Let’s face it – HOA financial management is rarely why someone joins the board. But staying on top of your community’s finances is one of the most critical responsibilities you’ll have. Still, it doesn’t need to be a constant source of stress. If your board is buried in spreadsheets or playing catch-up with budgeting and…
Managing insurance costs is becoming more challenging for community associations. To help you navigate these waters, we’ve put together a guide based on insights shared by insurance expert Dave Pilon, CPA, CFA, CIRMS, at a recent Community Association Institute (CT Chapter) Symposium. This guide covers key strategies for budgeting for HOA and condo insurance in…
Many Homeowners Associations (HOAs) face a common dilemma: how to achieve effective management without incurring the significant costs associated with full professional management. While self-management can seem appealing, it often places a heavy burden on volunteer board members. Fortunately, there are viable alternatives that offer a balanced approach. This topic was discussed in a podcast…
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…
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