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HOA Candidate Qualifications: Not Everyone Can Run For Position

HOA Managememt

Usually, these qualifications are listed in governing documents. Vendor or contractor relationship: To avoid any conflict of interest, HOAs disqualify homeowners affiliated with vendors. However, this depends on what’s stipulated in the governing documents and board policy. This means renters or family members can’t do so.

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Property management accounting essentials: 6 must-have software features

Buildium

2: General Ledger Accounting Track your company financials with the same accuracy and efficiency that governs all other parts of your business. You’ll be prompted with suggestion on how to match up data and will even be notified in the rare event that a match cannot be found.

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HOA Meeting Minutes Mistakes: Bad Practices To Avoid

HOA Managememt

Here’s a bad example: “Board Member A said, ‘I dont trust that contractor,’ and Board Member B responded, ‘Thats ridiculous.’ ” Here’s the correct approach: “The board discussed concerns about the contractors performance and considered alternative options.”

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Are Housing Societies Taxable? Income Tax Rules Every RWA and Apartment Association Must Know

ADDA

TDS on payments to contractors and professionals If a RWA pays a professional more than ₹30,000 or a contractor more than ₹30,000 (in one payment) or ₹1 lakh (in a year), TDS must be withheld under Sections 194C and 194J, respectively. What are the most common tax-related mistakes made by RWAs?

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How to conduct an HOA reserve study: A guide for community managers

Buildium

If not, you can ask your reserve study professional or a licensed contractor to provide you with estimates. Gathering Necessary Documents and Information A reserve study doesn’t just look at the current physical condition of your community, it also takes into account historical information to get a better sense of where it stands.

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HOA Collection Laws In The U.S. (50 States) For Fair Debt Collection

HOA Managememt

No specific federal law governs collection practices specifically for HOA communities. Most debt collection practices are governed by state law, and your specific homeowner’s associations governing documents tackle the process. In a nutshell, this law governs how these agencies should collect debt and unpaid dues.

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HOA Summer Preparation Checklist: Getting Ready For Warmer Months

HOA Managememt

Service should include: Cleaning vents and ducts Replacing air filters Checking refrigerant levels Testing thermostat settings Inspecting for leaks or worn components For communities where individual homes manage their own HVAC systems, board members can still share seasonal reminders or contractor recommendations with residents.