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…
QuickBooks Desktop Bows Out – HOAs, Time to Upgrade! Intuit has announced a significant shift in the accounting software landscape with the discontinuation of QuickBooks Desktop, setting July 31, 2024, as the deadline for final purchases. This pivotal change impacts numerous businesses and HOA communities that have relied on QuickBooks Desktop for their financial tracking…
Why Are Homeowners Charged a Fee to Make an Online Payment to their HOA and Condo And Is there a Way Around It? Many management companies charge a $1 or $2 fee each time a homeowner makes an online payment. This fee charged by payment processing companies, and marked up by management or software companies,…
There is a new development regarding the Corporate Transparency Act. A Federal court ruled the Corporate Transparency Act is unconstitutional. See below from the Community Associations Institute (CAI): Resources:CAI Corporate Transparency Act ResourcesCall to Action = Contact your Senator TodayFederal Court RulingNational Small Business Association Announcement Forbes Article For the time being compliance with the CTA…
One of the most widely used property management and accounting software for HOAs and Condo Associations to date has been Tops Pro. This software is being discontinued, and will not be supported past the end of 2024. If your community is currently using this software, what does Tops Pro and IQ discontinuing by the end…
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
