Board members of homeowners and condo associations are responsible for a number of improvement projects in the community. Even if they had established a reserve fund, they might find themselves in a situation where they don’t have enough capital to cover necessary repairs or remodels. Now, they have to decide how to raise money.
In an article we wrote for HOA Management, we explain the drawbacks of raising a special assessment and share how an HOA loan could be a great way to collect additional funds for projects. Read the article here to learn more.