IRS Form 1120 H vs. 1120: Choosing The Right Filing For Your HOA
When it comes to filing taxes for a community association, IRS Form 1120 H is usually the form that comes to mind. But not everyone knows what it is, when to use it, or how it compares to the regular corporate tax form. Filing taxes may not be the most exciting part of running an […]
HOA Income: The Top Sources Of Revenue For Associations
HOA income is critical to maintaining community finances. Whether it’s a homeowners association or a condo association, both need steady revenue to pay for maintenance, utilities, insurance, and reserves. Without a reliable income, boards will struggle to meet their obligations. Common Ways Associations Earn HOA Income Associations function in much the same way as […]
Can The HOA Earn Profits From Dues And Other Income Sources?
Can the HOA earn profits from the money it collects? It’s a question many homeowners and even board members ask. While everyone knows the association collects dues and other payments, there is less clarity about what happens when more money comes in than goes out. Can the HOA Earn Profits? At its core, a […]
HOA Grievance Committee: Their Role In An Association
The HOA grievance committee plays a vital role in many communities, even if its purpose is not always understood at first glance. When it comes to handling homeowner disputes, complaints, or conflicts with the board, the grievance committee often serves as the channel to ensure fairness and transparency. What is an HOA Grievance Committee? […]
What Is A HOA Board Resolution? Why Is It Important?
An HOA board resolution can help associations make decisions in an organized and enforceable way. These resolutions outline how the board manages a community. They also clarify the responsibilities of both the board and homeowners. Without them, board actions can lack consistency and transparency. What is an HOA Board Resolution? A board resolution is […]
HOA Debt Collection: What’s Legal And Frequently Asked Questions
One of the most challenging responsibilities that associations can face is HOA debt collection. In Virginia, both homeowners associations and condominium associations must follow strict laws when collecting unpaid fees. The Importance of HOA Debt Collection Debt collection in associations is not about punishing residents. It is about keeping the community running smoothly. Associations […]
HOA Reserve Funds: Requirements And Limitations In Virginia
Reserve funds play a crucial role in keeping homeowners associations financially healthy and prepared for the future. In Virginia, state laws outline specific requirements for how associations must handle these funds. Both board members and homeowners need to understand these rules. What are Reserve Funds? To understand reserve funds, it helps first to see […]
HOA Parking Rules: Street Parking, City Streets, And Homeowner Rights
HOA parking rules are some of the most debated issues in community associations. Parking spaces are often limited, leading to disagreements when residents or guests fail to follow the rules. With clear policies, an association can help prevent conflicts. Are HOA Parking Rules Legal and Enforceable? One of the most common HOA parking issues […]
How To Manage Noise Complaints In HOAs Without Escalating Conflict
Noise complaints in HOAs are quite common. Associations try to regulate noise to minimize its negative effects on the community, but managing noise is trickier than boards think. It takes communication, proper enforcement, and a clear noise policy. Understanding Noise Complaints in HOAs Homeowners associations are admired for their convenience, wide range of amenities, […]
HOA Foreclosure In Virginia: Can A HOA Board Take Homes?
Board members and homeowners must familiarize themselves with the process for HOA foreclosure in Virginia. In doing so, board members can follow due process and protect the association from liability. Meanwhile, homeowners can understand their rights and preserve them. HOA Foreclosure in Virginia: Is This Legal? Homeowners associations collect regular dues or assessments from […]