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…
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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