hoa lien

What Is An HOA Lien? What Does It Mean?

It is important for homeowners associations to utilize collection actions when members default on their dues and assessments. This is where an HOA lien on the property comes in handy.   What Is an HOA Lien? Homeowners associations operate using a membership format. When someone buys a house in an HOA community, that person automatically…

hoa budget template

What Should An HOA Budget Template Have?

Every homeowners association relies on a carefully crafted budget for its yearly expenses. But, what does an HOA budget template look like? And what should it include?   What Is an HOA Budget Template? Why Is It Important? Homeowners associations operate on an annual budget usually prepared by the HOA board or the budget committee.…

hoa accounts payable report

HOA Accounts Payable Report: What Is This For?

The HOA accounts payable report is an important tool for measuring an association’s debts. Unfortunately, not all board members fully understand how it works.   What Is an HOA Accounts Payable Report? As with other organizations, a homeowners association operates with the help of a financial system. Homeowners pay monthly dues, which the association then…

hoa general ledger

HOA General Ledger: How Important Is It?

An HOA general ledger is a valuable tool for tracking and measuring your association’s finances. But, many HOAs simply don’t realize how important this financial report is.   What Is an HOA General Ledger? The general ledger is the prime repository of a homeowners association’s financial data. It serves as the association’s ongoing record of…

What Is An HOA Cash Flow Statement?

Every homeowners association deals with money. Without proper controls and reporting, though, it can be easy to lose track of the association’s cash. This is where an HOA cash flow statement comes in.   What Is an HOA Cash Flow Statement? A cash flow statement is a financial report that depicts the amount of cash and…