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WSW HOA
Level 1

Reimbursing start-up cost with an HOA

I have a new homeowners' association being started on existing homes this is not a new development.

We have one of the homeowners that has been cover all the expense of starting up the HOA. Now all the homeowners have agreed to reimburse him for these expenses. 

1. So the question is should the HOA be collecting the money for reimbursing this individual or should he do it on his own?

2. If the HOA needs to be collecting this how should it be entered into QB online?

 

Thanks

1 Comment 1
Rustler
Level 15

Reimbursing start-up cost with an HOA

Either way works.

But if it were me I would want the HOA to handle it. The HOA would invoice the rest of the homeowners for their portion and then pay it out to the original homeowner as an expense

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