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Finances

It All Begins with a Budget

Ahh, the dreaded community associ­ation budget. It’s hard for anyone to be excited about the responsibility to plan and forecast expenses for an entire year. Let’s not make it worse by failing to recog­nize that it’s a process and not just another task to cross off your to-do list. By planning your attack—you can not

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Finances

Your Service Providers and Your Budget

Now that budget season is in full swing, it is the time to talk budgeting with your vendors. Of course, the board has several goals for their property, but at what cost? Are they willing to increase their association fees or a special assessment? What can we do with your current budget? The best way

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Finances

Fixed Income Strategy for Homeowner’s Associations

Boards and board treasurers often have questions about how to most optimally structure their replacement reserve portfolios. Especially during periods of rising interest rates, there is significant fo­cus on the Federal Reserve, their decision to raise rates, and the effects of rate hikes. Even if the Fed decides to raise rates, this decision does not

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Finances

Should Condominium Fee Assessments Go up Every Year?

Psychologically, it hurts less to have a 2 or 3% increase every year than go three years without an increase and then get hit with a 6 or 9% increase. We tend to forget the prior years and focus on the present. People tend not to question small increases that they pay every year.   In the

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