The announcement of the new Fannie Mae condo reserve requirements has many associations scrambling to comply. While noncompliance does not carry legal penalties, it can significantly impact an association’s marketability and financing. Understanding these new...
An HOA reserve study is a valuable financial tool for any planned community. It allows board members to gauge the estimated remaining useful life of the association’s assets and the cost to replace them. From there, the HOA can calculate the annual contributions...
In an HOA, a treasurer’s report gives the board and homeowners a snapshot of the association’s financial condition. It helps explain how much money the HOA has, how funds are spent, and whether the community is staying on budget. With a clear and organized...
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,...
