Lower HOA Fees: 6 Tips for Property Managers to Save Money

As a property manager in a homeowners association (HOA), you know how challenging it can be to keep the budget in check. One of the most significant expenses that HOAs face is the cost of maintaining common areas, such as landscaping, pools, and clubhouses. These costs are typically covered by HOA fees paid by homeowners, but high fees can be a source of stress for both you and your residents.

Fortunately, there are ways to reduce your HOA fees without sacrificing the quality of your community. In this blog post, we’ll share six proven tips for reducing your HOA fees and keeping your budget in check. From negotiating with vendors to making energy-efficient upgrades, these tips are sure to help you save money and improve the financial health of your HOA. So let’s get started!

Tip #1: Conduct a Budget Audit

Regularly reviewing your HOA’s budget is crucial to keeping costs under control. Here are some reasons why:

1. Identify areas of overspending – By reviewing your budget regularly, you can identify areas where your HOA is overspending. This might include non-essential services or unnecessary upgrades.
2. Find opportunities for cost-cutting – Once you’ve identified areas of overspending, you can look for ways to cut costs. This might include reducing non-essential services, finding more cost-effective solutions, or negotiating with vendors.
3. Plan for future expenses – By reviewing your budget regularly, you can plan for future expenses and avoid surprises. This might include planning for maintenance and repairs, as well as larger capital projects.

To conduct a budget audit, follow these steps:

1. Review your budget line by line – Look at every expense in your budget and ask yourself if it’s necessary. Consider whether there are any areas where costs could be cut.
2. Look for opportunities to save money – Once you’ve identified areas of overspending, look for ways to save money. This might include negotiating with vendors or finding more cost-effective solutions.
3. Prioritize expenses – Prioritize essential expenses, such as maintenance and repairs, over non-essential services. This will help you allocate your budget more effectively.

By conducting a budget audit and identifying areas where costs can be cut, you can keep your HOA budget under control and ensure that your community is getting the most value for its money.

Tip #2: Negotiate with Vendors

One of the biggest expenses for an HOA can be maintenance and repairs. But did you know that you can often negotiate with vendors to lower their costs and save your HOA money? Here are some tips for negotiating with vendors:

1. Get multiple quotes – Before you choose a vendor, get quotes from multiple providers. This will give you a better sense of what the market rates are, and you can use that information to negotiate.
2. Ask for a discount – Don’t be afraid to ask for a discount! Many vendors are willing to offer a discount if you sign a long-term contract or pay in advance.
3. Bundle services – If you need multiple services from a vendor (such as landscaping and snow removal), ask if they’ll offer a discount for bundling services.
4. Consider DIY solutions – Depending on the scope of the project, you may be able to handle some maintenance and repairs in-house. This can save your HOA money on labor costs.
5. Research alternative vendors – If you’re not happy with the prices you’re getting from your current vendors, research alternative providers in your area. You may find a vendor who offers better rates or more flexible pricing options.

By negotiating with vendors and exploring alternative options, you can save your HOA money on maintenance and repair costs. Don’t be afraid to advocate for your community and find the best solutions for your budget.

Tip #3: Reduce Energy Costs

Reducing energy costs is a great way to save money for your HOA and reduce your community’s carbon footprint. Here are some tips for reducing energy costs in common areas:

1. Switch to LED lighting – LED lighting is more energy-efficient than traditional lighting and can save your HOA money on electricity costs.
2. Install motion sensors – Motion sensors can be installed in common areas to automatically turn lights on and off, reducing energy waste.
3. Upgrade to energy-efficient appliances – Energy-efficient appliances, such as refrigerators and washing machines, can save your HOA money on electricity costs over time.
4. Use programmable thermostats – Programmable thermostats can be used to automatically adjust the temperature in common areas, reducing heating and cooling costs.

To encourage residents to make energy-efficient upgrades in their own homes, consider the following tips:

1. Host educational events – Host events to educate residents about energy-efficient upgrades they can make in their own homes. This might include information on energy-efficient lighting, appliances, and insulation.
2. Offer incentives – Offer incentives to residents who make energy-efficient upgrades, such as a discount on their HOA fees or a gift card to a home improvement store.
3. Provide resources – Provide residents with resources on energy-efficient upgrades, such as a list of recommended contractors or a guide to energy-efficient products.

