Top 13 Budgeting Mistakes Self-Managed Boards Make

Planning the right budget for the community is crucial in making sure the homeowner’s association is not underfunded. However, when the HOA is run by a self-managed board who are not financial experts, financial issues may unfold. Poor budget planning can cause serious conflicts between the HOA board members and homeowners, which is the last thing the HOA management wants to happen. For those who have self-managed boards, here are the budgeting mistakes to watch out for and avoid at all cost:    Read the article………………………

Editor

Recent Posts

The ABCs of HOA Covenant Enforcement

There is perhaps no task more vexing for a Board of Directors than enforcing the…

2 hours ago

Bright street lights steal homeowners’ sleep (NV)

Q: Six months ago our homeowners association began replacing working streetlights with new ones. The…

2 hours ago

The Ethics of the Fiduciary Duty from the Litigators’ Lens

The topic of an association's board of directors' fiduciary duties is not new to this…

3 hours ago

There is No “I” in Board – The Collective Responsibility of Your Condo Board

Condominium and common interest community associations operate under a board of directors typically comprised of…

3 hours ago

To Give or Receive: A Guide to Crafting a Gifting Policy for Managers, Management Companies, and Boards

Gift-giving in the workplace amongst managers, management companies and vendors can be a thoughtful gesture,…

3 hours ago

Community Cohesion

While HOAs can sometimes be subject to misconceptions, cultivating community cohesion can transform them into…

3 hours ago