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Financial Management of Community Associations | Assessments

Financial Management of Community Associations | Assessments

HOA | Condo Board Responsibilities and Education, HOA | Condo Financial

Part 1: Assessments Defined

Part 1 | Part 2 | Part 3

What is an AssessmentAn assessment (sometimes referred to as a Maintenance Fee) is an Owner’s financial obligation to a community association during a given period of time (typically one year).  It covers the owner’s share of the common expenses.  An annual assessment may be paid on a monthly, quarterly or annual basis.  An assessment is a binding legal obligation based on the community association’s governing documents.  In condominiums and planned communities, assessments are binding obligations that the owner cannot avoid.

By Mary Arnold, CMCA®, AMS® on Jun 11, 2019 8:42:00 AM
   
Financial Management of Community Associations | Assessments

Part 1: Assessments Defined

Part 1 | Part 2 | Part 3

What is an AssessmentAn assessment (sometimes referred to as a...

By Mary Arnold, CMCA®, AMS® on Jun 11, 2019 8:42:00 AM
Stay Prepared Even If You ARE NOT in a Flood Zone: A Proactive Approach to Protecting Your Property

Mother Nature is often very unpredictable. Just because you don't live in a flood zone doesn't mean you are safe without...

By Katie Vaughan on Jun 6, 2019 8:04:00 AM
A Closer Look at Conveyance Fees: Are They Really Out of Control?

Conveyance fees are a part of doing business. When it comes to transferring HOA fees, the amount charged can vary depending...

By Holly Bunch on Jun 4, 2019 8:02:00 AM
Hurricane and Monsoon Season is Here - Is Your Community Prepared for a Disaster?

Hurricane and monsoon season officially starts in early June, which means now is the perfect time to make sure that your...

By Amanda Causey on May 30, 2019 8:52:00 AM
Financial Management of Community Associations | Budgets and Replacement Reserves Part 4

Part 4 : Reserve Account/Reserve Funds

Part 1 | Part 2 | Part 3 | Part 4

The reserve account consists of funds put aside in...

By Mary Arnold, CMCA®, AMS® on May 28, 2019 8:06:00 AM
How to Make Your Pool More Sustainable

For many community associations the pool is a key amenity where neighbors can gather and enjoy the sun.  However, pools,...

By Diana Larson on May 23, 2019 8:45:00 AM
Financial Management of Community Associations | Budgets and Replacement Reserves Part 3

Part 3 : Budgetary Roles and Responsibilities & Budget Presentation

Part 1 | Part 2 | Part 3 | Part 4

The roles and...

By Mary Arnold, CMCA®, AMS® on May 21, 2019 8:12:00 AM
Cumulative Voting for Community Associations

Electing the right people to the leadership board of your community association is essential for success. Board elections...

By Daneen Reinke on May 16, 2019 8:24:00 AM
Financial Management of Community Associations | Budgets and Replacement Reserves Part 2

Part 2 : Budget Preparation

Part 1 | Part 2 | Part 3 | Part 4

A budget usually applies to a 12-month period (Jan 1 to Dec...

By Mary Arnold, CMCA®, AMS® on May 14, 2019 10:16:00 AM
How Should HOAs Handle Security Cameras?

Security cameras have been an issue for a while, but new technology such as the Ring security system with cameras attached...

By Amanda Causey on May 9, 2019 9:18:00 AM