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How to Handle Increasing Member Assessments
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Having a proper, fiscally responsible budget in place is necessary for the successful operation of any homeowner’s association. Just as with any budget, income and expenses must be considered - for an HOA, this income mainly comes in the form of owner assessments. When projecting yearly expenses for an association, those serving on ...
Making Meetings Count: How to Reach a Quorum Through Proxies
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Annual and special meetings require homeowner votes for new board members, assessment increases, capital improvement projects, and amendments to the association’s governing documents. The goal is to reach a quorum—a minimum number of members who must be present for business to be validly transacted.Some community associations ...
When Your Association Should Consider a Buydown Policy
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Insurance coverage is one of the many important aspects of managing and protecting community assets that HOA boards of directors must keep in mind. If associations are faced with large deductibles, one option to consider is a buydown deductible policy. Buydown insurance policies can sometimes prove to be a great benefit to homeowner&rsquo...
Two Pairs of Eyes are Better Than One: Why Community Associations and Developers Should Have Separat...
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North Carolina has the third most planned communities in the United States after California and Florida. All of these planned communities typically evolve in a similar three-step process. First, a real estate developer ("Developer") purchases the land and records a set of governing documents that establish a regime of rules and ...
Crunching Numbers: What Goes Into a Community Association’s Budget?
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Budgets are crucial to a community association’s financial operation. Just like for-profit businesses, association boards should work diligently to develop annual budgets that estimate revenue and expenses for the upcoming fiscal year. A properly drafted budget can help prevent reduced services, deteriorating property, or special as...
What to do if There are Insufficient Reserve Funds
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What are reserve funds and what are they used for? Reserve funds are broken down into capital and non-capital expenses; capital would be replacing a roof; non-capital would be painting. These are IRS terms really, but for HOAs reserves are in general a savings account saving up to take care of long-term repairs and replacement &mdash...
How to Increase Homeowner Participation in Your Community
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Homeowners can often have differing views of their community associations — some positive, some negative —  depending on their source of information and experiences in the community. New homeowners that buy a home that has an HOA may not fully understand the positive impact the association can have on their experience liv...
New Appellate Case: Is Your Architectural Process Fair and Reasonable? (Hint: It Better Be!)
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In a decision issued today (December 17, 2019), the North Carolina Court of Appeals examined the authority of an association to review and deny submitted architectural plans. This is the second architectural committee decision from the Court of Appeals this year. (See “Don’t Screw Up Your Architectural Committee and Approval P...
When And How To Make Changes To Your Association's Governing Documents
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At CAMS, we’ve seen through the years how positive — and necessary — change can be for homeowner’s associations (HOAs). Generally, we recommend every association do what we would call a governing document audit every 7 to 10 years just as a general rule because laws change, and it’s nice to have things clear ...
Tax Season: What Your HOA Should Know
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Tax season isn’t just a fun time for residents and businesses in North Carolina, it’s also a big piece of the financial puzzle for homeowners associations (HOAs). As complicated as federal and state income taxes may seem to everybody else, they can also provide some twists and turns for HOA board members and are something that...

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