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 →
Living in an HOA really is a community effort. Bulk expenses, such as keeping the common areas looking great come out of the dues paid by the residents, making it everyone’s responsibility. However, in many cases, different residents pay different amounts. Can these expenses be divided equally amongst homeowners? 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 →
No one likes to spend their hard-earned money on community association dues. Just like taxes, everyone complains about having to pay them and resents it when they go up. Sometimes an HOA will try to please their residents by avoiding fee increases and dipping into their reserve funds to cover a rise in costs. As attractive an option as this may seem, it is one that sacrifices long term planning for short term comfort. Not only that, but depleting the reserve fund in the name of saving residents money is often a road to costing them even more money when an emergency happens. Continue reading →