It is important for any homeowners association to have HOA reserve funds and to understand the purpose of this separate account. In doing so, an HOA can avoid financial ruin and minimize the need for special assessments. What Are HOA Reserve Funds? Reserve funds, also known as reserve accounts or HOA cash reserves, are…
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Many homeowners know that homeowners associations can place a lien on your property. But, did you also know that some associations, depending on the state, can place an HOA super lien instead? What Is an HOA Super Lien? Simply put, an HOA super lien is a type of lien that takes a higher priority…
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Behind every homeowners association is a set of board members, collectively known as the HOA board, running it. These board members are elected into position by the association’s members. With every board election, though, comes HOA candidate nomination. Determining the HOA Candidate Nomination Procedure It is important to know that every homeowners association may have…
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What is an assessment fee? Contrary to popular belief, HOA assessments are not exactly the same as HOA dues. It is essential to learn the difference between the two, especially if you are considering moving into an HOA community. Separating HOA Assessments from HOA Fees Before moving into any community governed by a homeowners…
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Do you need help managing your condo or homeowners association? If you’re not ready to hire a professional management company, why not consider HOA software instead? To help you make this decision, here’s everything you need to know about HOA management software. What Is HOA Software? HOA software is an industry-specific computer program that…
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Homeowner association websites are no longer a nice-to-have, bonus feature. In this digital age, it’s a must-have for any HOA community. If your association has yet to take the plunge, here’s why you need an HOA website — as well as how to design one that works for your community. Why Do You Need…
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Collecting homeowners association payments is a very time-consuming process. Each month, the HOA has to issue invoices, collect fees, process checks, and then deposit them to the bank. If you want more efficient operations, here’s how HOA online payments can help your association. 7 Great Benefits of HOA Online Payments HOA fees are the…
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