MicroHOA | Financial Management for Small HOAs

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Small HOAs, Big Responsibilities

Small Homeowners Associations have the same obligations as big communities: they must keep their community looking good, maintained properly, and in compliance with financial and legal requirements for all HOAs. 

Small HOAs must keep up with professional services such as landscaping, building maintenance, painting, gutter cleaning, storm repair, security, insurance, banking, water and sewer metering, and many other services unique to each community. The small HOA board must also respond to owner concerns, keep owner dues current, maintain payments to vendors, keep up the legal requirements of the organization, and more.  

Small community boards work hard to keep their HOAs in shape. 

An HOA is essentially a small business---it is a legal entity registered with the state, with the same requirements that all businesses have.  Volunteer board members must be bookkeepers, collection agents, administrative managers, communicators, landscape managers, building inspectors, mortgage document fulfillment pros, and mediators. To be successful as a self-managed homeowners association, board members must invest lots of time and have enough experience for each role.  Most HOAs are non-profit entities (are you sure yours is registered that way?) so required business and tax filings are not complicated, but they do still have to be done.  

Larger communities turn to professional homeowners association managers.

These organizations provide support and are resourced with staff experienced in all the very different skill sets of community management.  These professional managers take the burden of management activities off board volunteers. 

This kind of support isn’t usually accessible to small HOAs for one reason:  it’s expensive.  Large HOAs spread the costs over more members, so it works.  But that math doesn’t work for HOAs under 30 members or so.  

Small HOAs either spend too much, or self-manage. 

And self-management can seem like a good option.  It seems to save money and keep HOAs fees low.  But someone—in this case, the volunteers who step up for their community---end up with a big time and effort investment, frequently with skills they don’t have experience in.  It’s also common for small HOA boards to not even be aware of what’s required to keep their community in compliance financially and legally.  It’s a matter of a very few doing a ton of work, to save the others the responsibility of chipping in for their shared community.  

Now, small HOAs have an option for financial management and support. 

MicroHOA is providing support with the ongoing financial and legal needs that all small HOAs have, at a price that makes sense.  And MicroHOA provides small communities  an online portal for easy dues billing and payments, and total access to community finances and records.  

MicroHOA can support the people living in small HOAs by taking the day-in day-out financial management off of the volunteers, and keeping the community financially and legally in great shape. 

If your community could use our help, please reach out.  You’re the reason we’re here!