Your HOA must create a new budget for the community every year. How the HOA does this makes a big difference in the outcome. Many HOAs rely on St. Petersburg HOA management companies to make sure that their budgets work. Here is a guide to developing a yearly HOA budget. What are the Total Community … Continue reading “Important Considerations for Your Annual HOA Budget”

Every year, your HOA must create an annual HOA budget. This budget guides spending and how much you collect from residents. Making it accurate helps the community avoid potential problems. Use this article as your Tampa homeowners association management step-by-step guide to creating your annual HOA budget. 1. Determine Yearly Costs The first step in … Continue reading “Step-by-Step Guide for Creating Your Annual HOA Budget”

Tampa homeowners association management boards are required by law to disclose financial information at meetings and when requested by residents. This information can include the association’s budget, as well as the financial reserves. The topicmust be addressed quickly if raised during a meetingand the association is obligated to respond to a resident’s request promptly. Financial … Continue reading “Are HOA Boards Required to Put Financial Reserves on Meeting Agendas?”

One of the keys to effective St. Petersburg homeowners association management is communication. Communicating with your HOA board members and residents can be a difficult challenge for many homeowners associations. Many homeowners worry if they’re being heard or ignored when they need answers, while board members struggle to keep up with the influx of emails … Continue reading “Best HOA Communication Tools”

Determining how much to charge condo owners in fees is a critical aspect of St. Petersburg condo management. If you charge homeowners too little, the HOA board won’t be able to take care of repairs and maintenance needed in shared spaces. If you charge too much, homeowners may take issue with being charged an unfair … Continue reading “How to Assess HOA Fees”

There is no doubt that managing an HOA board is a lot of work. There are many legal requirements, administrative tasks, and community-wide communications to take care of. Unless your HOA is large enough to have its own paid, full-time staff, these are often tasks board members need to manage on top of their regular … Continue reading “Common Mistakes Boards Make When Managing Their Own HOAs”