A community association management company serves two principal sets of stakeholders. The association desires attractive amenities and an aesthetically-pleasing community. While property owners want the same to maintain their assets’ values, they also seek to avoid burdensome dues. For a community association management company to profit in such an environment requires a carefully-crafted business plan.…
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According to current research, approximately one in every six homes in the United States is part of a homeowner’s association. Some people believe that homeowner’s associations provide the best way to maintain value and safety in the neighborhood, while others are afraid that they take away from the rights of individual homeowners. However, many people…
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You’ve cleared the hurdle of getting the board to approve the new budget, but where do you go from here? There are so many laws governing HOA’s that it is imperative to follow the appropriate steps, especially when it comes to tracking the funds and ensuring their appropriate allocation. It’s no secret that projects rarely…
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According to a recent study of property management software by Software Advice, a company that does research on management tools for apartments, people are overall still using more manual, older fashioned methods in the apartment management industry but that the tendency to move over to more modern technologies, such HOA Software, is growing quickly. The company found…
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Being the member of Homeowners Association Management can be a very rewarding experience that allows you to communicate daily with amazing people and do some good for the community. However, most Board members are volunteer-based and often members will have a full-time job and responsibilities outside of the Board. Members may feel overwhelmed and like they struggle to…
DetailsA homeowner’s association reserve study is very important, as it helps the Board set a realistic budget, maybe with Accounting Software for HOA by considering all possible extra expenses, like emergencies and repairs that weren’t anticipated. It’s not uncommon for homeowners to show some resistance to the reserve study report, though, as they have trouble justifying…
DetailsWhether you’re considering becoming a homeowners association manager, thinking about hiring one and wondering what they do, or just curious about the process, here is some insight for you into the day-to-day routine of an HOA manager. A Little of Everything The term “HOA manager” perhaps doesn’t do the role justice, as there are many responsibilities…
DetailsWhy its necessary for your HOA to use accounting software You’ve probably heard or seen advertisements for Accounting Software for Community Associations, but you might be wondering if they could actually benefit your homeowner association. Homeowners association accounting software helps with day-to-day tasks like payments, invoices, wages payments, and regular reports like balance sheets, profit…
DetailsUnderstanding HOA accounting basics When doing accounting tasks with Homeowner Association Software, you have to think reverse of how the typical American sees their household income and budget. With HOA’s, the Board begins by determining the association budget FIRST, then the estimated expenses, followed by determining the revenue source — which is mostly the fees…
DetailsSpring to-do list for HOA communities Now is the perfect time to start that spring to do list. As the long, cold winter slowly turns into the wonder that is spring, Mother Nature surely left plenty of work behind. Home Owners Associations, condos and apartment complexes face the bulk of the work as residents…
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