HOA Accounting Archives

Why Your HOA Needs a Collections Policy

Why Your HOA Needs a Written Collections Policy

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 […]

Best Practices for Passing an HOA Budget

Best Practices for Passing an HOA Budget

Has your 2017 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 […]

PDS Blog | HOA Budgets

HOA Budgets – The Right Way (An Insiders Guide)

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 […]

HOA 101: The In's and Out's of HOA Financials and Audits

HOA 101: The In’s and Out’s of HOA Financials

“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 […]

HOA Accounting Advice for Self Managed Communities

Our HOA Accounting Advice for Self-Managed Communities

“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 […]