Effective management of reserve funds is critical for homeowner’s associations (HOA’s) to ensure long-term financial stability and address significant future expenses. Reserve funds are designated savings used for large-scale projects such as roof replacements, paving, painting, or other substantial repairs […]
Homeowners Associations (HOAs) oversee common areas, amenities, and finances within residential neighborhoods. Accounting is among the crucial functions an HOA must perform because it deals with managing funds correctly, ensuring financial reports are accurate, and budgeting appropriately. Just as every […]
In recent years, the landscape of condo association accounting has been significantly influenced by new legislation aimed at increasing transparency, accountability, and financial health. For condo associations, staying compliant with these laws is not only crucial for legal reasons but […]
Homeowners’ Associations (HOAs) play a crucial role in managing and maintaining communities, ensuring that common areas and amenities are well-maintained and property values are preserved. Central to the effective operation of an HOA is proper accounting and financial management. In […]
The real estate accounting requirements of HOA communities can be complicated. Budgets, financial objectives, and compliance with state rules and regulations regarding HOA finances are all the responsibility of the board. However, not all board members come with extensive accounting […]
If you manage a homeowners association and intend to cut costs, you should consider outsourcing accounting to a professional financial services firm. Outsource HOA accounting is an economical solution that can save your association a large sum of money in […]
When you speak to a real estate broker before buying an apartment, you come across a lot of jargon which might sound confusing. Do the words Condo Strata HOA and Co-op associations sound familiar to you? If they are, then […]
