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Category: Finance

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2024 Fall/Expo Money Mindfulness

It’s an all-too-common habit among many condo and HOA board members: assuming that their treasurer or property manager is keeping a close eye on their community’s financial information, they don’t bother familiarizing themselves with their …

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2024 Fall/Expo Fiduciary Duty Explained

As members of co-op corporations and condominium associations, we often hear the term fiduciary duty bandied about. But what does it really mean to be a fiduciary? Stated simply, the term ‘fiduciary’ means trust. When a person managing the …

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Winter 2024 Understanding Your Monthly Financial Information

Congratulations—you’ve just been elected to your HOA’s board of directors, and given your first monthly financial packet. Maybe your first thought is, “This is all so confusing—thank goodness I’m not the treasurer, and don’t have to underst…

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Understanding Your Monthly Financial Information

Congratulations! You’ve just been elected to the board of directors, and given your first monthly financial packet. Like many new board members, your first thought may be, “This is so confusing. Glad I’m not the treasurer - I don’t have to …

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2023 Summer The Collections Process

Cash flow is the lifeblood of any multifamily residential community, be it a rental building, co-op, condo, or HOA. However, because the latter three are nonprofit entities, maintaining consistent cash flow is even more critical to their he…

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Is Your Condo on Fannie Mae’s Blacklist?

As has been widely reported lately, Fannie Mae, which is under the conservatorship of the Federal Housing Finance Agency (FHFA) has developed a secret blacklist of condominiums, HOAs and co-ops that are ineligible for “conventional financin…

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Fall 2022 Safeguarding Your Reserves

In our current environment of steeply rising costs, it’s more important than ever to safeguard your reserves to ensure that your association has sufficient funds available for immediate and future capital projects. Unfortunately, many assoc…

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Collecting Delinquent Common Charges

A recent article on a real estate website posed a common question: What’s the best way for a condo board to collect unpaid common charges?  The author of the article - presumably an attorney - gave some pretty good advice…and some not so g…

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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 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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