OHI provides specialized accounting services for HOA and condo associations, helping community management companies scale operations and boost profitability. With expertise in residential real estate accounting, we address unique HOA challenges like fragmented customer bases and staffing issues.
Commercial & Residential (HOA Management Cos., Condo Management Cos., Single-Family, Multi-Family) Clients
Team Including CPAs, MBAs and Graduates
Serving 400+ HOAs (through our clients) and 300,000+ units
Staff with 6+ Years of HOA Accounting Experience
California | New York | Texas | Florida | Georgia | Ohio | Colorado | Kansas | Pennsylvania | Oregon | Washington And More
Homeowner Associations (HOA), Affordable Housing, Single Family Housing, Multifamily Apartments, Tax Credit & HUD Properties, Commercial, Student Housing, Retail, Industrial
The indicative standard charges for Accounts Payable Specialist and Property Accountant roles are listed below. Custom packages of 25, 50 and 80 hours per month are available.
Accounts Payable Specialist can perform activities such as 2 Way/3 Way matching of invoices with POs and GRs/Packing Slips, entry of invoices and utilities, coding of expenses, entering checks for further approval, tracking payables, vendor reconciliations and other miscellaneous accounts payable activities.
Property Accountant can provide the following accounting services- General ledger accounting, payroll, bank reconciliations, inter-company accounting, monthly closing of books including finalization and simple monthly reporting with variance analysis.
Most HOAs use accrual or modified cash basis accounting. Accrual accounting provides a more accurate view of dues, expenses, and reserve fund balances.
HOA stands for Homeowners Association accounting, which tracks member dues, common area expenses, budgets, and reserve funds for community maintenance.
Key records include general ledgers, income and expense statements, balance sheets, reserve fund schedules, accounts receivable for dues, and accounts payable for vendors.
Audit requirements vary by state and association bylaws. Some HOAs must undergo annual audits if revenue exceeds a certain threshold, while others leave it to the board or homeowners to decide.
Outsourcing ensures accurate bookkeeping, timely financial reports, regulatory compliance, and transparent fund management, reducing disputes among homeowners and board members.
Many associations use HOA-specific or real estate accounting software to manage dues, track expenses, handle reserve funds, and provide portals for homeowners.
HOA dues are calculated based on operating budgets, maintenance costs, and reserve contributions, then recorded as receivables and tracked against each homeowner’s account.
Regular financial reporting, detailed reserve fund tracking, and clear documentation of expenses allow homeowners to see exactly how their dues are used, building confidence and reducing conflicts.