HOA glossary · S
Self-managed HOA
What is a self-managed HOA?
A self-managed HOA is a homeowners association whose functions are carried out by volunteer members (often those who are elected as directors or other officers). This differs from homeowners associations whose day-to-day oversight and administration are handled by a property management company (PMC). In the self-managed HOA, board members are typically assigned areas of responsibility and execute them either with traditional bookkeeping and communications methods or with the help of software programs that incorporate accounting and communications features with other capabilities tailored to the needs and tasks of the HOA and its community. Such features include billing, integrated banking, payment portals, digital document archives, digital request forms, and calendars, message boards, and texting apps.
Why is a self-managed HOA important?
The distinctions between a self-management HOA and its professionally managed counterpart start with costs. Depending on the tasks assigned and the scale of the community, examples have been found with as much as a $750/month difference in fees for homeowners between self-management and professional management contexts. Self-managed HOAs also tend toward fewer, yet more community-specific, regulations than those under PMCs, and self-management compels property owners to be more engaged with their neighbors than they might under a professional management setting. While challenges and potential pitfalls of self-management have pushed many HOA-governed communities to hire PMCs, software like PayHOA is targeted to the priorities and tasks of HOAs can make self-management a reasonable—even rewarding—approach.
How can you use “self-managed HOA” in a sentence?
A self-managed HOA will almost certainly benefit from the use of HOA-specific management software such as PayHOA.
Related terms
- Property Management CompanyA property management company may be hired by an HOA’s board to take over administrative tasks such as billing and accounting.
- Accounting Software for Homeowner’s AssociationsAccounting software for homeowners associations helps boards pay expenses, collect fees, generate reports and keep homeowners informed.
- Self-managed Condo AssociationA self-managed condo association represents owners of residences (usually apartments) and carries out the tasks necessary for the community’s function.
- Self-Managed HOA SoftwareSelf-managed HOA software is a digital platform that helps volunteer-run communities manage accounting, dues, communication, and voting.
