Are you on the HOA community board, ready to champion the cause of maintaining reserve funds? It’s a noble task, but let’s be honest—it’s no walk in the park. It takes commitment and a set of best practices to guarantee the long-term sustainability of your HOA reserve funds, especially when the unexpected comes knocking.  Join […]

A competent financial committee can be instrumental in providing clear financial oversight to a board of directors.

When it comes to condo finances, the fewer mistakes you make, the better. Read about these money mistakes now to avoid making them later on.

When you think of an HOA as a business or small town, it becomes easier to understand how many expenses are associated with maintaining it.

Condos/HOAs are encouraged to do a reserve study every 3-5 years so the reserve budget reflects the community’s current financial situation.

Communication and planning will be critical in order to confidently lead your corporation or association through inflation in 2023.

Managing AP is a lot of work. But it doesn’t have to be so cumbersome. If you feel like you’re drowning in AP paperwork, get rid of the paper!

In order to ensure money is used responsibly, associations create and follow purchasing policies to guide boards, managers, and other staff.

Balance sheets use information from the general ledger to show how much money the association is bringing in and how much is going out.

Good or bad, board members need to know what their numbers look like so they can plan for the year ahead and make necessary adjustments.    

A treasurer’s report captures an HOA’s expenses and revenue for a certain time period. Reports may be presented monthly, or less frequently.

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.

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

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