concept image of buying home | hoa fees

Your Ultimate Guide to HOA Fees

HOA fees — they are a staple in any given homeowners association. But, what are they exactly? And what purpose do they serve?   What Are HOA Fees? What is an HOA fee? Also known as HOA dues, HOA fees are fees that homeowners associations collect from its members, i.e. homeowners. When homeowners purchase a…

Woman Asking Question At Neighborhood Meeting In Community Center | hoa board meetings

HOA Board Meetings: Types, Planning, And Purpose

Homeowners association board meetings are where important decisions are made. There are different types of HOA meetings depending on the purpose or matter at hand. For efficient and productive HOA board meetings, here’s what you need to know.   What Are the Different Types of HOA Board Meetings? Not all HOA board meetings are the…

| hoa management fee

HOA Management Fee: Are They Charging You Right?

Part of hiring an HOA property management company is paying a set fee in exchange for services to the association. But, how can you separate the reasonable fees from the questionable ones? The key is to understand how an HOA management fee works.   What Is an HOA Management Fee? Homeowners associations don’t run on…

HOA financial statements | hoa accrual accounting

HOA Accrual Accounting: Why It’s The Best For HOAs

Homeowners association accounting is a critical part of managing any HOA community. The key to successful accounting, though, starts at the beginning — choosing your accounting method. Among the three possible options, HOA accrual accounting remains unsurpassed.   What Is HOA Accrual Accounting? The accrual basis of accounting dictates that you should record revenues and…

homeowner's association tax | form 1120-H for HOAs

What You Need to Know About Form 1120-H

Are HOAs required to file tax returns? Even though they are non-profit organizations, all HOAs must still file their income tax return each year. To better understand the requirement, here’s everything you need to know about the homeowners association tax form, also known as Form 1120-H for HOAs.   What Is Form 1120-H for HOAs?…

hoa financial reporting mistakes

4 HOA Financial Reporting Mistakes To Look Out For

Do you have problems with homeowners association financial reporting? Even with a financially literate board, mistakes can still happen. What’s important is that you’re able to identify these HOA financial reporting mistakes early on and make changes so that they never happen again. If you want to protect the financial position of your HOA, here’s…