The Axela Blog

Financial Management
Axela - The Effect of Rising Inflation on your community budget

Ignoring the Impact of Inflation Can Be Disastrous to Your Community Association Budget

By Bob Gourley / 5 August, 2021

Increases in the Consumer Price Index tell us that inflation is on the rise. Are you accounting for it in your community association budget this year? If you fail to plan, the consequences could be disastrous.

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HOA Lien Foreclosure is so 2008

Condo and HOA Lien / Foreclosures are so 2008

By Mitch Drimmer / 10 June, 2021

The financial crisis of 2008 may have ended, but community associations are still acting like it’s 2008 when it comes to Condo & HOA Lien / Foreclosure.

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dont write off lost assessments

Don’t Write Off Lost Assessments: What To Do When Lenders Foreclose

By Mitch Drimmer / 14 October, 2020

What do you do when lenders foreclose and your condo or HOA is positioned to lose money? Should you write off lost assessments, or is there another option?

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Cash Flow Fable

Safeguarding Your Community’s Cash Flow

By Mitch Drimmer / 1 October, 2020

A perfect cash flow doesn’t have to be a fairy tale. Simply follow the yellow brick road and let the wizards at Axela help!

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Pandemic Impact Community Association Finances

How Has the Pandemic Impacted Your Condominium or HOA Finances?

By Mitch Drimmer / 18 August, 2020

Communities across America are suffering as a result of the COVID Pandemic. Help us see how HOAs and Condo Associations are dealing with the pandemic impact.

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Bad Debt In Community Associations

Why Does Bad Debt Happen In Community Associations?

By Mitch Drimmer / 13 May, 2020

When one homeowner doesn’t pay, the entire community suffers. Bad debt isn’t just the delinquent homeowner’s fault, it’s the board’s too…

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Rent vs. Condo / HOA Assessments

Rent Is Not the Same as HOA Assessments

By Mitch Drimmer / 7 April, 2020

Everybody pays for shelter, whether you own or buy. But is a Condo or HOA Assessment the same as rent? And what happens if you don’t pay your maintenance fees?

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coronavirus, recession, and condos and HOAs

Condos and HOAs in the time of Virus and Recession

By Mitch Drimmer / 17 March, 2020

We’ve been schooled on the benefits of washing our hands, social distancing, etc. What the pundits don’t say is the financial hit communities will endure from a coronavirus recession and how to address it.

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before you buy a condo

Should I buy a condo with a 15% delinquency rate?

By Mitch Drimmer / 10 December, 2019

When buying a new condo, many potential homeowners fail to factor in the financial stability of the association. Delinquency rates can and will affect your family economy.

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How do you know if your association is under water

How Do You Know if Your HOA or Condo is Under Water?

By Mitch Drimmer / 28 November, 2019

Your Community Association could be in financial trouble and you wouldn’t know it until you get slapped with a special assessment. Here’s how to tell…

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What is missing from your budget

Most Boards Forget to Include This in Their Annual Budget [Free Calculator]

By Mitch Drimmer / 7 October, 2019

Don’t forget to incorporate this important factor into your annual budget…

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Lions Tigers and Budgets

Condo and HOA Budget Season

By Mitch Drimmer / 26 August, 2019

Budget season doesn’t have to be scary. Here’s some solid advice to help you prepare your annual budget…

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CondoDelinquenciesCouldPreventFHAApproval

FHA Approval Can Raise Property Values…Don’t let Condo Delinquencies Stand in the Way

By Mitch Drimmer / 30 July, 2019

Your guide to FHA Approval for your condominium association is inside…

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special assessment blues

How to prevent “The Special Assessment Blues” in your Condo or HOA

By Mitch Drimmer / 13 November, 2018

Nobody likes to sing those Special Assessment Blues and a responsible board can avoid it by preparing a correct and proper budget, funding reserves, and addressing delinquency issues.

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budget-time

Condo & HOA Collections In Condo & HOA Budget Time

By Mitch Drimmer / 15 August, 2018

A community association collections solution can save money over legal fees, plus prevent you from needing to write off a bunch of bad debt at the end of the year.

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condos-hoas-dream-or-nightmare

HOAs & Condos…Beautiful Dreams or Horrific Nightmares

By Mitch Drimmer / 19 July, 2018

Buying a unit in a community association can be a wonderful experience, but if you are only looking at the property and not the community’s finances it can quickly turn out to be a nightmare.

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condo-hoa-reserves-advice

Solid Advice On Reserves for your Condo or HOA.

By Mitch Drimmer / 31 May, 2018

Our answers to commonly asked questions that we get from boards of directors regarding reserves

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accurate-ledgers

Are your Community Association Ledgers Accurate?

By Mitch Drimmer / 10 May, 2018

The ability to enforce payments starts with an accurate community association ledger. Lets talk about how you can test your ledgers.

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instant-delinquency-funding

Collections and Instant Funding for Condo and HOA Delinquencies

By Mitch Drimmer / 17 April, 2018

Now, there is a solution for Condo & HOA Delinquencies that will not only recover your past due assessments but provide funding for your collection shortfall.

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How-Units-Settle-Out

Community Association Collections: How Units Settle Out

By Mitch Drimmer / 23 January, 2018

There are six ways a delinquent HOA or Condo unit will settle out. All of these ways are discussed in this article about Community Association Collections Collections.

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