When Should My HOA Consider Self-Managing With Accounting Support? Over one third of condo communities and homeowner associations (HOAs) are self-managed. If you have 200 units/homes or less or have a high level of board participation you are a prime candidate to self-manage with support. By support I mean with financial management services, administrative services…
A trend in many industries over the last few decades has been to divide up work among narrowly focused specialists. The medical profession is a great example – no longer do you see a heart doctor but one that specializes in valves or heart arrhythmia procedures. So too community association management is getting more specialized…
Whether you are an accounting geek, a systems person or just want a deeper understanding of accounts payable we are about to get into the nitty gritty of AP. In a full service management company I was a partner of and President I implemented a powerful AP system in 2004 that provides greater tools and…
Life is busy enough let alone adding a condo community or homeowners’ association (HOA) volunteer role to your list of obligations, especially if you are a self-managed community. We have set out to design our community accounting service to make the entire life cycle of how you deal with our company simpler. We hope to…
A condo or homeowners’ association (HOA) going from full management to self-managed with Community Financials’ support experiences significant cost savings. However a self-managed community going from no cost to paying for a financial management service gets a new expense line item. Sometimes we get asked to answer what makes condo & HOA financial management expensive….
Your association may be larger and you decided you will get more attention by hiring a community manager directly. Some refer to this as an in-house manager, an onsite manager or like in Florida they refer to it as Manager managed – as opposed to Management Company managed. This manager though may not be able…
Are you a board member of a large scale community association? Are you reviewing your large scale community association accounting? You may refer to yourself as a Large Scale Association, A Planned Unit Development (PUD) or just a Planned Community. You may be a residential homeowners association, or condo community or maybe a mixed use…
You volunteered for the board and its more work than you anticipated. To reduce the board’s workload you are contemplating hiring a company to do the monthly bookkeeping tasks. You haven’t shopped for this type of service before so don’t feel 100% comfortable, but how to do you make the right choice? How do you…
Condo communities and homeowners’ associations are typically set up as non-profit corporations. Just like for-profit corporations they have monthly income and expenses. This income and expense require monthly accounting tasks be completed. So what is condo or HOA bookkeeping or financial management? It is a specialty bookkeeping service that has expertise in providing these monthly…
Russell Munz, Founder
Certified Manager of Community Associations (CMCA)
Expert Financial Oversight
Experience the difference with our professional financial services designed specifically for HOAs and condo associations. Simplify your finances with our expert support.
Need to change an existing consultation? Email info@communityfinancials.com
