Now and then, a homeowners association will run into financial trouble and require an immediate solution. In addition to special assessments, most boards turn to an HOA loan. But is a loan even advisable? What Is an HOA Loan? An HOA loan is simply a sum of cash that a homeowners association borrows from…
The HOA budget meeting is an important event in any homeowners association. Make sure all goes well with yours by adopting these tips for planning and presenting your annual budget. How to Prepare for Your Annual HOA Budget Meeting Budget planning is an essential part of managing a homeowners association. It sets the ground…
The homeowners association budget is a major responsibility for the board. Creating an accurate and well-thought-out budget ensures the financial health of your community — not just for the next fiscal year, but for many years to come. For new board members who are not yet familiar with this process, here are HOA budget guidelines…