Late HOA payments are one of the most common problems homeowners associations face today. With assessments playing a critical role in the continuous operation of the HOA, it is imperative to know how to collect these late payments. How to Deal With Late HOA Payments It is not that difficult to understand how an…
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? Here’s Everything You Need to Know What is HOA fee? Also known as HOA dues or assessments, HOA fees are fees that homeowners associations collect from its…
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…
Prompt and reliable dissemination of information is a key element of successful HOA management. In order to accomplish this, you will need various HOA communication tools. HOA Communication Tools and How to Use Them One of the duties and responsibilities of your HOA board is to communicate with association members. From making announcements to…
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…
Perhaps the most important part of managing an association is the accounting and record keeping. Homeowners pay money for the privilege of living in an HOA community, and deserve to know that their investment is being handled with care. Community managers, therefore, need to have good processes in place to handle payments and access to…
The control of every development must eventually transfer from the developer to the members of the homeowners association. But, the HOA turnover process is not always easy and trouble-free. What Is an HOA Turnover? And Why Is It Necessary? An HOA turnover, also known as a community turnover, is exactly as it sounds. It…
With an interest in sustainability on the rise in our country, many HOAs are slowly implementing improvements that are good for the environment. There are many reasons to consider following sustainable trends. It can help attract homeowners with an interest in sustainability who care about their communities. It can also help your board to save…
One of the most valuable groups of homeowners that you can have in your community are senior citizens. These residents can be more long-term than younger demographics, and they can bring a surprising energy into the community that no other age group can offer. There are a lot of things that can be done…
There is more to finding rental tenants than simply posting an ad online. If you want to find and keep good tenants, you need to follow a system and understand certain laws. How to Find Quality Rental Tenants Rental property owners are always on the lookout for high-quality tenants. Ideally, all renters would be…