Numerus HOA Services

 Keeping good minutes is a necessity for every board meeting. Good minutes serves multiple purposes including: keeping your board organized, keeping the board on task, and keeping your board transparent for the members. Many states have requirements that HOAs should keep meeting minutes of all board members, whether through HOA specific laws, or through the state's nonprofit corporation laws. And in most cases, the HOA is legally obligated to furnish the meetings to an owner upon receiving a request. If you're not taking minutes now, or maybe you're a new HOA board member and need some help, you've come to the right place! What are HOA board meeting minutes? Homeowner associations are nonprofit corporations or cooperatives ran by a volunteer group of homeowners called the HOA board. Much like any board of directors, whether in a company or a nonprofit organization, regular meetings are held to discuss business and to handle issues in the organization. HOA boards will me...

  Understanding HOA Budgets: Basics, Tips, and Common Mistakes A well-managed budget is critical to ensuring the long term financial stability of a community. A good budget not only ensures that the HOA can meet its responsibilities, but also lays the groundwork for maintaining property values and ensuring long term expenses are properly accounted for. We'll get into the basics of an HOA budget, share tips for creating one, and outline some common mistakes that HOA boards often make when creating their budget. What Is an HOA Budget? An HOA budget is a financial plan that outlines how the association will allocate its funds over a specific period, usually a fiscal year. It covers all projected income and expenses, ensuring that the association can effectively manage the community. The budget typically includes: Income : Funds collected from members through monthly dues, special assessments, or other sources like clubhouse rentals. Operating Expenses : Ro...

Understanding your HOA's financial statements are a vital necessity for board members, and homeowners too. You don't need to be a professional accountant or bookkeeper or know the differences between debit and credit (and we're not talking about credit and debit cards), but it helps to understand what the basic financial statements look like, what they mean, and how it impacts your association. In a previous article, we wrote about balance sheets for HOAs . If you didn't read that article, you may want to take a moment to go back and read it. If you think of a balance sheet as a "snap shot" of the HOA's financial situation at a given point in time, you can think of an income statement as a summary of the financial activity for the reported period. HOA income statements are normally prepared on a monthly basis, but you may see them prepared for a quarter, or even an entire fiscal year. An income statement goes by different names. In corporate finance, it...

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...

When it comes to managing homeowner associations, you're going to find a wide variety of opinions on the subject, as well as HOAs in general. Some board members refuse to have an outside company and insist on doing everything themselves. Other board members are too busy, too inexperienced, or too burned out and want to have a company. Whatever the reason might be for hiring an hoa management company for your homeowner or condominium association, is to understand WHY you want to hire one, weigh the pros and cons, and then make an informed decision. Unfortunately, we've seen many people have misconceptions about HOA management companies and we hope to clear the air a bit. First, we'll start with intent. Intent Some board members, and even homeowners, view the management company as "the bad guy." Angry homeowners will blame the management company as the overbearing rule enforcer who's making their lives miserable and is just there to take the money from the home...

Understanding how your HOA is governed does not require a legal degree or a licensed attorney. That said, if there are conflicts in the language, or you’re looking to change your governing documents, then an attorney will be beneficial. More on that later. First, let’s dive into how HOA’s are governed, the laws around them, the governing documents, and how this all applies to your associations. Why are homeowner associations created in the first place? In short, an HOA is established to maintain and preserve the common elements of the community. These common elements can vary depending on the type of association that you live in. Some associations are responsible for maintaining the exterior of the units and the roofs. This is more typical of a condominium and some townhome developments. Other common elements may include roads, parking lots or garages, sidewalks, playgrounds, a community pool, fitness and recreational areas, and more. As a member of the homeowner’s association, you are...