The best-run HOAs have boards that are smart with money. Those boards manage their owners' money with care, and when they have unplanned projects that require additional
funding, they're equally methodical and thoughtful.
What do those boards do that's so smart? They explore every funding option, like drawing on reserves, taking out a loan, or passing a special assessment.
They know the factors to consider when weighing each option and how to present each choice in a way that allows owners to also make educated decisions if they're involved in the decision making. If they run into roadblocks in funding HOA projects, they regroup and try again because they understand their fiduciary duty to operate in the best interest of the HOA, even if the members are reluctant to dig into
their pockets for necessary funding.
Finally, they have a pulse on their reserves so it's always available for that rainy day, even if the HOA has just emerged from a financial storm.
In this special report, you'll discover tips and guidance on funding options from HOAleader.com's expert contributors—professionals who've devoted their careers to serving and advising homeowners associations. Governing documents and state laws vary, but this information will help you understand how your association can meet its financial needs—and thrive.
Best regards,
Matt Humphrey
President
