Resources Index

In this video, Russell Muns, founder of Community Financials, shares his journey from military service to establishing a company that offers specialized accounting and administrative services for homeowner associations and condominium communities. He highlights how Community Financials provides affordable, professional tools and support, making it easier for communities to self-manage or enhance their financial transparency and efficiency.

Recent Update: Filing Deadline Extended – March 21, 2025 HOA and Condo Boards, take note! The filing deadline for the Corporate Transparency Act (CTA) has been extended to March 21st, 2025. This extension, announced by FinCEN on February 19th, gives community associations extra time to comply with the Beneficial Ownership Information (BOI) reporting requirements. But…

I recently spoke with a representative from Tops/Enumerate, confirming that support for Tops Pro software – via calls or emails – will end after July 1, 2025. There have also been no recent patches or upgrades. They also said customers are strongly encouraged to transition to a different software solution before this deadline to ensure…

When updating or creating rules for a community association, it’s essential to ensure the rules are clear, enforceable, and legally compliant. These guidelines can help you craft rules that are both fair and effective for your HOA or Condo. Do: Use Clear, Direct Language Clarity is key when drafting community rules. Avoid vague language like…

As a board member time is one of your most valuable assets. However, many board members find themselves buried under the demands of meetings, reporting, and administrative tasks. One customer recently shared how they were spending over 30 hours a month on board responsibilities—time they believed could be used more effectively. Their goal? To find…

For some of Community Financials’ customers we have used RevoPay to help with encrypted online payment processing.  They handle e-checks and credit card transactions.  Their system plugs into our accounting software and is a “behind the scenes” part of our homeowner online payment solution. RevoPay was founded in 2002 as a cloud-based e-payments software and…

In a significant development, the U.S. District Court for the Eastern District of Texas issued a preliminary nationwide injunction on December 3, 2024, halting the enforcement of the Corporate Transparency Act (CTA) and its beneficial ownership information (BOI) reporting requirements. This ruling blocks the requirement for businesses, including community associations, to file their BOI reports…

Community association boards and property managers understand how crucial it is to set fair and sustainable condominium assessments. However, knowing whether your assessments align with the market or need adjustment can be challenging. Thankfully, the Foundation for Community Association Research has developed an invaluable tool to assist you in comparing your condo dues to those…

On October 11, the Alexandria District Court held a preliminary injunction hearing in Community Associations Institute (CAI) v. U.S. Department of Treasury, a pivotal case challenging the Corporate Transparency Act (CTA). CAI has been fighting to protect community associations from the burdensome requirements imposed by the act. A crucial update came on October 24 when…

Navigating California’s complex HOA regulations can be challenging for board members and community managers. Staying compliant with the latest legal updates is crucial to maintaining smooth operations and protecting the interests of homeowners. With the introduction of significant changes to California HOA laws in 2024, it’s more important than ever to understand how these regulations…

At Community Financials, we occasionally investigate services that may benefit community boards and property managers, helping them operate their communities more efficiently. One noteworthy solution is Wayleadr Home, which simplifies parking management for any property including HOA and condo communities. Optimize Your Parking Allocation Wayleadr Home’s standout feature is its ability to create a customized…

Community Financials has introduced a two-column Balance Sheet format that separates Operating and Reserve Funds, providing a clearer picture of the financial position for homeowners’ associations (HOAs) and condominiums. This blog explores how this new format differs from a traditional Balance Sheet, how to read it, and why it simplifies understanding for board members. How…

In the fast-paced world of Homeowners Associations (HOAs) and condominium operations, consistency and reliability in accounting are essential. Interruptions can arise from various factors, including staff illnesses, vacations, or unexpected natural disasters. Implementing strategic measures is crucial to protect your accounting processes and ensure smooth operations. The Danger of Limited Staffing One significant pitfall many…

To support our clients, we’ve created The Successful HOA – a resource hub that offers essential tools and guidance for board members. Whether you’re new to the role or looking to streamline the transition between board members, The Successful HOA features general topics, demo videos, and how-to guides to help you quickly get up to…

As we approach the end of the year, many communities are gearing up for the budget season, especially those with fiscal years aligned with the calendar year. With the new fiscal year starting January 1st, it’s crucial to adjust budgets to ensure that they cover rising expenses, upcoming projects, and reserve funding. Understanding the Importance…

Starting January 1, 2025, Florida’s Homeowners Associations (HOAs) will face new requirements regarding online access to community information, thanks to the recently signed House Bill 1203. This legislation aims to enhance transparency and accessibility for homeowners by mandating online portals where residents can access essential documents and information. Your community may not be in Florida,…

Communication with delinquent homeowners in a homeowners association (HOA) or condominium association is crucial for maintaining financial stability and ensuring community upkeep. Navigating this process requires sensitivity and strict adherence to legal guidelines. Here, we will explore common mistakes to avoid when contacting delinquent owners, emphasizing the importance of compliance with regulations and fostering positive…

Community Financials, a Business Partner member of Community Associations Institute, is pleased to share the latest information with our network. In June 2024, the Community Associations Institute Board of Trustees voted to file a lawsuit seeking an exemption for community associations from the burdensome provisions of the Corporate Transparency Act. This action further underscores the…

We’re thrilled to announce a special upcoming event you won’t want to miss. Tune in live on July 8th at 3pm PT for an engaging episode of the HOA Insights Podcast, a podcast focused on educating HOA and Condo Board members. As part of Community Financials’ core values of We Listen, We Solve Problems, and…