Generally, communities with HOAs require homeowners to pay monthly dues. These dues are used to pay for neighborhood upkeep and many other factors. However, in some cases, an optional cost may appear. For example, the community may decide it wants a community garden, but it isn’t in the budget. In these cases, holding a neighborhood fundraising event is the perfect solution. Check out these great ways to raise money.
Hold Hobby Lessons
Everyone has a hobby they love, so why not let them share that hobby with the neighborhood. Residents can teach others how to do something, such as cooking, knitting or automotive care. The residents can volunteer to teach, and the HOA can charge a fee to attend, and the money can be used for whatever special project they are working on. Continue reading →
In the past, paying bills meant getting out the checkbook, sending a check and wondering if it made it to its final destination. Now, more and more people are turning to online payments because of their great benefits. Check out these three reasons you have to use e-payments for associate dues and other bills. Continue reading →
HOAs have long complained about how difficult it can be to collect delinquent fees that they are owed by homeowners who rent out their homes. In response, some states have taken action to allow HOAs to demand payment from the tenants of properties that have past due rent or fees, even though they are not technically the ones who have an agreement with the association.
While many HOAs are breathing a sigh of relief that they now have more avenues to recoup their losses and put pressure on delinquent accounts, these laws have also created a situation where the people being held responsible are technically innocent parties that have been put in the middle of a conflict they may have no control over. Despite this, some associations are resorting to booting residents’ cars, even those owned by tenants and not delinquent owners. Is this going too far? Continue reading →
When times get tough and money runs short, HOA dues and assessments are often one of the first things to stop being paid. For most people, electricity and credit card bills come first. But, what happens when a resident falls behind on their dues for 6, 7 or even 12 months? Assessments serve an important and necessary function for the community, and associations need to take a stand when serious delinquencies happen. There are several options available, including liens, lawsuits and foreclosure. Which are the right steps to take against residents who have fallen seriously behind?
Not so long ago, online payments seemed like a strange, foreign thing that made people very nervous. Send my money online? How do I know it’ll really get there? How do I know I can trust the people with whom I have to share my financial info? Why can’t I just send a check? Nowadays, most people have gotten over their anxiety about online bill pay, and many HOAs have started accepting online payments. Continue reading →
Anyone who has an American Express or Discover credit card has surely had one of those aggravating moments where they try to pay with their card, only to be told their card type isn’t accepted there. Why are American Express and Discover the apparent redheaded stepchildren of the credit card world? What makes them different from Visa and Mastercard, which are accepted as a form of payment pretty much everywhere? Continue reading →
Collecting dues from residents who are behind on payment can be a constant struggle for HOAs, especially in tough economic times. While residents who plead financial hardship are often telling the truth (though the weak economy and a soft job market also provide a perfect excuse for residents who could pay, but have chosen not to), non-payment of dues still costs HOAs money that needs to be spent on the upkeep of the community. Because of that, residents often need to be made to feel pressure that gets them to become current with their payments. One of the most common measures an HOA can take in these instances is revoking the use of amenities. If used effectively, taking away amenities is a great way to encourage residents who are behind on their payments to get back in the association’s good graces. Continue reading →