By reducing energy costs in common areas and encouraging residents to make energy-efficient upgrades in their own homes, your HOA can save money and reduce its impact on the environment.

Tip #4: Find Affordable Insurance

Insurance can be a significant expense for your HOA, but there are ways to find more affordable options. Here are some tips for finding affordable insurance for your HOA:

1. Shop around – Don’t just settle for the first insurance provider you find. Shop around and compare rates from multiple providers to find the most affordable option.
2. Consider bundled policies – Many insurance providers offer bundled policies, which can be a more affordable option than purchasing individual policies.
3. Look for discounts – Some insurance providers offer discounts for HOAs with a good claims history or for installing safety features, such as fire alarms and sprinkler systems.
4. Review your policy regularly – Regularly review your insurance policy to ensure that you’re getting the coverage you need at a reasonable price.

To negotiate lower rates with insurance providers, consider the following tips:

1. Build a relationship – Building a good relationship with your insurance provider can help you negotiate lower rates over time.
2. Ask for discounts – Don’t be afraid to ask your insurance provider for discounts. This might include discounts for bundling policies or for installing safety features.
3. Consider raising your deductible – Raising your deductible can lower your insurance premium, but be sure to weigh the risks and benefits before making this decision.
4. Work with a broker – A broker can help you negotiate with insurance providers and find the most affordable options for your HOA.

By finding more affordable insurance options and working with insurance providers to negotiate lower rates, your HOA can save money on insurance costs and ensure that it has the coverage it needs.

Tip #5: Improve Communication

Inefficient communication among residents, property managers, and the HOA board can lead to higher costs for your HOA. For example, if residents aren’t aware of maintenance schedules, they might call in unnecessary maintenance requests, leading to higher costs for the HOA. Here are some tips for improving communication in your HOA:

1. Use software to streamline communication – Using HOA software like Smartwebs can help improve communication among residents, property managers, and the HOA board. The platform allows for seamless communication between all parties and ensures that everyone is on the same page.
2. Send regular updates – Send regular updates to residents on maintenance schedules, community events, and important HOA updates. This will help keep everyone informed and reduce the likelihood of unnecessary maintenance requests.
3. Encourage feedback – Encourage feedback from residents on how to improve communication and community life. This will help build a stronger sense of community and ensure that everyone feels heard.
4. Hold community meetings – Hold community meetings regularly to update residents on HOA business and to provide a forum for residents to voice their concerns and ask questions.

Using Smartwebs HOA software as part of your communication strategy can help streamline communication and reduce the likelihood of miscommunication and unnecessary costs.

By improving communication among residents, property managers, and the HOA board, your HOA can reduce costs and create a more cohesive and efficient community.

Tip #6: Consider Self-Managing Your Community

Professional management can be expensive for your HOA. If you’re looking to reduce costs, consider self-managing your community. Self-managing your HOA can offer several benefits, including:

1. Cost savings – Self-managing your HOA can save your community money on professional management fees.
2. Increased control – Self-managing your HOA gives you greater control over the management of your community.
3. Greater community involvement – Self-managing your HOA can lead to greater community involvement, as residents take on more responsibility in the management of the community.
4. Increased transparency – Self-managing your HOA can lead to increased transparency in the management of the community.

If you’re considering self-managing your HOA, here are some tips for transitioning from professional management to self-management:

1. Evaluate the feasibility – Evaluate the feasibility of self-management for your community. Consider the size of your community, the level of involvement of residents, and the availability of resources.
2. Establish an HOA board – Establish an HOA board to oversee the management of your community.
3. Create a plan – Create a plan for managing your community, including how to handle maintenance requests, collect dues, and enforce community rules.
4. Train board members – Train board members on their responsibilities and how to effectively manage the community.
5. Seek outside help – Consider seeking outside help from legal, financial, and software professionals to ensure that your community is properly managed.

By self-managing your HOA, your community can save money on professional management fees and create a more involved and transparent community. However, self-management requires careful planning and effective communication among board members and residents.

