Blog Articles
4 Myths About Becoming a Self Managed HOA
A self managed HOA may seem daunting at first, especially for communities that have previously relied on property management companies. These companies often bring valuable expertise and can offer convenience and structure, making them a suitable option for many neighborhoods. However, for some HOAs, self-management can be a highly rewarding alternative. For those HOAs, self…
Read MoreCreating a Maintenance Chart for Your HOA
Homeowners associations (HOAs) may spend a fair amount of time taking and completing maintenance requests. Maintenance is an essential part of HOA management, in terms of keeping a well-maintained community and providing value. It keeps current residents happy and helps preserve your neighborhood’s curb appeal for potential residents. Yet for self managed associations, HOA management…
Read MoreUsing HOA Management Software to Reconcile Bank Accounts
Overseeing the finances of your self managed HOA is one of the most time consuming and detail oriented responsibilities necessary to keep your organization afloat. Reconciling your HOA’s bank account comprises an important part of supervising the organization’s finances. Performing a regular bank reconciliation will benefit your HOA by checking the accuracy of its financial…
Read MoreShopping For HOA Accounting Software? 4 Things to Look For
Many associations have started to realize the benefits of self-management and are making the switch. Statistics show that in recent years, 30% to 40% of HOAs have made the transition to self-management. Self-managed HOAs often save tens of thousands of dollars per year on the cost of third-party management fees. Self-managing means volunteers will handle…
Read MoreExcel vs. HOA Accounting Software to Manage Your HOA
If your association is considering the switch to using HOA accounting software, it’s important to compare this to other common HOA management tools. Generally, self managed HOAs who don’t use HOA software end up wasting time and energy switching between different outdated tools to accomplish different tasks. Whereas, HOA software lets you streamline a variety…
Read More5 Ways to Improve Financial Stability with Homeowners Association Software
An HOA’s financial health is critical to its success and reputation within the community. Because of this, one of the primary responsibilities of HOA management is to provide a promising financial future for the homeowners. Homeowners association software helps an HOA build toward a prosperous tomorrow by maintaining a clear focus on the organization’s financial…
Read MoreFees, Penalties, and Increases: Breaking the Bad News to HOA Members
Your self managed HOA will inevitably encounter some unpleasant situations throughout the year. Delivering any kind of undesirable information without careful consideration can increase the tension between the HOA and homeowners. While each HOA must navigate rule enforcement, penalties, and increases to dues and fees in their own way, there are some best practices to…
Read MoreClosing out 2021 Successfully: End of Year Tasks and Closing the Books
The holidays are a time for loved ones, not hunching over accounting ledgers like a Charles Dickens character. Yet good HOA community management practices include certain year-end accounting tasks, such as processing financial documents, reconciling accounts, and balancing your ledger. All of this is important and can impact your association’s finances in the new year…
Read MoreFeatures You Need in HOA Management Accounting
While many HOAs implement various software solutions to manage the financial aspect of their organization, only HOA accounting software provides a holistic solution that goes far beyond bookkeeping. Running an HOA is a nuanced endeavor requiring top-notch organization that most accounting software is unable to accommodate. Too often, HOAs rely on a hodge-podge of general…
Read MoreHOA Community Management Success Stories
HOA Management Success Stories HOAs (as well as the board and homeowners) usually expect to accomplish a lot each year. A balanced budget, idyllic surroundings, and a warm community are just a few things all involved parties wish to gain from successful HOA management. With so many differing opinions and desires projected onto the HOA,…
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