More and more communities are opting to self-manage their Homeowner Associations (HOAs) or Condo Associations. Why? Because it offers a level of control, transparency, and cost-savings that many traditional homeowner association property management companies can’t always deliver. But managing an HOA or Condo Association is no small feat. Without the right systems and strategies, self-management can quickly become overwhelming. That's where this guide comes in.

In this comprehensive post, we’ll cover the top 10 best practices for HOAs to self-manage effectively. Whether you’re a small, tight-knit community or a larger, more complex association, these best practices will help you maintain compliance, build trust, and ensure your community thrives.

While we believe that self-managing isn’t the best fit for every community, we also recognize the important role property managers play. However, there are instances where communities outsource management simply because they believe they don’t have the tools to handle it themselves. In reality, with the right systems and support, like Solume, many communities could successfully self-manage and save thousands of dollars each year.

Establish Clear Governance Documents and Procedures

The foundation of any successful HOA is its governance documents. Your community’s bylaws, Covenants, Conditions, and Restrictions (CC&Rs), and other legal documents should be up-to-date, accessible, and clear. These documents not only outline the roles and responsibilities of the board members but also set the framework for decision-making, conflict resolution, and community standards.

Why it matters: Without clear governance documents, disputes can arise, and board decisions may lack the necessary authority. By adhering to these documents, you ensure consistency and fairness.

How Solume helps: With Solume’s AI-powered platform, managing your CC&Rs and bylaws becomes much easier. You can upload your governing documents, and the Solume Assistant will help you interpret these legal clauses, giving you quick answers to common governance questions. Many HOA boards Google “hoa management near me” for solutions to address complex legal issues—Solume provides real-time guidance that helps you stay compliant with local, state, and federal laws, ensuring you are always operating within your legal framework rather than outsourcing your management due to CC&R intimidation.

Develop a Transparent Financial Management System

A transparent financial management system is essential for running a successful HOA. Regularly updating your community on its financial health—via clear budgets, comprehensive reports, and financial records—builds trust among residents and avoids future disputes.

Most HOAs use separate accounting systems like QuickBooks or other third-party solutions. But here’s the thing: Why use several different software programs when Solume provides everything you need?

Solume integrates your accounting needs: You can track dues, fines, and even your reserve fund contributions. Unlike many hoa management companies that take days or even weeks to get back to you, with Solume all your accounting details are at your fingertips. Solume consolidates all your accounting features into one easy-to-use platform. Plus, the system allows you to provide financial transparency to your residents by making budgets and transactions available for review.

Create a Regular Maintenance Schedule

Proper maintenance is the cornerstone of preserving property values and keeping residents happy. An effective maintenance plan outlines the routine inspections, repairs, and upkeep of common areas, ensuring everything stays in top condition and costly emergency repairs are avoided.

How Solume solves this: Solume provides an action-item scheduling feature that allows you to manage maintenance tasks and vendor procurement all in one place. Need to find a local contractor? Solume has a vendor database that simplifies the procurement process, helping you get quotes and choose the best vendor for the job. All the communication with vendors can be done directly through the platform, so everything is centralized and easy to track. This is far more efficient than juggling several systems or waiting for a big-box community management company to secure a vendor.

Ensure Compliance with Local, State, and Federal Laws

Managing an HOA or condo association also means ensuring compliance with ever-changing laws. Whether it’s adhering to bylaws, staying in line with local ordinances, or making sure your community meets state regulations, the legal landscape can be overwhelming for many boards.

Solume’s advantage: If your governing documents are unclear, Solume’s AI-powered assistant can provide clarity. For example, many boards struggle to interpret certain clauses in their CC&Rs, but Solume can help you avoid mistakes by guiding you through gray areas. And if your documents don’t cover a particular situation, Solume Assistant could help you understand relevant local, state, or federal laws that apply.

Condominium association management can be particularly complex, but with Solume, you always have a guide on your side to reduce the risk of liability for non-compliance.

Foster Clear and Open Communication with Residents

Clear communication is crucial in fostering trust and transparency within your community. Many residents complain that they don’t know what the board is doing, which leads to unnecessary friction.

Key strategies:

  • Use emails, social media, and community websites to keep residents updated on meetings, decisions, and maintenance schedules.
  • With Solume, you can communicate with your residents in a centralized platform. Store and share all important documents, updates, and financial reports in one place, making it easy to keep residents informed.

Solume also removes the issue of lost communication when board members rotate out. By centralizing communication in the system, all historical records are preserved, and new board members and residents can easily access the information they need.

Establish and Enforce Rules Consistently

When it comes to running an HOA or condo association, consistency is key. Enforcing rules fairly across the board prevents disputes and ensures harmony within the community. When enforcement is inconsistent, it leads to confusion, frustration, and feelings of unfair treatment.

The challenge: Most boards don’t want to feel like they’re the "bad guys" constantly policing the rules. With Solume, violations can be tracked and handled without bias. All board members can access the system to see how and when rules have been enforced, ensuring consistency across the board.

Conduct Regular Board Meetings and Annual Elections

Regular board meetings are essential for keeping the community on track. During these meetings, important decisions are made regarding finances, upcoming projects, and rule enforcement. Annual elections ensure that the board remains democratic and reflective of the community's needs.

Tip: Refer to your CC&Rs or bylaws to determine the required frequency of your meetings—whether quarterly or annually. Solume can help you schedule and track all your board meetings, making it easy to keep minutes, set agendas, and track attendance. This transparency builds trust with your residents and helps maintain a clear record of decision-making.

Invest in Education and Training for Board Members

Running a self-managed HOA requires up-to-date knowledge of best practices, legal updates, and governance strategies. Training is essential to keep board members equipped with the tools and knowledge they need to manage the community effectively.

Solume’s educational resources: While Solume doesn’t offer formal training, we do provide helpful e-books (like A Complete Guide to Reserve Studies!) and regularly updated blog content to keep you informed. Additionally, organizations like the Community Associations Institute (CAI) offer more in-depth training for HOA boards.

Develop a Comprehensive Reserve Study and Fund

Having a long-term plan for major repairs and replacements is critical to the financial health of any HOA. Conducting a reserve study helps assess future needs and ensures that your reserve fund is properly funded to cover expenses.

Solume’s dynamic reserve study integration: Unlike traditional reserve studies, which often become static documents that sit on a shelf, Solume turns your reserve study into a dynamic financial tool. As your community completes maintenance or replacements, Solume automatically updates your reserve study in real-time, giving you accurate financial projections and reducing the risk of special assessments.

Contributing to the reserve fund is legally required in many states, including Florida and California. The reserve fund is used for major repairs and unexpected expenses, ensuring that the community remains financially stable without requiring special assessments. Failure to maintain an adequate reserve fund can leave the HOA in a difficult financial position.

Use Technology to Streamline Operations

With all the responsibilities of managing an HOA, leveraging technology is crucial for streamlining operations. Many HOAs piece together several different tools to manage finances, schedule maintenance, communicate with residents, and enforce rules.

Why Solume is the solution: Solume is the all-in-one HOA management solution. From tracking dues and managing vendor contracts to scheduling tasks and keeping up with your governing documents, Solume consolidates everything into one easy-to-use platform. Whether you’re a small homeowners association or a large condominium association, Solume scales with your needs and simplifies the entire management process.

Self-managing an HOA may seem like a daunting task, but with the right systems and strategies in place, it’s not only manageable—it’s efficient. By adopting these best practices, you can ensure your community stays compliant, well-maintained, and financially sound.