Conclusion

By implementing these six tips, you can take control of your HOA budget and potentially reduce your HOA fees. Negotiating with vendors, conducting a budget audit, reducing energy costs, finding more affordable insurance options, improving communication, and considering self-management are all effective ways to save money and create a more efficient and transparent community.

As a property manager, it’s essential to prioritize budget management and take steps to reduce costs where possible. Encourage board members and residents to get involved in the budgeting process. Consider implementing these tips to improve the financial health of your HOA.

Remember, effective communication and careful planning are crucial to successful budget management. By working together and taking control of your HOA budget, you can create a thriving and financially sustainable community.

Common HOA Accounting Challenges

Some of the most common HOA Accounting challenges can be avoidable.  What accounting and reporting procedures does your property management company use to effectively remain compliant?

One of the most difficult and time-consuming workflows in community association management is accounting. Since it affects practically every area of your organization, from owner retention to upkeep, it is also the most important. As a property manager, you cannot afford to make mistakes in your accounting.

We’ve listed some of the most typical accounting problems that arise in property management below, along with some helpful solutions, such as HOA accounting software

How do you manage dues collection?

Homeowner assessments (HOA dues) provide the primary source of funding for a homeowners’ association’s budget. Homeowners’ associations (HOAs) are able to pay their bills on time when residents pay their dues on time. Supplies are bought, vendors are paid, and reserve funds are added to support upcoming initiatives.

Unpaid dues can result in late fees and a bad reputation for your community management company. Homeowners associations must take dues collection seriously in order to maintain successful management of the property. Even if it means hiring a collection agency, attorneys, or in some cases, an HOA-held lien on a property.

Solution: Offer online payment processing

One way to maintain a positive relationship with your homeowners and ensure timely payments are made is to offer a flexible payment system to homeowners. Use an HOA website portal for simple online payment options. This provides homeowners the freedom to pay dues whenever they want using a credit card, ACH, eCheck, or another payment method.

By automating interactions and fee assessments with the homeowner, the association management software from Smartwebs can save your management company’s accounting team considerable time. To provide real-time data and updates on past-due accounts.

Reconciling books (Bank reconciliation)

A bank reconciliation process compares the balance displayed in the HOA’s financial records to the balance shown on the account’s bank statement for the same account. If there is a difference between these two numbers, reconciliation can reveal any mistakes or omissions that may have occurred.

A number of property managers still use limited systems like QuickBooks and Excel spreadsheets to reconcile accounts. As Quickbooks was not built for HOAs, this can often lead to a lot of double data entry, confusion, and inconsistencies which can require more time spent to resolve. This makes reporting a very manual and challenging process.

Solution: Automate reconciliation with an all-in-one property management platform.

Your HOA property management software should offer robust accounting features such as real-time bank transactions and reports. When choosing the best HOA software solution, make sure that it imports bank transactions daily. With the right community association software, you can maintain automated reports of your bank activity, and handle transaction matching in one easy-to-do step. All of these things can spare your staff the time-consuming task of detangling errors at the conclusion of each accounting cycle.

1099’s and year-end close

One of the tasks most people dread all year long is preparing and sending 1099’s. It’s a time-consuming process that can easily turn nightmarish if you don’t have the right tools in place to simplify the process. If you don’t submit your 1099’s on time, you could face steep penalties with the IRS and expose your HOA to audits.

Solution: Utilize Automation

Automation eliminates the risk associated with manual data entry errors while also making the process of 1099s and closing books considerably simpler. The ability to automatically generate 1099s and supporting reports is very valuable since it saves time and guarantees accurate transparency to owners.

When all of your vendors’ and owners’ information is stored in the system, processing 1099s becomes simpler and quicker. Ensure that the 1099-NEC form, which is now necessary to report on vendor earnings, is supported.

Processing duplicate bills 

It’s more common than you may think, a vendor sends a duplicate bill because they didn’t receive payment yet, or they forgot they already sent it in. To make it even simpler to unintentionally process payment twice, they might even alter the invoice date or invoice number.

