HOA Capital Raising Solutions
Homeowners Association’s (HOA’s) and Condominium Owners Association’s (COA’s) depend primarily on effective management of their cash flow and reserve funds to keep their communities running smoothly. However, there are instances when they do not have the working capital to take on large-scale projects, emergency repairs, or other unexpected expenses that may arise. In these situations, associations must seek out other options for raising capital.
There are three main options available to an HOA/COA when faced with this capital raising challenge. The board could choose to:
- Raise a special assessment
- Raise association dues and try to “save” the money needed over time
- Obtain an HOA loan
The problem with options 1 and 2 above is that they can take a long time to execute, and they can be extremely burdensome to the individual owners. This is exactly why an HOA loan could be the solution to an association’s financial conundrum.
HOA loans allow associations to quickly secure funding for a wide variety of projects and expenses while protecting their reserve funds and avoiding large special assessments. Not only does this allow the HOA to complete all necessary projects in a timely manner, but it also protects the finances of the individual unit owners by spreading the cost over a longer period of time. Many associations turn to our team when they need HOA finance solutions for common area renovations, maintenance, and repairs to keep their properties pristine.
Premier HOA Services to Keep Your Finances in Order
As a leading HOA finance solution firm that partners with management companies, we understand that HOA board members shoulder many responsibilities, and navigating the financial landscape can be extremely challenging without the right guidance. That’s why we designed the company to work for the association, not the bank. We advocate for our clients to obtain the best possible HOA finance solution for your association’s needs.
If you need HOA loans for repairs, renovations, or other large projects, our team can advise you on the qualifications and requirements and work to connect you with suitable lenders. If you’re unsure whether you need a loan, we can help you evaluate your situation and steer you in the right direction using our industry expertise and tools like the HOA loan calculator.
We Partner With Local HOA and Condo Management Companies
Condo owners face many unique challenges, including allocating fees properly to common area improvements, building repairs and maintenance, and complaints from residents. While having access to adequate funding can make life easier for associations, it doesn’t meet all their needs. That’s why we partner with HOA and condo management companies to provide the peace of mind HOA and COA members deserve.
While our team of specialists works to offer the financial guidance your board members need by evaluating your current financial obligations and connecting you with the perfect lenders, we use our relationships with home and condominium association management companies to ensure you receive the assistance you need. No issue or problem is too large or small for our partners offering home and condo management services.
We also rely on our partnerships with condominium association management companies to understand the demands HOA and COA members face. In this way, we can steer clients toward the most fitting HOA finance solutions and financial partners who will be intimate with the problems they are dealing with.
Learn More About Our HOA Finance Solutions
As the largest HOA advisory in the nation, we have the HOA and COA financing solutions you need to successfully manage your association’s budget. Our home and condo services for communities of all sizes ensure effective property management and upkeep. If you’re interested in securing a loan or finding out more information about our HOA loan services, contact us today!