Category: General

What Not To Do When You Receive Communications From Your HOA Board

Posted: September 20th, 2019 | Categories:

As the manager for homeowner associations (HOAs), it’s important to develop a good relationship with your client’s board. The HOA board is the association’s leadership, setting its policies and community guidelines. Association boards are made up of members who live in the community and oversee its direction, however, most board members also have full-time jobs separate from their role in the HOA. As the HOA manager, it’s your job to handle the tasks and projects they don’t have time for. Because you’ll be working very closely with a client’s board, communication is key. Get to know the people who sit … Continue reading

What NOT To Do When Collecting HOA Fees

Posted: September 20th, 2019 | Categories:

When you manage a homeowner association (HOA), collecting fees is an important part of your job. The fees paid by residents to pay the bills and help to create a reserve fund for the HOA, which allows the association to pay for the community’s upkeep, renovations, and amenities. Established by the HOA’s board members, association fees may be collected annually, quarterly or monthly; there may be special assessments from time to time. When it’s time for you to collect HOA fees for your clients, there are several “Do’s” and “Don’ts” you should follow to ensure a successful transaction. In many … Continue reading

How To Handle HOA Violations

Posted: September 20th, 2019 | Categories:

As a homeowner association (HOA) manager, part of your job includes handling CC&R violations. HOAs provide residents with many great benefits, providing community guidelines that make the association’s neighborhood a peaceful, desirable place to live. Unfortunately, as with any organization that has rules, there will always be violations from time to time. The best association managers know how to handle HOA violations for their clients. You can make your services even more valuable to your clients by helping their associations enforce the community’s rules. When someone defies the association’s guidelines, address the transgression promptly and help the HOA board apply … Continue reading

How Accounting Is Useful When Managing HOAs

Posted: September 20th, 2019 | Categories:

When you manage a homeowner association (HOA), you have many important responsibilities. Your clients depend on you to create a thriving, successful community for every resident living in the association neighborhood. As part of the logistical support you provide, financial knowledge plays a key role. Accounting knowledge is very useful when managing HOAs. Although you don’t need to be a CPA to be a successful HOA manager, understanding accounting concepts will help you do your job more efficiently. You’ll be able to assist your HOA clients with day-to-day accounting tasks as well as big-picture projects, such as audits and budgeting. … Continue reading

10 Questions An HOA Should Ask Before The End Of The Year

Posted: September 20th, 2019 | Categories:

Running a homeowner association (HOA) is just like running a business. With projects to execute, budgets to balance, and standards to maintain, an HOA requires a lot of time and energy. That’s why your role as an association manager makes such an important impact on your clients. As an HOA manager, you can help your clients with everything they need for a successful association. Like any organization, the end of the year means that it’s time for HOAs to settle their business affairs and prepare for next year’s endeavors. As an association manager, you can use your professional knowledge and … Continue reading

Expense Management Tips For Association Managers

Posted: August 12th, 2019 | Categories:

When you manage a homeowner association (HOA) or condominium association (COA), you have many responsibilities. One of your key roles is helping your clients’ HOA/COAs stay fiscally healthy. Expense management tips for association managers can help your business run more smoothly. Whether you’re managing a big HOA or a smaller COA, be prepared to handle a lot of financial transactions. You’ll be responsible for collecting resident fees, paying bills, completing invoices for work orders, and more. As an HOA/COA manager, it’s also your job to balance your clients’ books. You need to make sure the association stays within its monthly … Continue reading

The #1 Problem Homeowner Associations Have With Management Companies

Posted: August 12th, 2019 | Categories:

What’s the number one problem homeowner associations (HOAs) have with management companies? Most HOAs agree that the biggest problem with management companies is poor customer service and communication. As an association manager, it’s important to understand your clients’ needs. Learn how bad management companies affect HOAs so you can avoid making the same mistakes. Managing HOA accounts requires hard work, dedication, and organization. You’re responsible for multiple daily tasks for your clients, as well as big-picture projects. Beyond the work itself, however, you need to create a strong relationship with the HOAs you manage. Communicate clearly and prioritize customer service. … Continue reading

Things An HOA Board Should Consider When Planning An Annual Budget

Posted: August 12th, 2019 | Categories:

As a homeowner association (HOA) manager, you may be called upon to assist with developing the association’s annual budget. Providing historical data, anticipating future costs and pointing-out upcoming needs are valuable parts of your job; but it is the board that determines the numbers. In many ways, you’re the “eyes and ears” of the board when it comes to money management. You collect resident fees, pay invoices, monitor financial accounts, and perform other financial duties. This places you in a unique position to offer guidance about budgeting. If your client’s HOA board approaches you for help setting an annual budget, … Continue reading

What to Know About Bookkeeping for HOAs

Posted: June 12th, 2019 | Categories:

So you’ve just become an association manager. Congratulations! Leading a homeowner association (HOA) can be a very rewarding experience. You’ll be personally involved in the success and growth of your client’s community. But to provide the best possible service to the associations you manage, you’ll need an in-depth understanding of HOA bookkeeping. Although association management software like CINC Systems provides valuable accounting features, it helps to familiarize yourself with basic financial functions. Even if you’ve done accounting for yourself or another business, you still need to educate yourself in the unique financial needs of an HOA. Bookkeeping for HOAs presents … Continue reading

Top Features of Association Management Accounting Software

Posted: June 12th, 2019 | Categories:

When you’re managing an association, you’re going to need help. It can be a lot to handle, with responsibilities ranging from daily maintenance to big picture planning–not to mention solving resident disputes and other issues that may pop. And that’s before getting into the financial side of it. Managing a homeowner association (HOA) or condominium association (COA) requires a lot of number-crunching. You must process resident fees, pay utility bills, handle vendor invoices, and keep an eye on the association’s cash-flow so your client stays on budget. If you’re not careful, all the paperwork and the receipts will really start … Continue reading