Solution: Online vendor management system

An important and overlooked aspect of property management accounting is their software’s work-orders capabilities. When your accounting and work orders management are all in one platform you simplify the management process and leave little room for these accounting errors.

Property maintenance shouldn’t mean filling out so much paperwork and then trying to figure out when the work will be started and completed and payments made. With the right HOA software, homeowners can submit requests online and receive an automated email notifying them that it’s being processed. Staff will review the request and assign a vendor who will be notified via email, text, or voice message. Easily track work orders with our unique link so you always know the status. Eliminating the manual process and paper trail, helps you stay on track and eliminate errors such as processing duplicate bills.

Lack of Insight Into Financial Health

Last but not least, it can be quite difficult to gain an understanding of an association’s financial situation. Especially when data is stored in several locations and there isn’t a consistent view. Employing diverse systems can make it more difficult to obtain a complete picture of your association’s finances. Board members may not trust your association or be unsatisfied if your finances are unclear or deficient. Additionally, limited accounting solutions typically don’t provide the ability to generate specialized reports. It becomes difficult for you to clarify matters to your boards and give them the authority to act on behalf of the neighborhood.

Solution: One Platform

Consider adopting just one solution that has every workflow within your business on one platform. From accounting and reporting to violations and work orders. Avoid duplication or manual entry and have immediate access to your finances. Integrate your association’s financials with the rest of your business processes in a single, cloud-based system.

Streamline your accounting and reporting procedures, save time, and make room for expansion with a system like Smartwebs. Easily handle all of your association’s financial responsibilities with the help of Smartwebs. We’ve got you covered, with a variety of bank integrations, versatile accounting and reporting tools, and more.

Summary

You as the property manager have the option of accepting renters who have pets or not. You may be unaware of what limitations you can impose on the animals you accept and what details you can demand upfront. Our pet screening application template gives you the details you require to have all of your queries addressed and have crucial discussions with your potential homeowners who own pets.

What is a Pet Screening?

This is essentially a background check on the pet of your homeowners that your association or a third-party agency conducts upon moving into the community. You get insight into the pet’s personality, temperament, and behavior through this approach. You may learn more from it than you would have from a single “in-person” encounter.

Inspecting a pet is just as crucial to enforcing your community’s CC&Rs. You may avoid potential property damage and future noise complaints by doing this.

Animals that go out of control can cause destruction to your community. Untrained animals may bark, upsetting the neighbors who may complain about the noise. These issues can be avoided with the use of pet screenings.

How do you conduct a pet screening?

First and foremost, you should always be upfront with potential homeowners about any pet policies you have (such as size or species limits) and any additional costs they would be liable for if they bring a pet with them. This will save both you and potential renters time when filing an application in the event that the pet is not one you accept or they refuse to pay the needed extra charge.

The primary goal of the pet screening procedure is to prevent a renter from moving in with a pet that might seriously destroy your property or endanger other tenants. Pets who are boisterous, unvaccinated, or that speak frequently might cause issues.

A later, more problematic issue including a notice to depart or an eviction may be avoided with a pet screening.

Pet Screening Application Questions

Making a pet screening application that gives a high-level summary of their pet is a smart place to start. To help you get started, consider these sample questions:

• Pet Name
• What is your pet’s weight?
• How old is your pet?
• How long have you owned this pet?
• Proof of up-to-date vaccinations?
• Has your pet ever bitten/attacked another person or animal?
• Is your pet house-trained?
• Does your pet have any behavior issues? This may include bared teeth, growling, raised hackles, or excessive barking.
• Veterinarian contact information

Download the FREE pet screening application template:

What are HOA Service Animal Policies?

The ADA states, only a dog trained individually to perform tasks or aid a disabled person is considered a service animal. No other animal, domestic or wild, even one that has been taught is regarded as a service animal. Service animals are expected to assist the disabled in all of their responsibilities.

Although the law solely refers to dogs as service animals, several states also classify other animals as such provided they meet the necessary criteria. Be careful to review the laws and guidelines in your state regarding service animals. You should include the necessary guidelines in your request for a pet screening.

