HOAleader.com - Tip of the Week - October 17, 2025
Published: Fri, 10/17/25
Updated: Wed, 10/22/25
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HOAleader.com - Tip of the Week - October 17, 2025
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In this week's tip, we weigh revenue-generating ideas we've seen to help you avoid big assessment increases.
The big question with each is whether state laws, governing documents, or logistics would permit or prohibit such efforts.
Many clients of Shannon M. McCormick, a Cleveland-based partner and Ohio office chair at Kaman & Cusimano, who has represented condos and HOAs throughout Ohio for about 13 years and who specializes in collections, are looking to find more funds to maintain their communities. “Things are pretty tight right now with inflation and insurance costs,” she says.
True, but a push to generate income gives Melissa S. Doolan, an attorney at The Travis Law Firm in Phoenix, who has represented community associations for the last 15 years, pause.
“Your income comes from your assessments,” she says. “You should be periodically raising your assessments to cover costs because you need to make enough money to pay your bills.”
That's also a point made to clients by Gregory R. Eisinger, a partner at Eisinger Law who represents condos and HOAs throughout the state and who also teaches a course on condo law at Nova Southeastern University, Shepard Broad College of Law, in addition to Florida state-approved condominium and HOA board certification courses.
“The question really revolves around how the association can get income,” he says. “I tell clients that associations shouldn't be in the business of trying to generate income. Of course, try to save when you can, and if you're in a position to earn money, sure. But I have clients doing things like trying to buy stock and purchasing units.
“While some have the ability to buy units in their community, I counsel them not to take risks with other people's money,” says Eisinger. “You're a not-for-profit and shouldn't be in the business of making profits.”
Also remember that your documents will be critical in any attempt you make to rake in more money. “As a nonprofit, associations are very limited in what they can do,” says Thomas W. Chaffee, a partner at O'Toole Rogers LLP in Lafayette, Calif., who, after he became the president of his own HOA, began to focus more on community association work in his legal practice. “For instance, often you can't charge a fee to your members for them to use your common area because they own it.”
Doolan agrees. “I'd have to see what the documents say,” she states. “My concern would be that it's an amenity that owners are entitled to use. You can often charge a damage or security deposit. But owners are entitled to use that amenity unless the documents specifically allow you to charge them for it.”
Fair points. But if you're trying to minimize the pain of assessment increases, are any of these ideas workable and advisable? Here's what our experts say:
1. Renting out amenities—This idea has two variations. The first is adding a charge for your own residents and owners to use your community's amenities. The second is doing the same for outsiders to use your amenities.
Read about both options in our new article: https://www.hoaleader.com/members/5189.cfm
Best regards,
Matt Humphrey
President
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