HOA software is an essential tool that helps associations become more efficient. Since there are a lot of options to choose from, it can be difficult to determine the best HOA software for your community. To aid in your search, here are nine non-negotiable HOA software features to look out for. HOA Software Features:…
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Many homeowners associations across the country choose self-management over hiring professional services. This can prove difficult as the association grows bigger and more tasks start piling up. If that situation sounds all too familiar to you, consider getting software for self-managed HOA communities. Benefits of Software for Self-Managed HOA Communities It is easy to…
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Late HOA payments are one of the most common problems homeowners associations face today. With assessments playing a critical role in the continuous operation of the HOA, it is imperative to know how to collect these late payments. How to Deal with Late HOA Payments It is not that difficult to understand how an…
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HOA fees — they are a staple in any given homeowners association. But, what are they exactly? And what purpose do they serve? What Are HOA Fees? What is an HOA fee? Also known as HOA dues, HOA fees are fees that homeowners associations collect from its members, i.e. homeowners. When homeowners purchase a…
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In certain situations, a homeowners association may decide to levy a special assessment. Most homeowners are not amenable to this because of the unexpected financial burden. To prevent any misunderstandings between homeowners and the board, here’s what you need to know about HOA special assessments. The Basics of HOA Special Assessments Living in an HOA…
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Homeowners association board meetings are where important decisions are made. There are different types of HOA meetings depending on the purpose or matter at hand. For efficient and productive HOA board meetings, here’s what you need to know. What Are the Different Types of HOA Board Meetings? Not all HOA board meetings are the…
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Part of hiring an HOA property management company is paying a set fee in exchange for services to the association. But, how can you separate the reasonable fees from the questionable ones? The key is to understand how an HOA management fee works. What Is an HOA Management Fee? Homeowners associations don’t run on…
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Prompt and reliable dissemination of information is a key element of successful HOA management. To accomplish this, you will need various HOA communication tools. HOA Communication Tools and How to Use Them One of the duties and responsibilities of your HOA board is to communicate with association members. From making announcements to sending out…
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Homeowners association accounting is a critical part of managing any HOA community. The key to successful accounting, though, starts at the beginning — choosing your accounting method. Among the three possible options, HOA accrual accounting remains unsurpassed. What Is HOA Accrual Accounting? The accrual basis of accounting dictates that you should record revenues and…
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Are HOAs required to file tax returns? Even though they are non-profit organizations, all HOAs must still file their income tax return each year. To better understand the requirement, here’s everything you need to know about the homeowners association tax form, also known as Form 1120-H for HOAs. What Is Form 1120-H for HOAs?…
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