What Type Of Rules Can Homeowner Associations Regulate?
Homeowner associations (HOAs) and condominium associations (COAs) have many rules. As an HOA/COA manager, enforcing these rules is part of your job. Your clients may also ask you to act as a consultant when they revise the association’s rules or create new ones. As a professional association manager, you have valuable insight into the types of rules that help a community thrive. But what types of rules can homeowner associations regulate? Unlike an apartment complex with renters, the membership of an HOA/COA consists of property owners. This means residents have different legal rights. When someone buys property in a community … Continue reading
What Documents Do HOAs/COAs Need?
Homeowner associations (HOAs) and condominium associations (COAs) are unique organizations. They require a clear leadership structure, operating protocols, and a set of detailed rules and regulations. Each of these assets will help the association run efficiently and serve its members by creating a successful, thriving community. As an HOA/COA manager, one of the first things you need to do for each client is familiarize yourself with their governing documentation. Governing documents outline the terms and conditions between the association and the residents who make up its membership. To run a great HOA/COA for your clients, you need to be well-versed … Continue reading
What Association Managers Should Look For When Vetting Vendors And Contractors
Homeowner associations (HOAs) and condominium associations (COAs) often need repairs and maintenance As an HOA/COA manager, you’ll often interact with vendors and contractors on the association’s behalf. me associations also employ private security for their community. In addition to hiring vendors and contractors for the HOA/COA, part of your job may include handling service contracts, communicating with the vendor or contractor, monitoring work, and paying invoices for the association. In some cases, you’ll be working with a vendor or contractor for a short-term project, such as painting a common area. Other times, the vendor or contractor will have an ongoing … Continue reading
How To Transfer Association Management Data From Your Servers To The Cloud
Data management is an important part of any business. When you’re managing a homeowner association (HOA) or condominium association (COA), how you store your client’s data is crucial. Using cloud servers and cloud-based management software like CINC Systems offers many benefits over traditional data storage. Transferring your data to the cloud will help you manage your clients’ HOA/COAs more efficiently. So how do you transfer your association management software data from your servers to the cloud? Depending on your business’s digital infrastructure, transferring your data may take some time. Moving your data to cloud storage is a process that involves … Continue reading
How To Prevent Association Management Cloud Hacking
There are many advantages to using cloud-based software for homeowner association (HOA) and condominium association (COA) management. Cloud-based software like CINC Systems can dramatically streamline your business and help you manage your clients’ HOA/COAs more efficiently. However, some users are concerned that cloud-based software poses a greater risk of data hacking. You may think that hackers would have no reason to look at the association management industry, but think again. The association management industry is a $5 billion industry; that is reason enough for hackers to be looking at us. All management companies hold private data, account numbers, and possibly … Continue reading
How Can An Association Manager Help Enforce HOA Rules?
As a homeowner association (HOA) manager, it’s your responsibility to help the HOA enforce its rules. In many ways, you’re the “eyes and ears” of the association’s board members. When you’re on-site managing the association, you’ll likely be among the first to spot rule violations. Residents will also come to you with noise complaints, neighborly disputes, and other problems that arise from violations of the HOA’s rules. So how can you help enforce the HOA’s rules? What’s the best strategy for enforcing rules while still maintaining a positive relationship with residents? As an association manager, it’s important to strike a … Continue reading
Best Practices For Organizing Accounts Receivable And Payable For HOAs/COAs
Managing a homeowner association (HOA) or condominium association (COA) means you’re responsible for many aspects of your clients’ finances. This includes organizing accounts receivable and payable. In HOA/COA accounting, the term “accounts receivable” refers to any outstanding money owed to the association. “Accounts payable” refers to bills or invoices the association needs to pay. HOA/COAs aren’t businesses that sell traditional products or services, so you’ll be dealing with accounts payable more often than accounts receivable. However, it’s important to follow a set of guidelines that covers both types of accounts. Keeping track of your clients’ accounts payable and receivable will … Continue reading
How Integrated Accounting Helps Manage HOAs
Accounting is one of the key tasks of homeowner association (HOA) management. When you manage a client’s HOA, you’re responsible for ensuring the organization’s financial health. You will help the HOA pay its bills, collect resident fees, balance the budget, and more. Thankfully, you can now set aside your spreadsheets and calculators. HOA accounting software automates many of your daily management tasks. With applications like CINC Systems, you can use integrated accounting to help manage your clients’ HOAs. What Is Integrated Accounting? This term refers to a single platform where all parts of an organization’s finances are accessible in one … Continue reading
What Are Some Benefits Of Cloud Accounting Services For Association Managers?
Cloud accounting services offer many benefits for association managers. When you manage a homeowner association (HOA) or condominium association (COA), your duties include a lot of accounting. You need to be responsible, organized, and pay close attention to detail. Cloud accounting systems, such as CINC Systems, helps you work more efficiently. With cloud accounting for association management, you’ll be able to streamline many services for your HOA/COA clients. Cloud accounting software lets you process resident payments online, create web portals for work orders, generate financial reports, and monitor your clients’ accounts with real-time bank integration. It also provides features like … Continue reading
What’s The Difference Between Cloud Accounting Software And Traditional Accounting Software?
Accounting software is essential to managing a homeowner association (HOA) or condominium association (COA) for clients. In general, there are two types of accounting software for HOA/COA management: the first is known as traditional accounting software, while the second is called cloud accounting software. Traditional accounting software refers to accounting programs that need to be installed on your computer. They’re self-contained systems, meaning all your accounting data is stored in the computer’s hard drive. Cloud accounting software stores your entire HOA/COA accounting system on remote servers, also known as “the cloud.” This method has a number of advantages over traditional … Continue reading