Q: May a North Carolina homeowners’ association (HOA) impose a surcharge on units that are rented out by a homeowner? Our HOA has proposed a fee of $25 per month to be assessed against all rental properties. HOAs only have whatever authority is granted to them under the North Carolina laws and the HOA’s governing […]

Note:  This question was answered by my colleague, CPA Gail Pizetoski of Condo-Smart.com and CondoHOACPA.com. Q: My husband is on the board of our HOA, and for the past two years our manager has said we have to file tax returns for the HOA. Our only income is from the assessments, plus a few dollars […]

Well….that depends, but probably not. I’ve gathered from my ramblings in and around the residential and resort communities of North Carolina that it has become progressively en vogue to own an electric golf cart to be used as an additional form of transportation. These ‘home’ golf carts are used for everything from the obvious like […]

Q:  What can homeowners do when their HOA (homeowners’ association) board is not following its own bylaws, which in this case require an annual audit performed by an accountant? Only accounting “compilations” have been done in the past, even though the budget line item for the expense says “auditing fees.” Also, final year-end financial statements […]