HOA boards dutifully save part of each year’s revenue in a reserve fund for the association. But, what exactly is this reserve fund for, and how can the board ensure it is used responsibly? In
How to Keep Assessments Low in Your HOA Member satisfaction is a key element to running a successful HOA, and raising assessments is not something most board members want to face. Assessments must be high
Explaining HOA Assessments to Homeowners As our partner, we want to help you set your community and homeowners up for success. Timely and effective communication regarding assessments is one important way to get each year
Your Guide to HOA Finance, Budgeting, and Accounting Kindly allow us to share a basic refresher on some financial terms related to accounting, financing, and budgeting. You may encounter these concepts in your role
Every homeowners’ association needs to have reserve funds set aside to help properly maintain the community and its facilities. Reserve funds are kept for major improvements to the association as needs arise over time. Community
As the end of the year approaches, we will soon be entering tax season. To help your board prepare for this busy time, SpectrumAM has put together some common questions regarding HOA taxes: Where
When running an HOA, there’s always a need for more funds. Even the most financially stable HOAs can always find ways to put more funds to good use. So, you may be wondering: Can HOAs
Here at Spectrum Association Management, we love helping our customers navigate every aspect of HOA management. One topic that doesn’t get talked about enough is how to protect your association’s finances from fraud. While
Even with their many expenses, an HOA board may reach the end of the year and discover they have an operating funds surplus. This occurs when all revenue or receipts, which may include rents, assessments,
HOA board members must always act in the best interest of the community, especially when it comes to deciding whether to invest association funds. It’s a decision that shouldn’t be taken lightly and must be
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