As the stay-at-home orders and business shut downs rock the nation’s economy and workers the impacts will increasingly be felt by community associations. This post is about how to handle assessment collection at your Homeowner Association (HOA) or Condo Community during the Coronavirus crisis. Last week (ending April 10th) we saw another record six million…
We wanted to share this information from Community Associations Institute (CAI) on suspending foreclosure actions against delinquent owners. Community Association Institute suggests a moratorium on foreclosure activity for HOAs and Condos for COVID-19 until June 1 that are specifically related to COVID-19 hardships. The following statement also outlines what proof or documentation associations should look…
Embezzlement. Payroll. Accounts Payable. Delinquencies. Operating vs Reserves. These are 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…
We want to keep sharing useful links and news stories for boards of HOAs and Condo communities to help them manage through the outbreak. Some are shared by Community Associations Institute (CAI) and others by the Rocky Mountain Chapter of CAI. Here are more resources for HOAs and Condos regarding Coronavirus: Blog.caionline.org – Best practices for…
With the daily changes in response to COVID-19 many of us are being asked to modify our behaviors from what we’re used to. With many Boards looking for ways to conduct Board meetings remotely we’d like to offer the video call and conference call capabilities we use daily to prospects we’ve given a proposal to…
We receive a lot of good information from various sources and wanted to compile some of them for you to help your board and community. The following is a compilation of HOA and Condo Coronavirus Resources: Webinars, Articles, Sample Letters and More. Most of our info comes in from different chapters and the main office…
With the outbreak of Corona Virus we are seeing many businesses move to remote working as a way to self-isolate and reduce the spread of the virus. Are remote services for Condos and HOAs the new normal after the Coronavirus? The answer for the next few weeks and months is probably yes. Businesses are reducing…
Are you investigating the cost of financial management for your HOA or Condo Community? If you are self-managing you may be paying for things that you’ll save money on. If you are comparing your management company or alternative bookkeeping service there are many items they charge extra for that Community Financials does not charge extra…
Are you a Board Member or a Community Manager in the Denver Colorado area? Interested in HOA and Condo Accounting? Save the date for our Financial Transparency Seminar. Join us March 31, 2020 for a 1-hour seminar at Community Association’s Institute (CAI) Rocky Mountain Chapter’s Spring Conference & Trade show. Come and Learn About: – …
Russell Munz, Founder
Certified Manager of Community Associations (CMCA)
Expert Financial Oversight
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