You know the drill. Every year, Boards of HOAs, condominium associations, cooperatives, and other common interest communities review their previous year’s budget and make their best guess at what the upcoming year will bring. For better or for worse, the decisions made at budget time impact the association’s operations throughout the upcoming year. Set aside…
If you have ever been faced with the decision on whether or not to foreclose on a home or unit based on the home or unit owner’s default on making payments to the association as required by the association’s governance document, you know it can be challenging to say the least. Using your “gut feel”…
If your Homeowner or Condo Association wants a public website with features like reserving amenities ComWeb’s Website is an interesting option. The website will integrate with both our Tops One and Caliber software systems. ComWeb also offers Web Master services to help associations make updates to the website as well./ If you are interested to…
Condominium associations and HOAs often amass sizeable amounts of cash in their Reserve Funds. The Board is charged with safeguarding those assets and investing only in conservative vehicles. The Certificate of Deposit, better known as a CD, has long been the instrument of choice for investing association funds. The interest on the money is desirable…
If you missed it we had an information-packed webinar on Fiscal Responsibility and Best Practices a few weeks ago on May 12, 2021. We received a lot of great questions from the audience that I wanted to share with you as I thought would help answer your questions that may be similar. Q: Is “owner equity”…
The most commonly known types of community associations are Homeowner’s Associations (HOAs) and Condominium Owners Associations (COAs). But those major classifications are only the tip of the iceberg when it comes to other names and types of associations. Community Financials offers financial management for many other types of common associations. Here are a few more…
Embezzlement. Payroll. Accounts Payable. Delinquencies. Operating vs Reserves. These just a few of the financial challenges boards and managers face twelve times a year. It is so simple to say “assessments should offset expenses” in running a community association. But we all know that reality is much more complicated than theory, especially here in 2021…
When associations talk about making good financial investments, they are often referring to the best rate they can get on CD or other banking products. Community Financials thinks a far more important financial investment a community can make is in itself and its own financial management. Like all good investments, there are significant returns. These…
The greater number of ways an owner can pay your community dues the better. More and more communities are working with a financial /property management company to provide online payments in addition to payment by check. When it comes to online payments there are a few choices. For HOA and Condo Online Payment Options: What…
Russell Munz, Founder
Certified Manager of Community Associations (CMCA)
Expert Financial Oversight
Experience the difference with our professional financial services designed specifically for HOAs and condo associations. Simplify your finances with our expert support.
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