HOAleader.com provides practical advice on homeowner and condominium association management, laws, rules, insurance, finances, reserves, dues, liens, assessments, dispute resolution, and more.HOAleader.com provides practical advice on homeowner and condominium association management, laws, rules, insurance, finances, reserves, dues, liens, assessments, dispute resolution, and more.
HomeBrowse by TopicDiscussion ForumTell a FriendSearchMember Log-in
Sign up for the FREE
HOAleader.com
Tip of the Week
 Search
 Interact
Free Newsletter
Discussion Forum
Follow on Twitter
 RSS Feed
 Browse
New Headlines
Topics
Most Popular
Special Reports
Vendor Directory
Contributors
 Membership
Join HOAleader.com
Members-Only Home
Group Discounts
Renew Membership
 FAQ
About HOAleader.com
Affiliates
HOA Vendors
Help
Our Guarantee
Text Size
Contact Us
Your Privacy

Add to Google Reader or Homepage
Published by Plain-English Media, LLC
Home | Financial Matters

HOA Financial Matters

Subtopics: Budgets, Dues, Special Assessments, Financial Controls, Insurance, Reserve Accounts

Back to main Topics page


HOA President Gambles HOA Funds--and Refuses to Resign. Now What?
May 17, 2013
In this week's tip, we discuss whether all should be forgiven if a board member improperly uses HOA funds (to gamble, no less!) and then pays them back. The first issue is the proper process for removal of directors. States vary, but Florida provides guidance. . . . keep reading
Should This HOA President Resign?
May 2013
In response to a reader's question, we ask our experts if they can imagine a circumstance in which a board member who withdrew HOA funds for personal use shouldn't resign, even if the funds were paid back. Also, under what circumstances would the HOA have its lawyer defend the president in a recall petition? . . . keep reading
Should Your HOA Delay -- Not Ban -- Rentals?
May 2013
Some condo and homeowners associations forbid rentals altogether, but others are taking a different tack--banning rentals for a period of time, say one or two years. What are the pros and cons of a short-term, instead of an outright, ban? Here's the scoop. . . . keep reading
6 Ways Boards are Improving Their HOA's Operations
May 2013
Need ideas to help your condo or homeowner association run more smoothly? Here, board members from associations across the country and experts who advise them share six of the best practices they've recently implemented to streamline operations. . . . keep reading
Are Illinois Courts a Danger to Its State's HOAs and Others?
April 19, 2013
In this week's tip, we head backto Illinois to discuss yet another questionable Illinois court ruling that could have implications for HOAs far and wide. (See last month's article on another questionable Illinois court ruling.) . . . keep reading
Illinois Court Rules Owner Can Shirk HOA Assessments
April 2013
Last month, we discussed the wisdom of an Illinois Supreme Court case,Poris v. Lake Holiday Property Owners Association, allowing HOA security officials to stop and write tickets to speeding home owners. (See last month's article.) In what we hope doesn't become a regular series, we'll now discuss another controversial Illinois court case. . . . keep reading
Smart HOAs Get Tenants on Their Side
March 8, 2013
In this week's tip, we provide insight on why and how to get tenants involved in your community.Not sold on the idea of getting tenants involved in your community? It's more important than you think. . . . keep reading
Getting Tenants Invested in Your HOA
March 2013
Experts are advising that HOAs work to get tenants more invested in their community. Why is that wise, and how can you achieve that goal?We answer both questions below. . . . keep reading
Manager's Surprise: Your HOA Has an $18,000 Bill! Who Pays?
March 1, 2013
In this week's tip, we answer a reader's question about who has to pay a surprise $18,000 bill for a vender hired by the management company to clean up after interior water damage. The board assumed the association's insurer would cover it, but the claim was denied. Now the management company wants the board to pay up. . . . keep reading
Who Pays an Unauthorized $18,000 Bill? Discussion Forum Follow-up
March 2013
An HOAleader.com reader asks, "I am on the board of a small association of detached condominiums. Almost two years ago, a unit that was in escrow after the tenant died suffered interior water damage. The management company hired a contractor to do mold remediation and repair structural damage without consulting the board. . . . keep reading
Tips for a Manager: How Do I Get Banks to Pay Up?
February 8, 2013
In this week's tip, we help an HOAleader.com reader improve collections on bank-owned properties at the California association he manages. The simple answer: treat banks as you'd treat any other owner. . . . keep reading
Collecting HOA Assessments from Banks: Discussion Forum Follow-up
February 2013
An HOAleader.com reader asks, "I'm a manager for an HOA located in Northern California. The issue this and many other HOAs face these days are delinquent assessment collections from bank-owned units. For example, there have been several units sold at auctions and transferred to new owners, and the banks have escaped paying HOA dues during the period the bank owned the property. Or the bank never takes 'possession' of the property, but places signs on the property stating 'the XYZ bank is protecting its asset, do not enter.' The home assessments are severely delinquent, yet the bank states that it's not the owner and not responsible for paying the assessments. Have you heard of any options an HOA has on forcing the banks to pay delinquencies?" . . . keep reading
New HOA Assessment-Comparison Tool: Cool! But Proceed with Caution
January 25, 2013
In this week's tip, we reveal a new tool to help you and potential buyers compare your HOA's assessment levels with those of nearby associations. At the same time, we advise caution. . . . keep reading
How Do Your HOA's Assessments Stack Up?
January 2013
In Miami, the average monthly assessment at the 500-plus associations Ben Solomon advises is $250-$450, reports the attorney and founder of the Association Law Group in Miami Beach, Fla., who advises more than 500 associations and also represents developers through his second law firm, Solomon & Furshman LLP. The highest among Solomon's clients is $2,800 per month for an oceanfront condo in Bal Harbor. . . . keep reading
Keep an Eye on These Trends for 2013
January 20, 2013
In this week's tip, we give you a taste of the trends our experts are seeing at their associations--and that you need to be on top of for 2013. . . . keep reading
Six HOA Trends to Watch in 2013
January 2013
The best board members know not only what's going on in their own HOA, but they also have a finger on the pulse of the broader HOA world. Here, our experts reveal six trends they're seeing at the associations they work with. . . . keep reading
More HeadlinesMore Headlines
 Free White Papers

