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Why Does Our Community Need a Reserve Fund? | reserve funds

Equipment and major components (like pool equipment) must be replaced from time to time, regardless of whether an association plans for the expense. It is preferred to plan and set the funds aside now. Reserve funds aren’t an extra expense—they just spread out expenses more evenly. There are other important reasons to put association monies into reserves every month:
Reserve funds meet legal,…

Ten Things Every HOA Board Should Know!

1. Your primary role should be to protect and enhance the value of your community, at large.

2. As directors and officers of a non-profit corporation, you have a legal fiduciary duty. Your actions and liability as a board member are generally protected by governing documents or state statues for non-profit corporation bases on duty of care, duty of loyalty, and acting in good faith. T…

Self-Managed Association – or are there other options for our Association? | hoa management

Self-Managed vs. professionally managed has long been debated in the association industry. Several factors behind the discussion are: we could save so much money doing it ourselves; we’re intelligent, dedicated people and frankly, this management stuff doesn’t look so hard and we’re going to lose control of our association. Wow, what misconceptions! There are other options for Associations…

Should your Association implement a Website? | websites for HOA's

If every member within an association was completely informed on every topic, and all the members were informed of the status of various projects through completion, as well as all the board’s decisions and financial status, then there would be complete transparency. In the past, there have been many obstacles that prevented associations from reaching this state of communication.

It can b…

The 2011 Homeowner Association Laws all Board Members Should be Aware of

Numerous laws were enacted by the 2011 Texaslegislature with the intent to provide good-governing parameters for HOA homeowners and their boards.  These include HB 2761, SB 472, HB 1228, and HB 362.  Descriptions of these newly enacted bills can be found on the State of Texas Legislatureweb site at: http://www.statutes.legis.state.tx.us/SOTWDocs/PR/htm/PR.209.htm.
Some of the new Texas…

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