Posts Tagged ‘self managed hoa’

A self-managed HOA has many important responsibilities to contend with. Between managing finances, keeping up with community needs, and communicating with homeowners, a self-managed association will have their hands full. Yet self-management can be a rewarding and enriching experience with the right tools, such as HOA accounting software—and the right approach. It will also potentially…

A self managed HOA can seem like a time-consuming uphill battle if you haven’t done it before. Property management companies often convince HOAs that their business experience saves the community time and money while simultaneously improving the neighborhood. While some neighborhoods may require the resources of a large company, for many HOAs the services of…

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…

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…

There are many reasons to transition to a self managed HOA. Your third-party management company may not be meeting your association’s needs. They may be a bad fit for your community. Or maybe you’ve weighed the cost versus benefit of paying tens of thousands of dollars in unit fees and other expenses your property manager…

Self managed HOAs and the volunteers who run them have a lot on their plate. Between pursuing new projects, keeping up with collections, and building reserves, it can be difficult for HOAs to raise their nose from the grindstone and re-evaluate key documents and contracts that may cause bigger issues down the road.  Self managed…

Every successful homeowners association has one thing in common: how well they understand and follow their governing documents. For a self managed HOA, these documents play a critical role in the daily decisions made in managing a community. The main documents governing an HOA and its residents include: ·        Covenants, Conditions, &…

For self managed HOAs, the power to bring new home buyers into the community is in your hands. With a younger demographic of tech-savvy Millennials interested in buying homes in the suburbs, how you attract new homeowners is more important than ever. After all, this newer generation of buyers is doing their real estate research…