HOA budgeting is a crucial process that takes place between June and August each year, setting the stage for financial planning and decision-making in the upcoming period. At Atlantic & Pacific Management, we believe in empowering HOAs with effective budgeting strategies. In this blog, we will walk you through the essential steps involved in creating […]
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Stay Compliant: Preparing Your HOA for the New Balcony Inspection Law
As of January 1, 2020, a new law mandates that associations with buildings containing three or more units must conduct inspections on load-bearing structures, including balconies and other external elements. These inspections are crucial to ensure compliance with updated codes and identify any potential structural issues. We have provided an overview of the requirements set […]
Read MoreThe Essential Guide to Outdoor Amenities Inspections for HOAs
Homeowners Associations (HOAs) play a vital role in maintaining the quality and aesthetics of residential communities. Part of the responsibility is to ensure that outdoor amenities, such as parks, swimming pools, and playgrounds, are well-maintained and safe for residents to enjoy. This is achieved through regular inspections. Let’s dive into the rules and procedures governing […]
Read MoreThe Role of HOA Board of Elections: Ensuring Fairness and Transparency
Homeowners associations (HOAs) are an integral part of many communities, and the decisions made by their board of directors have a significant impact on the community as a whole. Among these decisions, the election of new board members holds immense importance. The HOA board of elections plays a critical role in ensuring a fair and […]
Read MorePlanning and Conducting an HOA Annual Meeting for Membership: A Step-by-Step Guide
Being a part of a Homeowners Association (HOA) comes with responsibilities, one of which is attending the annual meeting for membership. The annual meeting is a crucial event where members come together to receive updates, discuss community matters, and make decisions that affect the neighborhood. If you’re a member of an HOA board or part […]
Read MoreThe Importance of Annual Reserve Studies
Financial health is vital in all aspects of a homeowner’s association (HOA) to thrive. For that reason, associations should have two major financial accounts, one would be the primary operating fund and the other would be the reserve fund. WHAT IS A RESERVE FUND, AND WHY IS IT NECESSARY? Operating funds are created to handle […]
Read More2023 Financial Preparations for HOA Communities
For HOA communities, the beginning of the year is an important time for planning. In order to set your community up for success, there are several things you can do this month to ensure your checklist is updated and your financials are in order. Here are a few noteworthy items to consider tackling in February: […]
Read More2023 HOA Changes
This year, there will be a few important changes to HOA legislation. Following the passage of AB 1410, which was signed into law by Governor Gavin Newson on September 30, we will see the regulations outlined in this bill become effective at the beginning of 2023. AB 1410 addresses issues that arose from certain isolated […]
Read MoreClosing Out End-of-Year HOA Bills
As the year comes to a close, there are several tasks that need to be completed, including closing out the books for 2021. This year-end accounting encompasses processing financial documents, balancing ledgers, and reconciling accounts, which are all important factors that can negatively impact your association’s financial standing in the new year if not properly […]
Read MoreFinalizing Your 2023 Budget and Preparing for Annual Review
As we head into November, the new year draws nearer each day. For an HOA community, that means that the countdown has begun to finalize your budget for the upcoming fiscal year and prepare for your organization’s annual review. One of the key responsibilities of an HOA board is to effectively and responsibly manage the […]
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