The subject of HOA taxes can be a source of frustration for many homeowners associations. But, do HOAs have to pay federal and state income taxes at all? HOA Taxes: Understanding Federal and State Requirements A majority of homeowners associations are incorporated as nonprofits in their state. But, just because an HOA is organized…
It is not uncommon for homeowners to have to pay HOA fines when they have committed a violation of the rules. Many homeowners, though, have unanswered questions about fines in an HOA community. Frequently Asked Questions on HOA Fines Here are the answers to the most frequently asked questions about homeowners association fines. What…
Can you wear white after Labor Day? This is an age-old question that many people don’t know the origin of. Why Can’t You Wear White After Labor Day? You’ve probably heard of the famous saying, “You can’t wear white after Labor Day.” And while a lot of people have generally accepted this as sound…
Condominium repairs are an inevitable part of condo ownership. But, not all elements of a condo unit fall under the responsibility of the owner. Sometimes, the condo association is on the hook for maintenance and repairs. Who Is Responsible for Condominium Repairs? Purchasing a condo usually comes with automatic membership into a condo association.…
Can a homeowner be an HOA manager without the association running into problems? While it may seem like an easy job, an HOA manager juggles several different responsibilities. And not all associations want the potential conflict of interest that may arise from a homeowner-slash-manager. Can a Homeowner Be an HOA Manager? Homeowners associations come…
Homeowners associations in many states will have to go through covenant revitalization at one point or another. It is important for board members to familiarize themselves with this process to avoid lapses in authority. Covenant Revitalization: Do HOA Covenants Expire? An HOA covenant is essentially a contract or agreement that homeowners associations enter into…
In a lot of ways, homeowners associations are just like corporations. They operate with a budget, are headed by a set of board members, and manage a reserve fund. But, what are HOA reserve funds anyway? What Are HOA Reserve Funds? Simply put, a reserve fund is a savings account. It contains funds that…
One of the best ways to spend time with friends and family is over a good meal. Independence Day is no different, with Americans gathering across the country to break bread together. For inspiration, here are some of the most delicious 4th of July recipes you can try. The Best 4th of July Recipes to…
Security is a primary concern for many homeowners associations. But, is hiring HOA security guards or companies even worth the investment? Top Reasons to Hire HOA Security Guards One of the chief considerations many homebuyers make before purchasing a home is security, especially if the home is located within a community association or subdivision. Even…
An HOA property manager fulfills several important responsibilities that are essential to the smooth operation of a community. Whether you’re thinking of hiring a manager or becoming one, make sure to familiarize yourself with these duties ahead of time. The Importance of an HOA Property Manager Managing a homeowners association, especially larger ones, can…