Category: General

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 a 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 … 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

7 Common Association Management Mistakes

Posted: June 12th, 2019 | Categories:

Association managers have a lot of responsibilities. In order to run a successful homeowner association (HOA) or condominium association (COA) for your clients, you need to be highly organized, detail-oriented, and possess strong communication skills. It’s also important to understand HOA/COA financing. You can help ensure your success by using association management software like CINC Systems. HOA/COA accounting software allows an association you manage to go paperless and streamlines many of your daily tasks, like processing fee payments and work orders. But even when you use the best association management software, you’ll still face many challenges. To prepare yourself for … Continue reading

How to Evaluate Condo Association Management Software

Posted: June 7th, 2019 | Categories:

Managing a condominium-owner association (COA) requires patience, organization, and hard work—in other words, it’s a big responsibility. It’s rewarding, but also challenging. Luckily, there are many software programs and cloud-based apps that can make the job easier than ever. CINC Systems is one of them. Condo management software comes with many options and features. Some programs and apps are designed for small COAs, while others have been created to handle the unique needs of a much bigger association. Whether you need accounting services, member web portals or tools to manage maintenance and repairs, we have the right COA management software … Continue reading