Homeowners’ association (HOA) boards need to be smart with money to keep their community running smoothly. However, there are instances when HOAs don’t have enough capital in their accounts for large-scale projects or unexpected expenses. In this case, board members can take out HOA loans to fund these projects. HOA loans are a major undertaking…
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Crime is an important concern and a risk in any homeowners association. Incorporating certain trusted systems, such as an HOA neighborhood watch, can ensure that your community stays collectively alert and focused on safety. After all, nobody wants to live in a community where danger is lurking around the corners. Here is why you should…
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An increase in fees is a common complaint homeowners levy against HOAs. While it’s alright to complain if the increase isn’t justified, many homeowners association raise the fees to accommodate certain community needs. Let’s face it — no one likes having to pay more. But sometimes, larger fees are necessary, and here’s why. Can…
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Glossophobia, also known as the fear of public speaking, is something that many people experience. If you’re part of the homeowners association (HOA) board — where the ability to communicate is crucial to fulfilling your duties — it can be scary and intimidating to overcome this fear. Keep in mind that public speaking is a…
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What are HOA assessments, and why do homeowners have to pay for them? That’s a question that crosses the minds of some homeowners, given they are already contributing to community management in the form of regular monthly HOA fees. Most homeowners do understand to an extent that homeowners association assessments, on top of HOA dues,…
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For an HOA board with a lot of questions, hiring a property management company can be a great way to iron out any issues or uncertainties. Sometimes, though, board members want to do their own research and educate themselves further on running an HOA. For these instances, there are some great online resources for HOA…
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What is an architectural review committee or ARC? It’s the HOA body that enforces the architectural community standards in your neighborhoods and developments, to keep them uniform and visually standardized to a reasonable extent. A resident that wants to make a change or addition to their property may need to secure approval from an HOA…
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Many states require an HOA board to set aside comment time for each member to speak during open meetings, including North Carolina. While this a great feature to have in your HOA because it gives each member a voice and opinion about the community they live in, you’ll also want to have an understanding of…
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Homeowners associations (HOA) have many responsibilities when it comes to protecting the assets of the community. Using the best accounting method for HOAs comes along with that engagement. Before putting any of that into practice, however, you must first understand the three methods of HOA accounting and then learn about the best accounting method for…
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At a glance, it can be hard to tell whether an HOA community is being run well. Sure, everything looks good on the outside — the sidewalks are clean, amenities are well-maintained, and the landscaping is beautiful. But, looks can be deceiving, especially if they are outward appearances. From an insider’s perspective, things could be…
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