Self-managed HOAs are communities that choose to manage themselves instead of relying on professional management companies. This gives the community more freedom and can be a more budget-friendly option for some HOAs.
But when a management company and property management company don’t oversee the community’s day-to-day tasks, they fall to the Board of Directors.
The key responsibilities of running an HOA without a management company are maintaining the community’s finances, enforcing the governing documents, maintaining regular maintenance, and ensuring clear and consistent community communication. HOAs must hold regular board meetings when self-managed to promote transparency and community engagement.
With HOA My Way, self-managed communities have pro-level tools to tackle their community tasks, as well as complete accounting services to assist with financial management and provide professional accounting guidance.
Our hybrid solution gives self-managed communities the confidence they need to run their HOA without a management company.
Understanding the Basics of HOA Self-Management
Self-managed HOAs are responsible for keeping the community running beautifully and efficiently. The Board of Directors handles all HOA tasks, such as hiring vendors, reviewing their work, collecting homeowner dues, and building yearly budgets.
Without professional management, the Board must be comfortable enforcing compliance violations, reviewing architectural requests, and running effective board meetings.
To keep organized, Boards should assign clear action items to Board Members so that it’s clear who handles a specific task. Establishing clear roles and duties for each Board Member is also crucial. This could be based on their Director position, where the treasurer handles the finances, for example.
HOAs choose self-management for many reasons. Some choose self-management because it’s a cost-effective option to transition to professional community management, while others select self-management for complete autonomy and freedom. HOA My Way offers a solution for every self-managed community.
Effective HOA Financial Management
Self-managed HOAs need to stay organized, including the community’s finances. A budget is a great way to track the community’s spending and helps the Board of Directors remain within the community’s means.
Self-managed HOAs also have to handle their accounts payable and receivable. Accounts payable include processing invoices and paying vendors. Accounts receivable include collecting homeowner dues and tracking account balances.
These financial tasks can be time-consuming, but with HOA My Way’s hybrid solution, self-managed communities can enjoy the comforts of full-service bookkeeping while maintaining their autonomy.
HOA My Way offers top-tier accounting services and includes all the accounting tools your community could need, including a user-friendly budget builder and secure online homeowner payment options. Streamline your self-managed financial management with HOA My Way.
Conducting Regular Maintenance and Inspections
Without professional management doing regular checks, the Board of Directors must schedule consistent community inspections of the common areas and amenities to ensure vendors perform their contracted work and that all components function properly.
This can include pool gates, tot lots, and basketball courts. Monitoring your community’s assets can help you proactively identify and address any issues or repairs that need to be made.
Send work orders to vendors for repairs easily on the HOA My Way mobile app or online Board Portal. With just a few clicks, you can track your work orders and send vendor notes, maps, or pictures to help them accurately complete your request.
Ensuring Compliance with Governing Documents and Laws
HOAs have governing documents that dictate community rules and how the community is run. These include the CC&Rs (Covenants, Conditions, and Restrictions), Articles of Incorporation, Bylaws, adopted Rules & Regulations, and Architectural Design Guidelines.
The CC&Rs cover the community’s use restrictions and set the rules everyone must abide by. The Bylaws outline how the Board of Directors should be set up and how the community votes. Communities can also adopt Rules and Regulations that expand on their CC&Rs and Architectural Design Guidelines, providing more detail on the community’s aesthetic options.
The Board of Directors’ fiduciary duty is to uphold the HOA’s governing documents and abide by local, state, and federal laws. This means the Board must provide community compliance per the governing documents, which entails sending homeowners compliance violations when they have broken a condition in the CC&Rs. HOAs must perform uniform compliance and treat all homeowners equally.
HOA My Way has the tools to take the guesswork out of community compliance. We’ve made it easy for self-managed HOAs to navigate their compliance process on the Board Portal and our exclusive mobile app.
Enhancing Community Engagement and Communication
Fostering a strong sense of community among homeowners is essential, and there are a few easy ways to accomplish this.
One way is through clear and consistent communication. This includes regularly scheduled board meetings, email updates, and transparency.
With HOA My Way’s communication tools and board meeting workflows, you can easily enhance your community’s communication and encourage homeowner engagement. There are mass email, mail, and text message tools that make it a breeze to keep your community connected.
Handling Disputes and Conflict Resolution
Though we always hope to get along, it’s helpful to proactively prepare for handling disputes and conflict resolution.
Familiar sources of disputes in HOAs include compliance issues, architectural changes without approval, and neighbor-to-neighbor conflicts.
It’s important to review your governing document before you begin handling serious disputes, as some HOA governing documents include options for conflict resolution.
Planning and Conducting Successful Board Meetings
Scheduling regular board meetings is essential for self-managed communities. It allows the HOA to conduct business, encourages homeowner participation, and enhances community transparency.
Robert’s Rules of Order are crucial to conducting efficient board meetings. They provide a guide map for a productive meeting by explaining how the meeting should flow, how motions are made, and how motions are passed.
It’s also essential that clear meeting minutes are taken and maintained for the community. This allows homeowners to see what business was conducted at the board meeting and provides a record of board actions for the HOA.
With HOA My Way’s comprehensive board meeting tools, you can schedule board meetings, create agendas, compile board packages, and post meeting minutes for homeowners to view.
Leveraging Technology for HOA Self-Management
Busy board members can be overwhelmed with tasks, but technology can simplify self-management and make it accessible.
Automation and professional-level workflows set HOA My Way apart. Not only do we have a cloud-based Board Portal that’s accessible 24/7 from anywhere in the world with real-time data, but we also have an exclusive mobile app (available for both Apple and Android) to tackle tasks on the go. HOA My Way was built with self-managed communities in mind and crafted to include the tools they need.
Successful self-managed HOAs have consistent communication, financial awareness, and true ownership in maintaining their community. HOA My Way is your one-stop shop for self-managed communities. Our unique hybrid solution gives self-managed HOAs the freedom they want and peace of mind with professional accounting services. It’s the best of both worlds.
Discover the difference our hybrid solution can make. Contact HOA My Way today for a free demo.