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Understanding HOA finances: A practical guide for association managers

Buildium

One of the biggest responsibilities you’ll have as an association manager is keeping your HOA’s finances in good shape. In this guide, we give you the full HOA finances picture. What are HOA Finances? Finances are the backbone of any association, and managing them well is a large part of protecting a community’s longevity.

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Minimizing Investment Risks in Multifamily Real Estate

American Apartment Owners Association

Implementproactive maintenancestrategies and legal compliance measures to control costs and legal liabilities. Ensure legal compliance to mitigate risks. Another important element of due diligence is evaluating theproperty’s maintenance and legal compliance. Diversify your portfolio strategically to spread risks.

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6 Property Management Tax Mistakes: Are You Making Them?

Buildium

Legal and Professional Expenses You can deduct fees paid to attorneys, accountants, consultants, and other professionals for any work related to your business. Every property management tax mistake is, at best, a missed opportunity to save money and, at worst, a potential compliance issue.

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Building Your Colorado Springs Dream Team: Essential Professionals for Investors

Muldoon Associates

Additionally, they ensure compliance with local landlord-tenant laws, minimizing your legal risks. Lenders facilitate access to various financing options that cater to different investment strategies and property types. If you have to evict a tenant or you need to have a lease reviewed, your attorney can help.

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Dealing with Difficult Tenants: When and How to Enforce Eviction Procedures

Real Property Management Evertrust

Unclear Lease Terms Another rookie mistake is not having a solid, legally binding lease agreement that clearly outlines tenant expectations, rent payment dates, and consequences for non-compliance. When to Enforce Eviction Procedures Eviction is a last resort, but sometimes it’s necessary to protect your property and finances.

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How to Buy Multiple Rental Properties at Once as a Short-Term Rental Host

Host Tools

Financing Multiple Rental Properties Buying multiple properties at once can require substantial capital, but there are several financing routes to explore: 1. Portfolio loans A portfolio loan allows you to finance multiple rental properties under a single loan. This can be a practical option for large-scale purchases.

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The Top 10 Mistakes Colorado Springs Property Owners Make (And How to Avoid Them)

Muldoon Associates

Have an attorney or a Colorado Springs property manager review your lease to ensure it complies with local laws. Implementing Compliance Procedures. Take a look at some of the technology that’s available to help you manage your finances when it comes to investment properties. Avoid legal missteps by: Staying Informed.