In accordance with the Fair Housing Act, you may also ask for adequate documents to show that the individual in question indeed requires a service animal due to a handicap. Not all disabilities are physically obvious. Your prospective homeowners could occasionally have mental illness and need a service dog to help them in social circumstances. Service animals can remind them to take their prescriptions on schedule.

You can request a doctor’s note to confirm that they need a service animal in certain circumstances. What you may and cannot do in relation to service dogs is listed below:

You can refuse a service animal if:

• The pet is not legal according to your state’s law.
• The homeowner refuses to take responsibility for the service animal, refusing to resolve noise complaints or clean up after the animal.
• The pet is a threat to the other residents of the property.

HOA Meeting Minutes Template: What should it include?

Want to know how to take minutes for homeowners association meetings? You’ll learn what type of information you should include, and how to properly format the minutes with our easy-to-use editable template. 

Because it is the law, HOA boards need to take the minutes of every meeting. This way, there will be an accurate record of what was discussed in the meeting.

If you’ve never seen a meeting minutes template before, writing one can be difficult. Recording minutes the first time can often be daunting.

This article will show you everything about recording HOA meeting minutes, from the order of items to be recorded to word-for-word instructions on what can be left out. You will find a sample of the minutes document below to use as a template for your meetings after reading this article.

What are meeting minutes?

HOA meeting minutes are a record of everything that has happened between the members during the meeting.

During a meeting, minutes are recorded and detail the subjects discussed, the actions taken, the decision-makers, etc.

Why are meeting minutes so important?

HOA meetings are important because, without them, there could be a lack of proper documentation. As a result, the minute’s document is often the first port of call when there’s uncertainty about whether issues have come up.

Minutes help dispel disputes among board members.

Meeting minutes are open to the public. Residents have the right to view all of the information in meeting minutes. However, executive meeting minutes are not mandatory for publication and include confidential matters.

If you want to provide accessibility for minutes, they must be distributed to all residents within a specified timeframe. The rule can vary from one state to the next.

Who takes meeting minutes?

If an HOA doesn’t already have a designated note-taker, the first thing they should do is appoint someone as a note-taker. Furthermore, they should have a backup in case that person is unable to attend a meeting.

Often, the secretary will take down the minutes. However, it is common for boards to hire or elect a recording secretary in order to free up their general secretary for meeting participation. If the association works with a property manager, then they may be asked to take, prepare, and share meeting minutes.

The ability to write quality minutes for meetings can be learned through education and practice. It’s not a skill that everyone is born with, but most people can learn to do it effectively. Experts recommend that all board members have an understanding of how to record meetings. Even if they’re not responsible for this task, it’s beneficial to know the process.

Board members are encouraged to write their own notes when they attend open sessions so they can have the information immediately after the meeting. Depending on the time length of the meeting and the role of the note-taker, it can take a few days, or more for the note-taker to get the minutes up. 

What to include in an HOA meeting minutes template:

Here are some of the most important points to include in HOA meeting minutes:

• The name of the association
• The date and location of the meeting
• The time at which the meeting started and adjourned
• A roll call of those who are present and absent with their respective board positions
• Board of directors reports
• Unfinished Business
• New business and open discussions
• New meeting details
• Names of members who voted abstained or dissented from a motion
• A record of all financial transactions including bank account opening and closing, reserve expenditure, etc.
• Adjournment
• Signature of the Secretary

Your local or state laws may have other items and rules on how to take HOA board meeting minutes.

Approving Meeting Minutes

Before proceeding with the day’s business, the secretary must approve the minutes from the previous meeting.

What shouldn’t you record in the meeting minutes?

There are some meeting elements that should not be included in an HOA document.

#1 Off-topic or irrelevant discussions

It is not uncommon for board members to engage in a discussion amongst themselves.

It’s a common mistake for new meeting note-takers to believe that every meeting discussion needs to be recorded in the minutes. That is not the case.

Unless the conversation is relevant to an issue listed on the agenda, it does not need to be recorded. 

#2 Personal Beliefs 

Personal and or irrelevant views and opinions discussed by the board members, or recording persons, similarly should not be included in the meeting minutes. 

