It is imperative that the board not only choose the right vendor for the job but also make sure they enter into contracts that are beneficial to the association.
Some boards believe they need three bids for every contract, no matter how small or how undefined the scope of the work is. That’s not always the right thing to do.
The Corporate Transparency Act and the filing requirement for HOAs are obligations that must be addressed.
Even the most financially savvy board can’t avoid raising association dues forever — nor should it.
To avoid serious financial problems, an association board has to be—and stay—proactive in its collection efforts.
Our board will not provide insurance for common areas because they say it isn’t needed, and it’s expensive. Can homeowners independently insure their association common areas?
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