How Often Should an HOA Be Audited?
A homeowners association (HOA) can be a complex organization with many moving parts. HOAs represent the best interests of the homeowners in their community while providing various services and amenities. To do this, HOAs collect fees from residents and control various financial funds to pay for them. As an HOA manager, you’ll assist your clients […]
What Is an HOA Audit?
A homeowners association (HOA) audit is a thorough, detailed review of the association’s finances. HOA audits are an important tool for ensuring the association’s lasting success. As an HOA manager, it’s unlikely that you’ll be performing audits yourself. However, you will be called upon to assist your clients and advise them during the process of an audit. […]
What Is the Purpose of a Budget for HOAs?
A homeowners association (HOA) budget serves many purposes. To be an effective HOA manager, it’s important to understand how a budget serves your clients. Although an HOA budget is created by the association board and approved by its members, you’ll still play a vital role in this aspect of financial planning. Therefore, it helps to […]
What Is Association Management Software?
Association management software is one of the most powerful tools available for your association management business. Like any small business owner, choosing the best software for your company can make a big impact on your bottom line. Association management software helps you increase efficiency and grow your business. Whether you manage a large homeowners association […]
What Does an Association Management Company Do?
Are you thinking about starting an association management company? Or maybe you’re association manager looking to brush up your skills and increase your knowledge of this exciting industry? In either case, you may be wondering what an association management company does. The simple answer is that an association management company assists with various aspects of […]
How Integrated Banking Can Save Money For Your Clients’ HOAs
One of the best things you can do for your homeowners’ association (HOA) clients is to help them save money. As an HOA manager, you’ll assist your clients with their budgets, payments, and other fiscal requirements. When you can do more to help them save money, you’ll be able to offer even more valuable service […]
Are HOA Records Public?
Homeowners associations (HOAs) keep a lot of records, including governing documents (bylaws and Covenants, Conditions, & Restrictions), financial reports, and more. Many of these records are public; however, different states have different laws about which records the HOA is required to make public and how the public can obtain them. The following HOA record overview will help you […]
Can Associations Prohibit People From Meeting in Person?
In most states, the COVID-19 pandemic has dramatically disrupted our ordinary lives. Even as the country begins slowly reopening, experts at the Centers for Disease Control and Prevention and other public health institutions are still cautioning against in-person social gatherings. Many cities prohibit groups of 10 or more people, while others are asking residents to stay away […]
Do Homeowners Associations Have Emergency Powers?
Emergencies are a part of life. Disaster can strike at any moment, without warning, and put homeowners’ associations (HOAs) in a challenging position — they can cause unexpected property damage, disrupt infrastructure, and threaten the safety of residents. Thus, HOAs have certain emergency powers. These emergency powers may vary by state and by county. Additionally, each of […]
What Is the Difference Between a Community Manager and a Property Manager?
Homeowners associations (HOA) require outside management to be successful, primarily if the associations include a large number of properties. However, even HOA board members can be confused about the difference between a community manager and a property manager. While they both play a vital role, community managers and property managers offer different services. If you’re new […]