#3 Disagreements

Similar to that of personal opinions, arguments, or disputes that have occurred between members should also not be included in meeting minutes. 

HOA Meeting Minutes Template

Here is an example of an HOA meeting minutes template. To make this your own, you can download this template and edit it for your own board meetings. 

How long should the HOA maintain its meeting minutes?

An HOA board must maintain their meeting minutes register indefinitely as part of their official records. Check your own local and state laws as to how long your HOA is required to keep meeting minutes records. 

Looking to streamline your HOA accounting and management? Smartwebs is the pioneer in HOA management software!

From violations, inspections, work orders, sending notices and dues payments, etc., smartwebs makes HOA management easy. 

Want to see Smartwebs in action? Book a Demo. We’d love to show you how it works.

HOA Accounting Software vs Quickbooks

Can you use Quickbooks for HOA Accounting?

If you’re like many volunteers for homeowners associations, you probably use traditional accounting software—like QuickBooks or Zoho—to manage your community’s finances. 

The basic out-of-the-box software solutions like Quickbooks can still serve your needs, but you are missing out on the customized features offered by HOA software.

Managing your Community Association goes well beyond invoicing. Quickbooks and other run-of-the-mill accounting software lack the capabilities that make running your HOA easier. That’s where HOA software can bridge the gap between accounting, communications, violations, work orders, and everything else that goes into your HOA operations. 

Quickbooks vs Smartwebs 

Quickbooks is a one size fits all accounting software designed to work for any individual in any industry. That being said, the biggest con of using QuickBooks is that it was not designed specifically for HOAs. Community association accounting software was designed to incorporate industry specifics to make HOA bookkeeping easier.

Smartwebs HOA accounting software was developed and designed exclusively for community associations, using the most up-to-date cloud technology and security. Powerful workflows, easy automation, and improved reporting will keep your HOA running smoothly.

Customer-based accounting vs unit-based accounting 

Customers, individuals, and businesses use Quickbooks to pay for or send invoices for products or services provided by others.

QuickBooks fails to realize what makes HOAs unique – units. 

In QuickBooks, you must create a new customer every time an occupant moves into a unit. Over time, each purchase will generate one new account with the same address, making it difficult to compile documentation by unit, only by the customer. 

Community Association Management software helps you organize records of individuals and units

Smartwebs keeps records on both units and individuals, making it easier than ever to establish a documented history of owners, maintenance, architecturals, payment activity, and more at the touch of a button. 

HOA accounting software was designed to make community association management simpler. With built-in tags and custom fields, you can segment units and owners. 

Do more than just HOA accounting 

With Smartwebs, you can manage every aspect of your HOA, not just accounting. 

Smartwebs is an all-in-one software solution to help you manage your day-to-day community association tasks, such as work orders, architecturals, violations, and more. Using the community messaging feature, you can notify your community members of emergencies, such as storms and flooding, power outages, etc.

Communications

Quickbooks doesn’t capture communications between the biller and the payer. 

If you want to engage with your homeowners outside of billing, you’ll have to resort to other tools disconnected from your accounting software.

Quickbooks is not your HOA informational hub.

Smartwebs bridges the gap and unifies communication between the HOA board and homeowners. Through resident portals, homeowners can respond and engage in real-time. 

• Send mass emails, texts, and voicemails from within the platform.
• Send direct mail like paper invoices or print newsletters, at the click of a button with zero-touch mailing. 
• Issue violations
• Receive maintenance and architectural requests.

Static software vs Dynamic 

QuickBooks regularly updates its products to work within an ever-evolving tech environment. They fit within a scheme of other tools, each playing its own part in the business operation.

QuickBooks is a potentially powerful tool for managing financials for any business. However, HOA management is not on its list of services because of the specific requirements of these organizations.

Smartwebs is constantly improving to better serve HOAs. 

As we expand our products and capabilities, we make them available to all of our users.

We know what it takes to run an HOA, it’s in our DNA. That’s why we’ve included features to help streamline the process for you. Such as readymade templates for maintenance requests, violations, and architectural requests.

