Numerus HOA Services

When it comes to hiring a management company for your homeowners association, there are many factors the board needs to consider. Is your association currently self managed, or will it be transitioning from a management company? How large is the association? Are there any amenities such as a pool or clubhouse that need to be maintained? How active is your board? And, last but not least important, can the association afford to hire an HOA management company? Self Managed vs. HOA Management Company First, let's look at what it means to be a self managed company and what is involved with hiring a management company. If you're new to the board, or you've never hired a management company before, don't skip over this. Homeowner associations have a board of directors, or sometimes called a board of trustees, that are elected by the members of the association. These volunteer homeowners are the ones that are ultimately responsible for conducting the business affairs of the asso...

There are many facets involved with managing a homeowners association - finances, collections, insurance, maintenance, rule enforcement, record keeping, and the list goes on. For larger associations, this usually means enlisting the help of a management firm or a property manager to take care of these tasks. Many associations do not need a full service management company, or perhaps don't have the budget to afford one. These could be smaller condominium developments or single family HOA subdivisions with limited maintenance requirements. There are few options for smaller associations: Remote HOA Management for Small HOAs Numerus provides remote HOA management  remote HOA management that is designed with smaller associations in mind. Numerus provides a majority of the services of a local HOA management company at a fraction of the cost. In summary, Numerus handles all of the "paper work" and administrative duties of the association: Collection of HOA dues with multiple pa...

 When it comes to managing your association, the volunteer board may find that that it's too time consuming or difficult with all of your other responsibilities. After all, many board members have families, careers, and other life issues that will all take precedent over their HOA duties. An HOA management company can help reduce this burden. However, it's important to keep in mind it is not a magic pill that will cure all of the problems. Many board members rush into making a decision and hiring a company because they're burned out, cannot get volunteers, and just don't have enough time to volunteer as much as they would like. Or maybe the board has already hired a management company, and they're tired of the unsatisfactory performance, and so they want to replace them. It is important to understand that hiring the right management company can have major consequences and lasting impacts on your community. It is best to avoid knee jerk reactions and to perform prop...

  What is a balance sheet and why is important for my HOA to provide one? A balance sheet is a financial statement that provides a snapshot of what an organization owns, and also what it owes to other entities. Where an income statement shows a summary of financial activity over time, a balance sheet is a snapshot at a particular point in time. It is one of the most important documents for managers and board members of a Homeowners Association (HOA) to understand because it provides a snapshot of the association’s financial health. What is a Balance Sheet? A balance sheet is divided into two parts that, based on the following equation, must equal each other or balance each other out: Assets = Liabilities + Equity Assets : These are what the HOA owns—such as bank accounts, investments, buildings, and equipment. Liabilities : These are what the HOA owes to others—like loans, unpaid bills, etc. Equity : Also known as net assets, equity represents the owne...