5 Points About the HOA Reserves

Reserves are a crucial aspect of all HOAs.   1 – The Internal Revenue Service considers general maintenance items not appropriate use of Reserve funds. For example painting may not qualify as a Reserve item.   2 – Reserves have to be allocated for a specific purpose. Contingency Reserves, General Reserves, Rainy Day Reserves could…

HOA Retention Ponds Don’ts

DO NOT mow detention pond too close to the surface; height should be 4 to 6 inches to maintain healthy grasses.   DO NOT apply landscaping chemicals in pond area, or in areas where the residue could make it into the pond during a storm event.     William Douglas Management, providing excellent management services…

HOA Pet Safety

Most HOA rules and regulations address members not restraining their dog. And boards use the enforcement provisions in the declarations or state statutes to hold members who violate the rules and regulations accountable. Another compliance strategy could be informing members that according to the American Humane Society, an unleashed dog has an average life span…

French Drain

HOA boards are routinely faced with drainage issues and seek effective solutions. One of the most common and effective solutions is the French drain. A French drain is basically a ditch lined with rocks or gravel that helps drain water away from an area. It is used to protect the foundation of a house or…

The Year-End & the HOA’s Financials

This time of year, William Douglas’ Accounting Department is in high gear preparing for our clients’ financial year-end along with getting dues payment coupons out for the coming fiscal year. A great deal of focus is on closing the year-end books.   One aspect that makes HOA’s financials different is that corporation tax returns, in…

Winterizing Checklist for HOA Members

Winterizing is the process that every HOA member should undertake to make their home ready for winter. Freezing temperatures, ice, snow and wind can cause severe damage to a home.   Frozen Pipes Plumbing may be located in the outer walls of a home so it may be exposed to colder air than what is…