Managing an HOA property requires a significant financial commitment from the homeowners and can impact the annual budget. Self-managed HOAs, as opposed to Management Companies, save the association money and make for more personal ownership for volunteers on the board, especially those in charge of finances. That is why you need the best HOA Software for Self-Managed Communities. 

Board members can create impressive and creative solutions for their communities, but they need support in areas such as finance and legal processes. One tool that provides this support is HOA self-management software. With the right software, board members can streamline operations and make processes intuitive to create an improved community for all involved. 

Self-Managed HOA Software

Running an HOA without the assistance of a management company can be daunting. But without self-managed HOA software, it gets even more difficult. Some may find managing their HOA to be as easy as tying their shoes, but others find it to be a never-ending battle. This article will explore how a single solution can help your self-managed HOA thrive. We’ll go over what self-managed HOAs are and the type of services they offer. Lastly, we’ll provide a step-by-step process to help you decide what solution is best for you.

What is a self-managed HOA?

A self-managed association or homeowners association is one that strictly relies on members of the association, the HOA board, to run the community. Self-managed associations save money by not hiring an HOA management company but instead self-managing.

Whether it be large or small communities, self-management is becoming an increasingly popular way to manage your HOA. In fact, 30 – 40% of all HOAs are self-managed. 

To be successful as a self-managed homeowners association, board members must invest lots of their own time and have enough experience in each area they run to be successful. The question at hand is – should your HOA consider turning to self-management?

What are the benefits of self-managed HOA software?

Having self-managed HOA software plays a critical part in the overall success of an association.

1. Streamline Communications – Create better communications with your residents. We know it’s hard keeping HOA residents in the loop on what’s happening in their community. HOA  communications software delivers faster messages to your residents by email, text, or voice message within seconds. Create and use customized templates to quickly send communication to all residents at once from newsletters, annual meetings, severe weather alerts, amenities being serviced, and much more.

2. Cloud-based document storage – A cloud-based software solution better protects your data and makes it simpler to deploy and access from anywhere. The software also makes it easy to maintain continuity. Anytime there is a change on the board, the data will continue on the cloud and new members can start where their predecessors left off.

3. Time savings – When it comes to running a self-managed HOA, you likely have a lot on your plate. Logging data and chores can get tedious, but fortunately, the software has simplified many aspects of the process. With software, you’ll have the convenience of accessing all the information instantly, and often on the go with mobile apps too. As a result, tasks and requests can be processed much faster and more accurately! Plus, many software packages allow the automation of time-consuming processes so that they can be completed without your direct involvement at all.

How to use self-managed HOA software:

Many small and medium-sized associations successfully self-manage. The Community Associations Institute estimates that 40% of HOAs choose self-management. Managed homeowners’ associations can choose to go self-managed, which will have long-term benefits with the potential for cost savings in unit fees and other management costs.

The board of directors may use self managed HOA software in different ways, depending on their position.

Self-Managed HOA President

As President, an individual facilitates communication between board members and the community. The President ensures that every voice is heard as they make decisions that affect the community. They may prepare meeting agendas and ensure meetings remain focused on relevant topics. A President is also responsible for signing contracts and other legal documents for the association, which they may have to co-sign all checks.

Here are some ways that the President can use self managed HOA software to secure and efficiently complete their duties:

• Share and manage documents, keeping HOA-related business separate from personal or professional documents.
• Send mass emails, text messages, and automated phone calls directly to residents.
• Use a shared HOA calendar to manage a busy schedule.

Treasurer

The treasurer is one of the most critical people on the board. The treasurer manages all financial transactions and often collects dues from homeowners. This can take a considerable amount of time if the HOAs collect dues by hand in the form of paper checks. HOA self-management software automates the process for the treasurer, finance officer, and even the homeowners who can now easily pay online. 

The Treasurer must be able to produce financial reports for board meetings, assist with the association’s annual audit, and pay vendors approved by the board.

Poor management of association funds can lead to distrust among board members and even legal action. Most HOAs use accounting software designed for the general market but not for residents’ specific needs. 

An HOA self-management software can offer an HOA several benefits. It allows HOAs to streamline their finances by creating more harmony between the board, property manager, and homeowners.