 
HOA Finances:
Best Practices for Getting Your Homeowners Association through Difficult Economic Times

Download now »

Advertising Information
 Topics
Communications
Dispute Resolution
Facilities & Maintenance
Financial Matters
HOA Elections
HOA Governance
HOA Insurance
HOA Reserves
HOA Rules
Human Resources
Legal Compliance
Security & Safety
HOA Glossary
Complete Topic List

 Discussion Forum
Recent Forum Posts
· HOA BOD
· Annual vote for directors and officers
· Help writing HOA rules -are there any samples?
· questions about someone forging your name
· inconsistent, unequal enforcement of rules & r
· public budget vote; changes behind closed doors
· Developer goes bankrupt unbuilt units foreclosed
· HOA laws, Davis-Stirling Enforcement?
· Maintenance priority for homes going on the market
· SURPLUS MONEY
· Recall one director
· Recall one director
· Bylaws require owners First Lienor information
· Legal Committee's authority
· draft board documents
Search Discussion

 TESTIMONIALS

Here's what our readers
are saying ...

 

"Your news and ideas have been a Godsend and so helpful, you can't imagine... Thanks for everything."

Saundra Ragona
Quail Ridge Owners' Association



"We really appreciate your publication. It's as if you had a spy at our meetings and over hear our gripes :). Keep up the good work."

Cynthia Ramnarace
Palmer's Landing HOA



"This is a great service."

Mark R. Benson
CAM, CMCA, AMS, PCAM
Past Chairman of the Florida Community Association Living Study Council
Past Member of the Regulatory Council of Community Association Managers
Past Vice-Chairman of the Advisory Council on Condominiums County Court Mediator



"I am a newly elect President of a small (10 units) HOA / Condo, and I am learning the business almost from scratch ... Thanks for your very valuable information."

Volodymyr (Vlad) Boryshpolov
1102 Avenue X HOA



"Thanks for all your great HOA tips! I am a new Board Secretary—your site is truly worth signing up for!"

Kathie Norris
Whispering Pines West HOA