HOA & Community Association Management

HOA management companies manage homeowner associations, condo associations, and community associations for volunteer boards.

Services include board meeting coordination and minutes, financial management and budgeting, vendor and contractor management, covenant enforcement, architectural review, community communications, and regulatory compliance.

You work with board members handling day-to-day operations they don't have time or expertise for.

Success requires understanding HOA law and governance, financial management and accounting, vendor and contractor relationships, diplomacy handling homeowner issues and board politics, and management software proficiency.

Pricing typically ranges from $10-30 per unit monthly for small to mid-size associations (50-500 units).

Managing 10 associations averaging 100 units each at $15/unit = $15,000 monthly revenue.

Startup costs include potential licensing (some states require), HOA management software, business formation and insurance (E&O critical), accounting setup for multiple association accounts, marketing materials, professional development and certifications (CMCA, AMS), and operating capital totaling $5,000-18,000.

Building client base involves networking with HOA board members, marketing to associations unhappy with current management or self-managing, real estate attorney and accountant referrals, taking over troubled associations, CAI (Community Associations Institute) membership and networking, targeting new developments needing initial management, and reputation for professionalism and responsiveness.

Revenue comes from monthly management fees per unit, potentially additional fees for violations processing, special projects, or consulting, annual meeting coordination, and reserve study facilitation.

Operating costs include software and technology, insurance (E&O and general liability), accounting and audit support, continuing education and certification, marketing, potentially office space and staff as you grow, and administrative time.

Challenges include managing board politics and volunteer dynamics, homeowner complaints and covenant enforcement, liability for board decisions or mistakes, boards sometimes terminate management without cause, budget constraints from associations, and dealing with delinquent homeowner assessments.

Success requires excellent communication and diplomacy, thorough knowledge of HOA law and best practices, strong vendor relationships for maintenance and projects, financial transparency and reporting, helping boards make good decisions without overstepping, potentially specializing in size or type of association, professional certifications adding credibility, and building reputation for stability and competence.

HOA management serves growing number of communities in associations.