HOA Finances
HOA Special Assessments: When They’re Necessary and How to Communicate Them Without Losing Trust
Key Takeaways An HOA special assessment is a one-time charge to owners when the association needs money beyond its regular budget, usually for an unexpected or unbudgeted expense. Levying one properly means confirming your authority in the governing documents and state law, following whatever vote or notice period those require, and telling owners what the…
Read MoreWhat Is a Convenience Fee? Surcharges and Convenience Fees Explained
Key Takeaways It’s a fair question, and the answer depends on which charge you’re talking about. A convenience fee and a credit card surcharge are two different things with two different sets of rules, and they frequently get mixed up. Sorting them out is worth the time because the difference shapes how you answer homeowner…
Read MoreWhere Does My HOA Fee Go?: HOA Software Brings Financial Transparency to Your Community
Key Takeaways: When homeowners pay their dues, they want to believe their HOA has their best interests at heart. When it comes to finances, people grow suspicious at the slightest lack of transparency. Even if the board manages HOA finances responsibly, trust breaks down when residents can’t easily see where their dues go. If your…
Read MoreTop 10 Things to Avoid in HOA Financial Management
Key Takeaways: HOA Finances 101: Avoid These 10 Common Mistakes With some forethought and purposefulness, serving on your homeowners association board can be a positive experience, but the job does come with some definite fiduciary duties. Automating most of the tasks of HOA finances means more useful and accurate records, more convenient transactions and communications,…
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