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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? All three of these play a role in keeping the association running smoothly and protecting the community’s finances.

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6 Property Management Tax Mistakes: Are You Making Them?

Buildium

You have to keep your money separate from your owners, and youll need a trust account to handle tenants security deposits, all of which is regulated by the state in which you operate. Mistake #4: Keeping Inaccurate Accounting Records Weve heard it so many times from property managers.

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Marketing an HOA management company: What to focus on plus 8 strategies to keep and win clients

Buildium

Collecting Dues and Fees First and foremost, HOA board members want community managers to streamline the collection of dues and fees for them. Using an online payment platform can help you cut down payment processing times by as much as 70%, manage recurring payments, and help you deposit funds directly into the associations bank account.

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Hosting 301: Airbnb as a Business

MaidThis

This could include getting any necessary permits and licenses and following local regulations and laws. Keep in mind things like property taxes, that insurance we mentioned, maintenance costs, potential downtimes during off-seasons, and more. You also need to have a good handle on insurance and all that goes into it.

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Making Money in Multifamily: Tips and Tricks for Smart Investors

American Apartment Owners Association

LEARN MORE Leveraging Technology In today’s digital age, technology can streamline property management make sure to hire a PM that uses Tech to your advantage: Property Management Software: Use software to keep track of finances, lease agreements, and maintenance requests efficiently.

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Top Airbnb Hosting Mistakes to Avoid

Thanks For Visiting

Click here to grab everything you need to curate your property and start earning 5-star reviews. Understanding Local Regulations Zoning regulations are crucial for your Airbnb venture. Imagine buying a property where short-term rentals are prohibited. Know how local regulations impact your rental.

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Evaluating renovations: Which upgrades offer the best ROI for multifamily apartments

MRI Software

Clearly defining the extent of the work helps you manage costs and prioritize essential improvements. Local building codes and regulations Local building codes and regulations can affect your renovation costs as well. Understanding the costs to renovate a multifamily property is essential for planning your budget.