SUPPOSE GOOD at a homeowners association, where to start? Maybe with a word like...prudent? When you have a role managing an association's money, that word -- prudent -- is a good word to have in mind. Taking your role as a steward of your neighbors' money very seriously, diligently keeping your eye on the purse strings.
by Harvey Radin People in government should take field trips to well-run homeowner associations. To experience fiscal responsibility first hand. To see how elected leaders in some homeowner associations -- HOAs -- are actually spending public money prudently and efficiently. Like governments, homeowner associations collect money to fund a host of community needs. Homeowners residing in HOAs pay dues to their association. This is similar in a way to government taxation. So, if there are roads in an HOA property that are not city-maintained streets, a portion of the money homeowners pay in dues may be set aside for the upkeep of these roads. Governments use tax dollars for public parks maintenance. Homeowner associations have what's known as common areas, landscaped parcels of HOA property that are often maintained by the homeowner association. Some HOAs assume responsibility for roof maintenance on homes, and painting maintenance. Some have recreational facilities that are mai...
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