RealManage Insight

HOA Finances During COVID-19 | What Should Associations Do?

HOA Finances During COVID-19 | What Should Associations Do?

HOA | Condo Emergency and Safety

As we continue to face the uncertainty of these times, many community association boards are beginning to question the ways in which their associations should respond to community finances, as well as assist homeowners financially with regards to deferring collecting of assessments. Board members and management professionals alike are endeavoring to think ahead about the impact on the community, and what can be done to alleviate the financial strain these decisions will have. It is essential to understand, though, that it is tremendously harder for a residential association to change how handles it's finances than a for-profit business. Therefore, here are some reality's that association boards need to think through before implementing changes.

By Mary Arnold, CMCA®, AMS® on Apr 14, 2020 8:45:00 AM
   
HOA Finances During COVID-19 | What Should Associations Do?

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