HOA Financial Reports

Monthly HOA financial reports are required by the Board every accounting cycle, whether it be quarterly or biannually. There is a ton of information out there for board members to help them understand how to state questions to ensure that HOA financial reports are correct. However, some members find it difficult to know which questions to ask in order to make sure everything is correct before giving it to the Board. Snap Collections is here to offer you advice and a checklist to ensure pristine HOA financial reports each month.

Super Priority Lien Cases

In the last week my phone has been ringing off the hook and my e-mail inbox has been stuffed with questions about two recent cases coming out of a DC Court of Appeal and a Nevada Supreme Court decision.  In both of these cases it seems as if the courts have ruled that a community association with a superlien can wipe out a bank in a foreclosure action.

Accord and Satisfaction Decision

Early in August 2014, the Second District Court of Appeals of Florida (the “Appellate Court”) issued an important decision that may impact your community association’s practices as the decision relates to the acceptance of a unit owner payment accompanied by a restrictive endorsement.

With September upon us its back to school for millions of American children, and by law they are required to either attend school or prove that they are being properly home schooled.  In a very similar parallel the law in Florida requires that board members of HOAs and Condos attest in writing that they have read the governing documents of their community associations or attend a two hour board certification class.  Both students and board members must either prove that they have gone to school or done their reading.