Category

HOA Finance

HOA Fees and Assessments

The Truth About HOA Fees: Worth It or Wasteful?

Living in a homeowners association means paying regular HOA fees. These fees play a vital role in the success and operation of an HOA. Still, many homeowners don't know how these fees function and deem them unnecessary. In truth, no HOA community can survive without these fees.   Define HOA Fees: What Are They? Homeowners association fees are fees that members of an HOA pay to the association. Also known as HOA dues, homeowners agree to pay these fees upon…
Denise
May 15, 2025
HOA FinanceHOA Reserves

How HOA Reserve Funds Protect Your Community’s Future

HOA reserve funds are an important tool for the long-term financial stability of any association. While HOA managers can help maintain and budget the reserves, it is the primary responsibility of the HOA board to manage this fund.   What are HOA Reserve Funds? A reserve fund is essentially a savings account that an HOA sets aside for future major expenses, such as repairs and replacements. This fund is not the same as an operating fund, which is used to…
Azalea
January 22, 2025
HOA FinanceHOA Insurance

Rising HOA Insurance Costs And The Impact On HOA Fees

Rising HOA insurance prices prevent some associations from securing the coverage they need. Even worse, many homeowners are increasing dues to cover the additional costs. Board members must understand the reasons behind these increases and how to deal with them effectively.   What is the Cause of Rising HOA Insurance? For many homeowners associations, insurance is a major expense. In addition to the master policy, HOAs need to acquire various coverage types, including D&O insurance, workers' compensation insurance, liability insurance,…
Azalea
January 22, 2025
HOA FinanceHOA Maintenance

How To Reduce Maintenance Costs In HOA

Managing an HOA budget is like walking a tightrope. You must balance quality services with reasonable costs, all while keeping homeowners happy. Sound overwhelming? Don’t worry—we’ve got you covered! Here’s how you can fine-tune your community’s expenses without sacrificing what makes it unique.
Azalea
December 10, 2024
HOA Fees and Assessments

Your Complete Guide To HOA Special Assessments

Every now and then, homeowners in an HOA might encounter a special assessment. This differs from regular fees, which are paid on a monthly, quarterly, or yearly basis. Homeowners associations usually charge a special assessment to cover a shortfall in the budget, but it should not happen often.   What is an HOA Special Assessment? Special assessments are one-time fees that an HOA charges to homeowners. These assessments are used to cover a budget deficit or an emergency expense. It…
Azalea
January 12, 2019
HOA Deliquency

What’s The Right Way To Deal With HOA Delinquency?

Having a high HOA delinquency rate can negatively impact association finances. Board members should know how to deal with delinquent accounts, while homeowners should do their best to minimize delinquencies. In doing so, they can maintain high property values and ensure their investments are safe.   What is HOA Delinquency? In homeowners associations, delinquency refers to a failure to pay outstanding dues. Homeowners in HOA communities are obligated to pay regular fees. The HOA then uses these fees to cover…
Azalea
July 15, 2018