Tagincome

Late Fees and Delinquency in a Condo Association

L

One constant challenge in Condo Associations is the issue of delinquency and debt collection.  Homeowner’s Association or Condo Association fees, also called “general assessments,” are the financial lifeblood of your Association.  While you may have alternate revenue streams, general assessments make up the bulk of your cash flow in.  Without money, you can’t invest in...

Condo Association Finances 101

C

Time for a quick and dirty lesson on Condo Association finances.  There are three things that are the core of Condo finances: income, operating expenses, and reserves.  The goal of every Condo is to have income exceeding expenses and reserves, but not by too much, or you’re overcharging the Owners.  On the other hand, if you run too much of a deficit, you’re likely underfunding reserves, which...

Follow Me

Advertisement

Recent Posts

Categories

Archives