What is capital improvement? How is it different from maintenance and repairs? These are two very common questions asked by homeowners. To understand where part of your monthly association dues goes, here’s what you need to know about capital improvements. What Are Capital Improvements? Capital Improvement Definition. A capital improvement is a structural addition or…
HOA special assessments are a polarizing topic in a homeowners association, one that can put the HOA board and community members at odds. But, can an HOA even charge special assessments to homeowners? What are these HOA assessments for anyway? The Ins and Outs of HOA Special Assessments To any veteran of an HOA…
The Treasurer of an HOA has one of the most important jobs on the HOA board of directors. It is important for HOA board members to consider carefully who they will be recommending for their treasurer position given that the role will determine the liquidity of the HOA and how it makes its most important…
Every homeowners association should have a comprehensive insurance policy for unexpected troubles. Unfortunately, not all HOA boards are familiar with HOA community insurance. What to Consider When Getting HOA Community Insurance One of the challenges HOA boards must manage is what kind of insurance that their association has. It is essential to maintain coverage…
Much like a business, a functioning community incurs costs and earns revenue. As such, it’s important to set up HOA accounting standards to maintain accurate financial reporting. Now, accounting can be quite stressful for community managers to navigate. With so much money going in and out, sometimes on a daily basis, it can be a…
How much do you know about homeowners insurance services? Most HOA board members understand that they need insurance, but many do not know the specifics of insurance. You may have many questions about insurance. What type of insurance does the HOA need? How extensive should the coverage be? How do you get HOA insurance? In…