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Category: Finance

Finance Arrow with dollar bills pointing up. Concept shot for currency exchange rate going up, inflation, economic boom
As Costs Rise, So Do Carrying Charges

The Community Associations Institute (CAI) estimates that 74 million Americans live in communities managed by homeowners associations, of which condos account for 35% to 40%. That’s a lot of people - many of whom may be in for a nasty shock…

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Finance Tapping Reserves in a Time of Financial Crisis
Tapping Reserves in a Time of Financial Crisis

It’s a question we’re asked all the time: "Can we use reserves to cover an operating fund shortfall?" Under normal circumstances, our standard response would be an emphatic “No!” -- because reserves are for major repair and replacement proj…

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Finance Financial Oversight
Financial Oversight

Condo association and HOA living represents a unique social arrangement; it’s a paid-for membership club and a home at the same time. Many people enter into this arrangement without a complete understanding of the responsibilities of member…

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Finance Funding Capital Projects
Funding Capital Projects

You work hard and try to put money away to be used for a rainy day —hoping of course that that ‘rainy day’ is a long-awaited trip to somewhere fabulous and tropical. Then, boom—the brakes on your car suddenly go, or one of the kids needs br…

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Finance What Boards Need to Know About Finances
What Boards Need to Know About Finances

Money, money, money. The world runs on it. And your building’s well-being depends on it. The issue is not just having funds, but managing them. Handling the purse for an entire building or HOA is a major responsibility, and boards -- even …

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Finance Inadequate Reserves
Inadequate Reserves

There are few feelings worse than encountering an unexpected expense and finding the piggy bank empty. That is why reserve funds and reserve studies are such important elements in the financial well-being of associations, condo associations…

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Finance Budgeting 101
Budgeting 101

Preparing the annual budget for a condo association or HOA isn't quite like figuring out a budget for a couple, or even a large family. The board of a multifamily building or association has to consider all the angles—past, current, and fut…

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Finance Spotting Financial Irregularities
Spotting Financial Irregularities

While it's pretty much impossible for an association board or employee to commit fraud on the scale of a Bernie Madoff or any one of the herd of shysters who have tromped through the news in recent years, building boards and managers certai…

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Finance Collecting Arrears
Collecting Arrears

The majority of association residents pay their monthly maintenance fees on time and in full with no problem. The recent recession, however, changed the picture drastically for residents who found themselves laid off, under-employed, or wit…

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