An HOA or condo association budget is primarily made up of two sections; an operating section and a reserve section as required by law.

An HOA statement is a document that details the outstanding charges that an owner must pay. Download our HOA statement template.

This article will cover how a board or property manager can address the issue of delinquent fees in a fair and productive manner.

If you’re thinking about moving into an HOA, make sure to budget HOA fees or dues into your recurring expenses.

There are many benefits and conveniences to using electronic payments for condo fees and HOA dues.

In this article, we look at how sale prices and down payments for condos vary depending on where you live.

While HOAs do not operate with the intention of profiting, they must make smart financial choices in order to succeed.

A budget based on factual data can help maintain an HOA community’s health and happiness for years to come.

Not only do late dues impact the community’s ability to make its payments on time, but your financial health could take a hit, too.

The latest data for February 2021 shows that the percentage of homeowners who have paid association dues on time is back up to 92%.

Besides making monthly mortgage payments, condo owners must pay condo fees as well.  This amount covers maintenance costs for common areas in the condo building and it contributes to a rainy day fund. Sounds fair enough, right? Problem is, there’s no benchmark to how much condo fees should cost. In some places, it’s $50 while others […]

When an owner doesn’t pay their dues, the entire HOA has to deal with the consequences. Fees from owners are factored into an association’s budget, and when owners fall behind on payments, the HOA can’t cover all of its expenses. In very rare cases, homes have had to be foreclosed because owners could not meet […]

To manage a strata well, you need efficient processes and procedures in place. There are meetings to prepare for, fees to collect and maintenance issues to fix. And who could forget about all of that paperwork! These recurring tasks can easily take up much of your valuable time, especially if you start from scratch each […]

HOAs cannot operate without revenue. It’s as simple as that. Good accounting is critical to the health and happiness of every HOA development. Managing a multi-million dollar budget is not so simple, however, especially if none of your board members have an accounting background. Accounting can be quite stressful for anyone to navigate, and it’s […]

covid-19 resources Request a Demo Good accounting is an important pillar of a happy and healthy condo community. Condos need money to operate. It’s as simple as that. But managing a multi-million dollar budget is not so simple. With multiple revenue sources, short-term and long-term projects, bills, contractors, and more, taking care of a condo’s […]