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037 | Avoiding HOA Fraud
Manage episode 396836382 series 3470637
Learn to detect and prevent HOA fraud with these key steps. Safeguard your association’s funds and inspire transparency among your community!
❗Join our LIVE Podcast April 1st 2024 on Youtube! 👉 https://www.youtube.com/watch?v=24KbKsKyoNY
✅ Is a Reserve Study right for you? 👉 https://www.reservestudy.com/
In this episode, we break into the complexities of HOA fraud and prevention methods. Join experts Russell Munz and Robert Nordlund as they discuss the fine line between cost-saving and fraud, emphasizing transparency in reserve accounts. Learn about the common fraud methods within community associations, from forged checks to financial mismanagement by companies and vendors. Discover the key steps for HOA board members to establish checks and balances, including financial reporting, proper bidding processes, and regular audits. As a bonus, we’ll cover the importance of homeowner involvement in financial oversight.
Chapters from today's episode: Avoiding HOA Fraud
00:00 Intro to Avoiding HOA Fraud
02:38 How Much Money to Hold in Operating Account
04:38 Is Fraud a Real Concern for HOA Reserves?
07:06 How Fraud is Usually Done
12:22 Is Pretty Cash an Issue?
13:28 Can Zelle or Venmo Be Used?
15:42 “Innocent” Forms of HOA Fraud
17:25 What To Do As a Homeowner If You Suspect Fraud
18:50 Should Multiple People Have Access?
19:45 Spotting Fraud in Your HOA
23:15 Does a homeowner Have a Right to Ask for Reports?
27:02 Should Financial Info Be Sent Monthly?
28:36 Tips for Financial Management
Podcast Links:
Full Episode List
Watch On Youtube
Engage in the conversation!
Call our 24/7 voicemail line at (805) 203-3130 or send an email or voice memo to podcast@reservestudy.com
Nominate yourself or a Board Hero you Know!
Board Hero Nominations
Shop!
HOA insights now has its very own merch store! Our team has whipped up some hats, mugs, T-Shirts, & more that we think Volunteer HOA Boardmembers are gonna love. We also offer dozens of FREE zoom backgrounds. Available in our Boardmember Merch Store!
Connect with Hosts on LinkedIn
Julie Adamen
https://www.linkedin.com/in/julieadamen/
Kevin Davis, CIRMS
https://www.linkedin.com/in/kevin-davis-98105a12/
Robert Nordlund, PE
https://www.linkedin.com/in/robert-nordlund-pe-rs-5119636/
Support Our Sponsors
Association Insights & Marketplace
https://www....
Capítulos
1. Intro to Avoiding HOA Fraud (00:00:00)
2. How Much Money to Hold in Operating Acct (00:02:38)
3. Is Fraud a Real Concern for HOA Reserves? (00:04:38)
4. How Fraud is Usually Done (00:07:06)
5. Is Pretty Cash an Issue? (00:12:22)
6. Can Zelle or Venmo Be Used? (00:13:28)
7. “Innocent” Forms of HOA Fraud (00:15:42)
8. What To Do As a Homeowner If You Suspect Fraud (00:17:25)
9. Should Multiple People Have Access? (00:18:50)
10. Spotting Fraud in Your HOA (00:19:45)
11. Does a homeowner Have a Right to Ask for Reports? (00:23:15)
12. Should Financial Info Be Sent Monthly? (00:27:02)
13. Tips for Financial Management (00:28:36)
71 episódios
Manage episode 396836382 series 3470637
Learn to detect and prevent HOA fraud with these key steps. Safeguard your association’s funds and inspire transparency among your community!
❗Join our LIVE Podcast April 1st 2024 on Youtube! 👉 https://www.youtube.com/watch?v=24KbKsKyoNY
✅ Is a Reserve Study right for you? 👉 https://www.reservestudy.com/
In this episode, we break into the complexities of HOA fraud and prevention methods. Join experts Russell Munz and Robert Nordlund as they discuss the fine line between cost-saving and fraud, emphasizing transparency in reserve accounts. Learn about the common fraud methods within community associations, from forged checks to financial mismanagement by companies and vendors. Discover the key steps for HOA board members to establish checks and balances, including financial reporting, proper bidding processes, and regular audits. As a bonus, we’ll cover the importance of homeowner involvement in financial oversight.
Chapters from today's episode: Avoiding HOA Fraud
00:00 Intro to Avoiding HOA Fraud
02:38 How Much Money to Hold in Operating Account
04:38 Is Fraud a Real Concern for HOA Reserves?
07:06 How Fraud is Usually Done
12:22 Is Pretty Cash an Issue?
13:28 Can Zelle or Venmo Be Used?
15:42 “Innocent” Forms of HOA Fraud
17:25 What To Do As a Homeowner If You Suspect Fraud
18:50 Should Multiple People Have Access?
19:45 Spotting Fraud in Your HOA
23:15 Does a homeowner Have a Right to Ask for Reports?
27:02 Should Financial Info Be Sent Monthly?
28:36 Tips for Financial Management
Podcast Links:
Full Episode List
Watch On Youtube
Engage in the conversation!
Call our 24/7 voicemail line at (805) 203-3130 or send an email or voice memo to podcast@reservestudy.com
Nominate yourself or a Board Hero you Know!
Board Hero Nominations
Shop!
HOA insights now has its very own merch store! Our team has whipped up some hats, mugs, T-Shirts, & more that we think Volunteer HOA Boardmembers are gonna love. We also offer dozens of FREE zoom backgrounds. Available in our Boardmember Merch Store!
Connect with Hosts on LinkedIn
Julie Adamen
https://www.linkedin.com/in/julieadamen/
Kevin Davis, CIRMS
https://www.linkedin.com/in/kevin-davis-98105a12/
Robert Nordlund, PE
https://www.linkedin.com/in/robert-nordlund-pe-rs-5119636/
Support Our Sponsors
Association Insights & Marketplace
https://www....
Capítulos
1. Intro to Avoiding HOA Fraud (00:00:00)
2. How Much Money to Hold in Operating Acct (00:02:38)
3. Is Fraud a Real Concern for HOA Reserves? (00:04:38)
4. How Fraud is Usually Done (00:07:06)
5. Is Pretty Cash an Issue? (00:12:22)
6. Can Zelle or Venmo Be Used? (00:13:28)
7. “Innocent” Forms of HOA Fraud (00:15:42)
8. What To Do As a Homeowner If You Suspect Fraud (00:17:25)
9. Should Multiple People Have Access? (00:18:50)
10. Spotting Fraud in Your HOA (00:19:45)
11. Does a homeowner Have a Right to Ask for Reports? (00:23:15)
12. Should Financial Info Be Sent Monthly? (00:27:02)
13. Tips for Financial Management (00:28:36)
71 episódios
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