Community Association Financials

Budgets, Dues, Association Fees, Assessments, Financial Controls, Insurance, Reserves

Foreclosure Fundamentals: Follow All the Rules

A Florida HOA didn’t provide an owner it was trying to foreclose on with documents required by the declaration. The result? The case is going to trial (Pash v. Mahogany Way Homeowners Ass’n). Read on to learn some important lessons about how to handle foreclosures. Budget Procedures Matter The HOA filed a foreclosure action against…

Condo Board Found Liable to Prospective Buyer in Broken Deal

Can a condo board ever end up liable to the prospective buyer of a unit after the deal didn’t go through? It apparently could in New York. A state court there allowed such a lawsuit to proceed against a board that didn’t exercise its right of first refusal but allegedly also didn’t provide a document…

Due Diligence With Vendors Is Worth It – Here’s Why

A management company’s ability to form positive, productive relationships with competent and reliable vendors can make or break its ability to deliver for its client associations. From landscapers, pool service companies, and maintenance firms to attorneys, accountants, and insurance agents or brokers, here’s how to form and maintain successful relationships with your vendors. Due diligence…

Would-Be Buyer Can Sue Condo Board for Withholding Approval

Can a condo board ever end up liable to the prospective buyer of a unit after the deal didn’t go through? It apparently could in New York. A state court there allowed such a lawsuit to proceed against a board that didn’t exercise its right of first refusal but allegedly also didn’t provide a document…

This Could Be the Start of a Beautiful Relationship: 5 Tips for Working with Vendors

A management company’s ability to form positive, productive relationships with competent and reliable vendors can make or break its ability to deliver for its client associations. From landscapers, pool service companies, and maintenance firms to attorneys, accountants, and insurance agents or brokers, here’s how to form and maintain successful relationships with your vendors.1. Perform thorough…

Don’t Drag Your Feet on Delinquent Owners – It Could Cost You

Community associations often drag their feet when it comes to filing liens against delinquent owners. The reluctance can be understandable — who, for example, wants to take such a step against a neighbor who has lost a job or racked up medical bills? But this reluctance can prove costly, as one Nevada association recently learned…

Don’t Let Your Clients Lose the Lien Race

Community associations often drag their feet when it comes to filing liens against delinquent owners. The reluctance can be understandable — who, for example, wants to take such a step against a neighbor who has lost a job or racked up medical bills? But this reluctance can prove costly, as one Nevada association recently learned…

Court Says Manager Wasn’t a Debt Collector – But This May Not Always Be True

A federal Court of Appeals recently ruled that a community association manager wasn’t a “debt collector” for purposes of the Fair Debt Collection Practices Act (FDCPA), which strictly regulates the conduct of general debt collectors. But managers shouldn’t take too much comfort in the decision because it left open the possibility that the result might…

Budgeting in a Time of COVID

We're willing to bet that very few of your clients' budgets are on track for 2020, and figuring out how to adjust and plan for 2021 is complicated. “We’re looking at all those odd pieces, the additional costs associations have borne since March,” says Paul Grucza, director of education and client development at the Seattle-based…

Budgeting for 2021: The COVID-19 Factor(s)

We're willing to bet that very few of your clients' budgets are on track for 2020, and figuring out how to adjust and plan for 2021 is complicated. “We’re looking at all those odd pieces, the additional costs associations have borne since March,” says Paul Grucza, director of education and client development at the Seattle-based…