The Importance of Financial Guidance and Structured Phasing
A developer who was constructing his first Common Interest Development approached us. The project was a gated HOA Community that featured several large and captivating common areas…
A developer who was constructing his first Common Interest Development approached us. The project was a gated HOA Community that featured several large and captivating common areas…
Budgeting is a critical aspect of managing a homeowner’s association. It helps ensure that the community’s financial needs are met while maintaining financial stability. However, some common budget mistakes can hinder the smooth operation of an HOA. One such mistake is borrowing from reserves. In this blog, we will discuss the potential pitfalls of borrowing from reserves and explore the legal implications of this practice.
In every Homeowners Association board, there’s often one member who passionately opposes any increase to the budget. Regardless of justifications, this individual consistently votes against it. We were contacted by a Condominium Association that had never conducted a reserve study in its 18-year history.
Are you in the early stages of forming a Homeowners’ Association (HOA) for your new residential development? Crafting the ideal HOA budget is a crucial step toward ensuring the smooth operation and long-term financial health of your community.
California Building Services provided the necessary information to the DRE, enabling the builder to obtain their Final Report for their upcoming closings and stay on track with their schedule.
As an owner or manager of a homeowner’s association or other planned community, it’s your responsibility to ensure that finances are properly managed. Reserve studies are vital for an association to maintain its financial health, as they are required to take place every three years in accordance with CA Civil Code 5550. However, there are several misconceptions about them. We’re going to divulge some of the most common myths about reserve studies and explain why they are untrue.
In recent years, the amount of new community associations has experienced a remarkable surge in numbers. However, community associations have not been immune to the far-reaching effects of the pandemic, like surging sale prices and inflation. Both developers and homeowners have encountered their fair share of challenges. In today’s landscape, everything comes at a higher cost, and HOA budgets need to reflect these price increases accurately.
As the world population continues to grow, the demand for land will only increase. By subdividing land into multiple usable lots, the possibility of reaping additional profits is highly likely. This has led many people to ask the question, “How do I subdivide land?”
Homeowner’s associations (HOAs) are constantly evolving and adapting to meet the ever-changing needs of residents. As California’s real estate market continues to grow and change, what can we expect to see as the next big thing in HOAs in the state?
A well-run Homeowners Association (HOA) can lead to an increase in property value and heightened satisfaction from owners and can considerably enhance your home ownership
If you have questions, we’d love to hear from you!