Small HOAs, Big Financial Responsibilities A small homeowners association (HOA) may oversee just a handful of homes or a small condo complex, but its financial responsibilities are just as important as those of a larger association. While “small” can mean different things to different communities, it generally refers to HOAs and Condo Associations with anywhere…
If you are not used to looking at financial reports they can seem as confusing as a foreign language. If you have limited time as a HOA or Condo volunteer or are a busy Manager what reports should you review before your meeting and what do all the numbers mean? Join us to learn about…
Surveillance cameras are increasingly common in condominium communities, offering a layer of monitoring for various purposes. However, it’s important to differentiate these from security cameras, as the presence of surveillance video is primarily for rule enforcement, not safety. Attorney Kristie Leff of Bender Anderson & Barba P.C in North Haven, CT advises that associations establish…
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…
Russell Munz, Founder
Certified Manager of Community Associations (CMCA)
Expert Financial Oversight
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