The recent surge in HOA insurance premiums didn’t go unnoticed. In fact, many associations are scrambling to adjust their budgets to accommodate the additional cost. Insurance has a significant financial impact on HOAs and homeowners, and understanding the...
An HOA’s monthly financial packet keeps members up to date on what’s happening in their community. This packet includes crucial reports, which detail all the financial information owners need. But is the board obligated to provide this packet in the first...
An HOA auditor plays a critical role in protecting the financial health of a community association. Boards rely on accurate financial reporting to make sound decisions, maintain reserves, and earn the trust of homeowners. Choosing the right professional is integral,...
Every HOA board needs to understand the HOA budget. This is an important financial tool that helps the board manage the association’s money over the next year. Moreover, it helps promote transparency by keeping homeowners in the loop. Without a clear budget,...
Capital lending for cooperatives plays a key role in ensuring the stability and financial health of co-ops. Many cooperatives in DC are older, which means they need more attention and maintenance. Some even require refinancing. A capital loan can help these...
Understanding HOA financial statements is essential for any well-run community. These documents show where the money is coming from, where it’s going, and whether the association is financially healthy. Understanding HOA Financial Statements Every homeowners...
