Robert N. Rosen, CPA

March 9, 2011

With the crash in the housing market in the last 2-1/2 years, the need for good accounting at the condominium and homeowners association level is greater than ever before.
Adequate budgeting for operating expenses and reserve items for major repairs and replacements are more important than ever in making sure the Association is operating effectively from

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What’s the difference between admitted and non-admitted Insurance Companies?

March 9, 2011

By Paul M. Mack, CIC, AAI, CRM
I am often asked by my clients, “what is the rating of this insurance company?”  Financial stability is important and boards should be diligent about selecting a strong carrier.  It is equally important to understand how your carriers are filed to do business.  A Florida admitted, or standard

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Association Assessment Collections

March 9, 2011

by
Michael J Posner
Collections have become a major issue for condominium and homeowners associations. Even the least affected communities have a few delinquent accounts, with some associations having a fifty percent or higher delinquency rate. Collection of delinquent accounts can be difficult and as the old saying goes, you cannot get blood from a stone. However,

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Community Association Collections, Don’t Do This or Else!

March 30, 2010

We have a client that is very mad right now at the declining state of their association, due to the growing list of delinquent unit owners. The association wants us to publish the list of delinquents in the newsletter and post this list on the bulletin board as well. Though we can empathize with the Board of Directors, we suggested to them why we did not think it was a good idea and here are the reasons why:

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Why Do I Have to Live in an Homeowners’ Association?

March 12, 2010

I read every day about people complaining about living in an homeowners’ association. They complain that they are too restrictive, infringe upon their rights, and of all things, that their HOA is illegal! Here are the facts and issues why there are community associations:
Government agencies (counties and municipalities) who provide the approvals to the builders

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10 Ways Your Community Association Can Lower Expenses & Save Now!

February 20, 2010

Due to the poor economy, the foreclosure crisis and a growing amount of owner delinquencies, community associations are considering ways to lower their expenses in ways that would not be considered before. Today, Boards are open to lowering their overhead in creative ways that will lessen the impact of their association receiving lower assessment income.

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7 Habits of Effective Board of Directors in Community Associations

February 6, 2010

Effective board of directors share the following habits and they get things done for their associations. 1. Board of Directors Meetings are for making decisions. Your Board Members and Committee Leaders all understand what decisions have to be made at the meeting.

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Priority of Your Community Association Documents

January 27, 2010

In all community associations, various documents make up and support the structure, governance and operations of the association.  Different sections of the various community association documents should be consistent and support each other. Community association documents are complex and contain a tremendous amount of information that sometimes will contain inconsistencies and may contradict each other.  When

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Is It Time That Your Association Start Marketing Your Community?

January 20, 2010

In today’s ever competitive real estate market, with unrealistically priced homes and rising home inventories, it takes a competitive edge to get homes sold. Is your Association doing everything it can to market your community as a more than desirable place in which to live?

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Cash vs. Accrual Accounting For Community Associations

January 19, 2010

There always seems to be some confusion when it comes to accounting methods. Each method has advantages and disadvantages. Overall, the main differences between the two systems would be the timing of the transactions and when they are recorded. We will review each method of accounting in this article.

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Top 10 Signs Your Community Association is in Financial Trouble

January 15, 2010

Today, now more than ever, community associations are under financial stresses that do not seem to be getting any better. Some associations have been proactive and some have ignored the reality of their situation. The following are the top 10 signs that your association is in financial trouble and needs to take action immediately to

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