What penalties are there if an HOA is underfunded? We are at 50%.
Does New Jersey state law require an audit? We send out monthly statements of Operating & Reserve accounts. An audit seems a waste of funds.
Can our HOA change its fiscal year from July to January?
Our condo association has never paid taxes. Should we be paying?
I am the owner of 2 unit condo. I have tried to refi the lower rental unit into a 15 or 30 year fixed mortgage. I am always told I can not do that because I own both units.
What percentage of money should ideally be kept in the reserves ? Also what happens when the whole board resigns?
Can a condo President use reserves or funds from anywhere to put a new roof on his house and a new sidewalk?
I need to open a bank account for my condo association and we need a Tax ID number. Which type do I file for on the IRS website? Also, will the account be associated with my own personal social security number? How does that work? Thank you!
Can we adjust a line item in our condo budget without a vote
Does condo association or HOA need to file federal taxes annual to keep nonprofit status