There is always a way to prevent or solve financial issues. Considering how important finances are to an HOA, you can’t afford to let even a single aspect slack. Others, though, find the execution difficult - staying on budget and collecting dues. Many boards struggle with preparing the budget and setting dues. This will allow your board to remain in the loop on homeowners association laws and avoid breaches.Įvery homeowners association goes through some form of financial trouble or another. As a solution, it’s a good idea to seek the help of an HOA attorney. But, unfortunately, not all boards are lucky enough to have a member with legal experience. And these laws can change from time to time, requiring your HOA to adapt all over again.įortunately, keeping up with changes in legislation isn’t all too difficult when you have a background in law. There are many federal, state, and local laws that can affect how you run a community association. Here are the most common homeowners association problems and how you can address them:
