Tag Archives: manage

FL: Cash flow forecasts and more

Nidia Repinski is an accountant and on the board of her HOA, Countryside of Welleby. She thanked the Coalition for keeping them in tune with what goes on within the areas of HOA and condos and wanted to let me know how her Association found better ways to manage finances. I know this good information will help others too.

Authors: Community…

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Policy for Collecting Delinquent Dues

Collecting Delinquent AssessmentsIt is a rare condominium or homeowner association that has yet to face the challenge of the pecuniary consequences of delinquent assessments.

Prior to the economic downturn that began in 2008, there were many portfolio managers, myself included, who managed associations that had never experienced the financially crippling effects of numerous delinquencies. Because they were so rare and infrequent, there was a tendency toward leniency and inconsistency, and legal action was rare.

But when your neighbors cannot pay their association dues, the balance radically shifts and those who can pay must pay extra just to keep the grass mowed, refuse removed and roofs from leaking. In harder hit associations, reserves are compromised to fund basic monthly operating costs.

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The Value of Good Association Management.

The purchase of a home represents the largest investment most people will make during their lifetime. Protecting and enhancing the property values of these investments is one of the primary purposes of a community association – and a key driver of Community Association Management’s service and programs.

Property values in a neighborhood can be greatly affected by the marketability of the individual homes and the community as a whole.   A well maintained community can develop a reputation for providing vital and efficient services for its residents who in turn enjoy and show pride in their neighborhood.  As a result, these communities often achieve greater appreciation in property values than others.  In most cases, these positive reputations can be attributed to good management.

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