Has your 2019 HOA budget passed? If not, what needs to happen to pass the budget? Does the HOA Board just need a consensus vote? Is it time to increase assessments? First, check your governing documents. These describe the manner in which the HOA budget is adopted each year. In most associations, the […]
On the surface, managing the homeowners association may seem simple and straightforward. Many HOA boards think they have it all together and can easily manage the HOA on their own. After all, can’t their community be self-managed? Is it required to hire an HOA management company? The answer isn’t that simple and there are factors […]
Some Homeowners Associations are lucky enough to have minimal collections concerns. However some, are constantly dealing the delinquency of homeowners falling behind on dues. No matter where your HOA sits on this spectrum, it is vital for your community to have a written collection policy documented for the HOA, and a managing partner to handle […]
It’s that time again. BUDGETS. Arizona HOA Management Company, Planned Development Services, starts the upcoming year budgets, in August (of the preceding year). Planned Development Services works in tandem with our Arizona HOA boards on their upcoming budgets. Here’s an inside look at the steps we follow, so you can prepare your HOA and understand […]
“The hardest thing in the world to understand is the income tax.” That statement, attributed to Albert Einstein, is widely thought to be true. But we find that the financials of a community (or homeowners) association – most of which are nonprofits – can be just as confounding as those pages upon pages of personal […]
How does an HOA collect during this volatile economic time? Nana says, “You Get More Flies With Honey Than You Get With Vinegar” We know and may have personally experienced the economic downturn of the past few years. When the downturn hit, many families were literally choosing which bill to pay and which bill to […]
“There’s no business like show business, but there are several businesses like accounting.” That’s talk show host pioneer David Letterman, who recently left his post at “Late Night,” joking about the oft-maligned work of accounting. And though he’s not the only comedian to make wisecracks about it, the truth is that accounting is a vitally […]
Why should my HOA complete a Reserve Study? A reserve study is a budget planning tool. It reviews the major capital systems in the homeowners association. The study evaluates how much life is left and how much items are likely to cost when they wear out. It calculates how much money the HOA needs to […]
