Community Association Financials

At a recent webinar on understanding association financials, a reader asked for advice on internal controls to put in place when the board employs one person “who does everything.” We presume that means one person handles all the community’s finances. Frankly, that setup worries Patricia A. Ayars, founder of Ayars & Associates in Glastonbury, Conn.,…

The California Court of Appeals recently found that an association didn’t deserve an attorneys’ fee award because it “turned tail” by unilaterally making rules changes instead of arguing against an owner’s objections to the rules in court (Artus v. Gramercy Towers Condominium Ass’n*). The case is a powerful reminder that, while state law or governing…

Many community associations today have Baby Boomer owners who are opting to stay in their homes, rather than move out to senior communities, nursing homes, or family homes. Managers and boards need to recognize and prepare for the impact this is going to have on their communities. For starters, it can be difficult in general…

An HOA in North Carolina recently learned a tough — and expensive — lesson about the potential pitfalls of noncompliance with statutory requirements for foreclosure. As the result of a misstep not even truly of the association’s own making, the foreclosure was reversed, and the association wound up on the hook for the owners’ attorneys’…

Many community associations today have Baby Boomer owners who are opting to stay in their homes, rather than move out to senior communities, nursing homes, or family homes. Managers and boards need to recognize and prepare for the impact this is going to have on their communities. Property Adjustments For starters, it can be difficult…

In the latest — and presumably final — round of a worrisome case we earlier covered, the Illinois Supreme Court has reversed the state court of appeals and ruled in the manager’s favor (Channon v. Westward Mgmt., Inc.). The appellate court’s ruling had left managers in the state vulnerable to costly class actions brought by…

Community association management firms often tend to drag their feet on adopting the latest technological innovations, to the detriment of themselves and their clients. “Our industry historically has been a little behind the curve when it comes to pushing for more advanced technology. There are only a small handful of technology companies in our space,”…

An HOA in North Carolina recently learned a tough — and expensive — lesson about the potential pitfalls of noncompliance with statutory requirements for foreclosure. As the result of a misstep not even truly of the association’s own making, the foreclosure was reversed, and the association wound up on the hook for the owners’ attorneys’…

Community association management firms often tend to drag their feet on adopting the latest technological innovations, to the detriment of themselves and their clients. “Our industry historically has been a little behind the curve when it comes to pushing for more advanced technology. There are only a small handful of technology companies in our space,”…

A Kentucky couple claimed that they shouldn’t have to pay assessments on their two lots because, as a result of erosion, one had “ceased to exist as a recognizable land mass.” The state court of appeals disagreed (Thompson v. Lake Cumberland Resort Cmty. Ass’n*). William and Theresa Thompson own two lots in the Lake Cumberland…