Every now and again you read in the paper, or hear on the local news, about a homeowner and an HOA that come into serious conflict with one another. Sometimes, in fact, it can almost seem like a knock-down, drag-out skirmish—typically over something seemingly trivial, like lawn decorations. Those who serve on the HOA board know the reality—that these ugly situations are far from the norm, but that they do happen from time to time.
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Planning and Investing Your HOA’s Reserve Fund
02/14/2012In the case of a smaller HOA, board members can use their own world experience and general knowledge of finance to come up with good investment plans. Here are a few quick pointers for helping you lay these plans.
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HOA Transparency, and Your Meeting Minutes!
02/07/2012Lately, this blog has talked a great deal about the concept of transparency—of being open and honest and up-front about everything your HOA board does. This is vital for ensuring fairness and full legal compliance, whether you’re taking bids on new vendors or reimbursing board members for out-of-pocket expenses. However, did you know that transparency is, in some situations, an actual requirement of law? In some states, HOA boards are required to give full disclosure of what is discussed in their meetings, especially as far as finance is concerned.
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Should Your HOA Board Members be Compensated?
01/31/2012Serving on an HOA board involves plenty of hard work and real devotion—enough that many HOA boards, particularly those that reach a certain size, begin to wonder if compensating their members might be the right thing to do. You can understand why they might feel this way. It makes sense to think that paid board members might be even more motivated than volunteers. However, compensating your board members is likely not the best idea—in fact, it is likely not even legal!
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Choosing a Vendor—Legally and Affordably!
01/24/2012We’re well into the New Year now, which means your HOA is likely thinking seriously about some of the major renovation or repair projects you have scheduled for the next few months. For many community associations, that’s going to mean hiring a third-party vendor—but what’s the best way to do so in full legal compliance, and with the utmost cost efficiency?
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