Break the Cycle of your HOA or Condo Going Self-Managed to Full-Managed and Back Again

Do you notice at your HOA or Condo Community, or a neighboring property, where they seem to switch from full management to self-management and back again?  Why does this happen, what are the costs of this change, and how can it be stopped?  How do you break the cycle of your HOA or Condo going self-managed to full-managed and back again? A former owner of a large management company and reserve study company as well as the former CAI Connecticut Chapter President Walt Williamsen has seen many trends during his decades in the HOA and Condo Management Industry.    One trend he has spotted is a pattern where boards vacillate between… Read More

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HOA 101: Rules & Regulations

For many people, homeowners’ associations (HOAs) have become synonymous with rules. While it’s true that part of association membership requires abiding by community guidelines, HOA life is about far more than following a long list of rules. Community guidelines and rules can help lay the foundation for a successful neighborhood, and as community association experts, we’re here to help answer the who, what, and why of HOA rules. What are HOA rules and regulations? When you purchase a home that’s part of a community association, you automatically become a member of the association and become responsible for following all its rules and regulations. The primary purpose of having community rules and standards… Read More

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FHA Approval Can Raise Property Values…Don’t let Condo Delinquencies Stand in the Way

FHA Approval Can Raise Property Values…Don’t let Condo Delinquencies Hurt

Despite all the lovely roads and fire trucks we encounter every day, people still like to complain that their taxes aren’t being put to good use. It would seem they’ve never heard of an FHA loan. These aren’t mortgages issued by the Federal Housing Authority, rather ones insured by them. This insurance enables the lender to offer terms with significantly reduced down-payments, sometimes as low as 3.5% of the purchase price. And while the program explicitly exists to aid home buyers and not investors, it can still provide a significant boost to property values.  FHA approval is critical so don’t let condo delinquencies hurt you. If a building has FHA approval, the… Read More

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Tick-Tock: Exploring Your HOA Meeting Minutes

Over the past 40 years, Associa community managers have attended countless board meetings and reviewed many homeowner’s association (HOA) meeting minutes. In this blog, we explore what HOA meeting minutes are, their purpose, and best practices for taking and keeping good HOA minutes.   What are HOA meeting minutes? HOA meeting minutes are an official record of the actions taken by board members at a board meeting. Meeting minutes should be brief, objective, and reflect the actions taken at a meeting–not a complete transcript of what was said and opinions that were expressed.     What should be included in the HOA meeting minutes? If the board secretary isn’t taking minutes, he… Read More

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Keep an eye on your condo and HOA ledgers

Are your Community Association Ledgers accurate?

Are your community association ledgers accurate and are they being kept properly? Are they in good enough order that you would sit in a courtroom and swear under oath that they are accurate? If you have any doubt here are a few pointers that may help keep your ledgers in good order. WHAT YOU NEED TO ENSURE YOUR UNIT LEDGERS ARE IN ORDER As with anything you deal with in a community association the first thing you must do is read the governing documents and answer the following questions: What is your pay period (monthly, quarterly, annual)? What day are your assessments due? What is the grace period allowed in your… Read More

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How Does Transitioning HOA or Condo Community Accounting Work?

Some Boards are hesitant to change accounting mid fiscal year.  The fear may be that the accounting for the fiscal year end will be convoluted or inaccurate and can interfere with a year-end audit or tax filing.  Or the fear may be that it is a lot of work.  You don’t have to fear the mid-year accounting change.  To help explain I will answer the question: how does transitioning HOA or Condo Community accounting work? A “transition” is the process when a community switches from one way of doing business to another.  This can be switching from a self-managed board volunteer doing the accounting work or a community changing from… Read More

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The Indecisive Board

We’ve all been there. Wading through hours of Board meetings where decisions that need to be made just don’t get made. Important and often surprisingly unimportant items tabled for weeks, months… Sometimes years! Pretty soon the Old Business section of the agenda has a drop-down menu of 25! Ugh! Why is that? And what can we do to help our Boards along in making decisions? I’ve put together some standard causes of Board paralysis and how we can (maybe) help them move through it for their and the community’s sake. The major roadblocks to action Lack of leadership. Probably our biggest issue, a lack of leadership within a Board results… Read More

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