125 | The Cost of Financial Mistakes for HOAs

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Could one bad financial mistake ruin an entire HOA? Find out!

✅ Is a Reserve Study right for you? 👉 https://www.reservestudy.com/

Robert and Kevin explain the real costs of financial mistakes for HOAs. From missing reserve accounts to late financial reports, they show why every board member must understand their association’s numbers. Topics include transparency, teamwork, building trust, and creating defensible positions when facing owners or lawsuits. Make sure your HOA isn’t prone to financial mistakes that could cost homeowners thousands!

Chapters From Today's Episode:
00:00 Why financial mistakes erode trust in HOAs
02:20 Why every board member must understand financials
06:00 What does it mean to be in a defensible position?
08:15 How small mistakes can snowball without oversight
11:50 Why communication and transparency build trust
14:21 How teamwork keeps boards financially healthy
16:16 What hidden costs come from financial mistakes?
18:54 Ad Break - FiPho Score
19:39 What are the three key roles of every HOA board?
23:39 Why owners demand accurate and timely financials
26:12 How to learn from experts without creating distrust
28:57 What to do when financial reports arrive late or wrong
31:28 Why honesty and openness keep boards protected

The views & opinions expressed in this program are those of the Hosts & Guests, intended to provide general education about the community association industry. The content is not intended to provide specific advice or recommendations for any individual or organization. Please seek advice from licensed professionals.

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