• Automate collecting dues, late fees, and other charges
• Making and sharing real-time accounting reports with ease
• Building an annual budget and tracking income and expenses with custom charts and reports
• Creating vendor profiles and paying vendors directly from the software
• Sending professional invoices with a return envelope and perforated payment slip

Secretary

The secretary is often responsible for notifying homeowners of meetings and recording the minutes. The secretary manages important documents, such as homeowner information and maintenance history. Homeowners have the right to access these documents on demand according to covenant documents, so the secretary must maintain up-to-date records.

Secretaries can utilize Self Managed HOA Software by:

• Consolidating and storing essential documents, tracking maintenance history, communications, and payment history
• People who use the portal can have easy access to documents and account information, anytime, anywhere.
• Communicating via text, email, phone, or mail

Committees

HOA committees offer advice and assistance to board members. These groups come together to take care of relevant issues in the community. Committees are typically small groups of volunteers that serve advisory roles. Still, they can be a small committee with ongoing responsibility or an ad hoc committee that deals with specific projects. Committees empower shareholders and create communities involved in decisions made at meetings.

HOA Self-Managed Software helps Committees by:

• Send mass emails, SMS, and automatic phone calls, and view engagement communication data
• Email custom PDFs to homeowners for special events and topics 
• Send surveys and vote digitally with the option of anonymous voting and capturing results within the software
• Build a custom website for the community

Choose the best HOA software for self-managed communities

Efficiency and scalability should be the primary considerations on your list during this evaluation. Factors will include the size of your organization, the scale of your operations, and the type of experience that you need. Find customizable software for your unique needs that can take over labor-intensive tasks to free up volunteer hours. Check for any errors or mishaps with automation in mind to find ways it may have mitigated a human error.

When selecting self-managed HOA software, consider: 

• Affordability of the system
• Customization for dues collection and tracking
• Automated accounting for tracking income and expenses
• A portal for members to submit and track payments, view community calendars and alerts and submit requests
• Data storage and reporting
• Communication tools like mass texts, emails, voicemail, and physical mail
• Management of multiple properties
• Remote access for volunteers

The Best Self Managed HOA Software 

Smartwebs 

Smartwebs HOA Software can save Self Managed Communities time and Money. HOA software tailored to Self-Managed community needs takes care of many standard services, as well as gives staff the freedom to focus on other jobs. This leads to less stress and a more complete feeling of satisfaction.

Self-managed systems can help with continuity as well. Intuitive documents and resident information make it easier to prepare for changes, such as board turnover.

Advantages of Smartwebs for Your Self-Managed HOA

Cloud-based

Choosing a cloud-based HOA software solution can lead to considerable savings for a variety of reasons. Smartwebs cloud-based software removes the startup costs that an HOA has to pay for purchase and installation. No more installation of several devices, freeing up space on your hard drive and removing the hassle of manual regular system updates. Rather than investing massive amounts of money in hardware and software resources, cloud-based HOA software is easy to use, maintenance-free from a customer end, and allows you to work remotely from any device, anywhere.

Monthly subscription based

Smartwebs saves self-managed communities time and money by offering a monthly subscription software solution. Our software is priced at a per-door rate making it an extremely affordable option for self-managed communities. From a full-platform product (recommended) to a-la-carte software solutions, Smartwebs allows you to spend your money only on the applications you are utilizing and not waste your resources on features you don’t need.

Ease of use

Smartwebs is the leading HOA software solution for ease of use and scalability. Just ask our customers! You don’t have to be a computer scientist to start implementing our software for your communities. Designed with the average user in mind, Smartwebs was made for HOAs, it’s in our DNA. Smartwebs can quickly adapt to your usage plan. As your community grows, so do your software needs. With our cloud-based software, you can easily scale your solution usage with little to no downtime. Moreover, you can access our solution anywhere on the planet where you have internet access.

Increased Security

In many circumstances, a cloud-based solution can keep your HOA’s information more secure and often more readily available than traditional software programs can. For instance, at Smartwebs, we perform regular and automated scans of our network to identify weaknesses and bolster security. We take your data seriously. This also significantly decreases the risk of downtime with our product offerings.