Year-End Closing Preparations

By: Tarra Eshgh, CMCA®, AMS®, PCAM® ST&R Portfolio Management

As we approach the end of 2024—just three months away—our management company and accounting department are diligently preparing for year-end closing. We have compiled a checklist to ensure that all items are addressed efficiently. Key items include:
 

1. Closing Open/Pending Maintenance Items: Begin finalizing any maintenance items scheduled for completion this year.
2. Approved Budget Notification: During the first week of December, we will notify communities regarding any changes to HOA dues/assessments effective January 1st.
3. Mailing Orders for Coupon Booklets/Statements: If utilizing a third-party mailing service, orders for coupon booklets or statements for HOA dues/assessments should be placed by the second week of December. This will ensure homeowners receive their materials before the holidays and can prepare for the new year.

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