As Florida HOAs age, so does their infrastructure. To that end, HOAs need to have a plan for how they will address both ongoing maintenance needs as well as larger infrastructure improvements. This is not only because budget planning for aging infrastructure is a best...
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...
Budgets for homeowner’s associations (HOA) should be updated regularly, typically on an annual basis. A well-planned homeowner’s association budget can help you forecast the cost of maintaining common areas of the neighborhood as well as cover...
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...
Your condo association has this stash of money set aside called the reserves. You and many other members think that money should go toward a new paint color in the fitness center. That old pea green just isn’t doing it for you. You should be able to use those reserve...
