We wanted to let you know about an exciting new resource for HOA and condo boards to learn more about how to better operate their community. We will be recording our discussions with industry leaders in a new video series: “Ask an Expert”. In this video you can watch our Ask an Expert video series…
Yesterday I was a guest presenter on Association Reserve’s Webinar series. The topic: Is Your HOA/ Condo Association Fiscally Responsible? Over the course of 2 sessions yesterday we had some great questions from the audience that I wanted to share. Additionally, at the bottom of this post is a link to watch one of the…
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 simple theory. While it is…
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…
Some communities are self-managed but want a little extra help. Other communities want to divide the monthly accounting from the other duties of a manager either due to competence or for better checks and balances. The solution is to use a manager on an as needed basis. So can your HOA or Condo hire a…
There are always some owners that don’t pay their Homeowner Association (HOA) or Condo charges on time. Some owners don’t pay for many months – and the list of delinquent owners and the amount of money owed gets larger when there is a recession. The amount of uncollected money causes a financial problem and risks…
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…
A key part of financial transparency is access to banking information. We selected one of the few national banks that specializes in HOAs and Condo banking. We use this bank to provide operating accounts since as they interface with our accounting systems to provide online payments and checks mailed directly to the bank’s lockbox (a…
All in favor, say “Aye”! If only the process of electing community association directors were that simple! Depending on the size and complexity of your association, you may find the proper handling and record keeping requirements of annual elections to be a significant burden. Did you know there are a myriad of online election tools…
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.
Need to change an existing consultation? Email info@communityfinancials.com
