ACCOUNT FOR
INFLATION
To create a suitable budget, boards
need to have a finger on the pulse of
the current inflation rate. When the
board fails to predict expenses and
inflation rates accurately, regular HOA
assessments might not be enough to
reconcile the budget, and you may be
forced to find funds elsewhere. Always
monitor the inflation rate and budget with
realistic, inflation-adjusted projections to
evade shortfalls.
CONNECT WITH
YOUR HOA
INSURANCE
PROVIDER
Depending on several factors, HOA
insurance costs can experience sharp
and immediate increases. Talk to your
HOA insurance provider to discuss any
potential rise in premiums or any other
insurance cost-saving measures your
HOA can explore. Properly budgeting for
insurance price fluctuations can prevent
you from levying a special assessment or
neglecting other crucial budgeting items.
08
6
5
4
3
7
8
9
10
2
