Preparing an accurate budget for your HOA may seem like a daunting task, especially during uncertain times such as these. At SpectrumAM, we believe careful planning and partnering with
At SpectrumAM, we continue to work with our associations’ banks to ensure accounts have proper FDIC coverage. We also want to make sure the rates being offered are competitive to
Assessment fees are payments the HOA collects from homeowners in order to cover expenses that the association is responsible for. Occasionally, the HOA may need to increase assessments. Before we
The HOA treasurer has an important job, and it’s more than simply keeping track of the association’s funds. A treasurer’s duties include maintaining financial records, monitoring delinquencies, preparing budgets, obtaining
Homeowners will inevitably have questions from time-to-time about the financial workings of the association. As they pay their association assessments, homeowners may become curious about how their money is being
The best way to tackle the threat of fraud or embezzlement is to keep it from happening. Because while the HOA may be able to win back money it has
A board member’s duties include taking care of the HOA’s yearly budget, monthly spending, and reserve funds. While HOAs usually hire management companies and accountants to help oversee how the
Do members or representatives of the HOA have permission to enter into, or onto, a homeowner’s property? The short answer is, technically, yes. However, although there are times when, legally,
Money plays a key role in both our professional and personal lives. When people look at organizations from an outside perspective, usually only the most visible financial attributes can be
Assessments are an essential part of living in an HOA; the association cannot function without proper funding and preparation. Because late or unpaid assessments hurt the entire community, credit reporting
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