Keeping an emergency fund adequately supplied is a best practice for all homeowners, and the same is true for condo associations. Although an HOA’s reserve funds only go toward the repair and replacement of common elements rather than individual upgrades, their...
Ending the fiscal year on a high note with surplus funds in your budget can be a positive situation for your Florida condo association. Though it may sound increasingly rare, it does happen, and your board of directors needs to know what to do if such a situation were...
Your condominium association’s annual budget should be highly informed by your HOA’s financial statements. Keeping close watch over the association’s financial health will tell you how well the board of directors is doing in managing the HOA’s income and expenses and...
The annual budget for condominium associations and HOAs impacts all unit owners, but do all owners have a say in whether or not the proposed budget gets approved? The answer will depend on your association’s bylaws and governing documents, but for most HOAs in...
Though we often speak of it as a once-a-year event, budget planning for your condo association is something your board should be thinking about year-round. Regularly reflecting on what’s going well and considering which areas need more attention can prove invaluable...
