heart is. When deciding whether or not to live in an HOA, there are a...
Running a strong board for an HOA, condo association or other community association can be tough work. There are so many logistics, safety concerns and opinions to consider. You have to manage the budget, keep the peace between neighbors, consider long-term projects,...
