It is common for homeowners associations to use monetary penalties as a way to enforce the rules. But can the board increase HOA fines? What Is the Purpose of HOA Fines? Part of living in a community managed by a homeowners association is following its rules and regulations. Communities have these rules in place…
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Some boards believe that creating strong HOA vendor relationships should sit low on the priority scale. Yet vendors largely contribute to a community’s success. Ensuring a healthy working relationship can make a huge difference in pricing, response times, and quality of service. The Importance of Building Positive HOA Vendor Relationships Homeowners associations rely on…
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In any planned community, HOA procurement plays an essential role in maintaining operations. Associations rely on vendors for various goods and services. Without a solid procurement policy in place, inconsistencies and financial gaps can easily take over. What is an HOA Procurement Policy? An HOA procurement policy consists of the standards and procedures that…
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An HOA finance committee can be a valuable crutch for any association board. This committee assists the board in managing the community’s finances, including budgeting, expense tracking, and preparing key reports. Understanding the roles and responsibilities of this committee can help associations decide their next steps. What is an HOA Finance Committee? Also known…
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It is normal for any association board to want to improve HOA finances. After all, money is the lifeblood of a community, and poor finances can have a negative domino effect. While boards can attempt to improve finances on their own, the more prudent course is to hire professionals. Why Associations Should Improve HOA…
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Are work trucks in HOA communities allowed? The answer depends on state laws and the governing documents. Work trucks can negatively impact a community’s appeal and property values, leading many HOAs to ban them altogether. But boards must remember the limits to their authority. The Problem With Work Trucks in HOA Communities The presence…
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Every now and again, board members will encounter the threat of HOA lawsuits. When that happens, it is imperative to know how to proceed. Better yet, boards should take the necessary steps to prevent liability exposure in the first place. This will help keep the HOA in the clear and financially stable. What are…
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When faced with a budget deficit or a significant need for funding, board members must consider whether to turn to a special assessment or an HOA loan. Both options have their pros and cons, and boards must weigh them against the association’s needs and capabilities before making a decision. Special Assessment or HOA Loan:…
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Associations constantly look for ways to reduce HOA legal costs to keep regular dues manageable, but simply slashing the budget can result in long-term problems. Board members must take concrete steps to prevent the need for legal support, often requiring direct involvement and a proactive approach. How to Reduce HOA Legal Costs Homeowners associations…
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One of the perks of living in a homeowners association is having access to pools, and with that comes HOA pool rules. These rules not only regulate the behavior of swimmers and guests, but they also establish what the board must do before the pool season begins. Most Important HOA Pool Rules to Enforce…
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