HOA Accounting Services | Accounting For Condo Associations
OHI specializes in providing services of accounting for HOA/Condo associations to community management companies serving the homeowners association (HOA) market. With our unparalleled expertise in residential real estate accounting and a skilled team, we have successfully assisted numerous HOA management companies in scaling up their operations and boosting profitability.
Our team comprises experienced Junior Accountants and Property Accountants who offer accounting for condo associations services at cost-effective rates. They possess extensive knowledge in popular software platforms such as Condo Manager, Yardi Voyager, Appfolio, Buildum, QuickBooks, and Caliber. Our comprehensive accounting solutions have been trusted by over 120+ management companies across California, New York, Texas, Florida, Colorado, Washington, Massachusetts, and other states.
At OHI, we understand the unique challenges faced by homeowners association accounting companies, including a fragmented customer base, thin margins, limited revenue potential per HOA, and staffing difficulties. By leveraging our expertise and efficient accounting services, we enable our clients to overcome these challenges and achieve sustainable growth. Contact us for expert condo/homeowners association accounting services tailored to the needs of condo associations and homeowners associations.
40-60% cost savings compared to in-house hired staff
Staff with 6+ years of HOA accounting experience
Daily receipting and payables, timely reconciliations and financials
Our Credentials
120+
Commercial & Residential (HOA Management Cos., Condo Management Cos., Single-Family, Multi-Family) Clients
300+
Team Including CPAs, MBAs and Graduates
400+
Serving 400+ HOAs (through our clients) and 200,000+ units
6+
Staff with 6+ Years of HOA Accounting Experience
Clients Across USA
California | New York | Texas | Florida | Georgia | Ohio | Colorado | Kansas | Pennsylvania | Oregon | Washington And More
Key Real Estate Sectors
Homeowner Associations (HOA), Affordable Housing, Single Family Housing, Multifamily Apartments, Tax Credit & HUD Properties, Commercial, Student Housing, Retail, Industrial
We Serve Seven of the Top 50 Real Estate Managers in USA
Our Services
HOA/Condo Accounting
Accounts Payable
- Entry of invoices with detailed notes and proper matching with POs/WorkOrders
- Entry of Utilities Including Auto-Paid Bills after checking for service periods, prior credits and due-dates
- Posting/Processing of vendor payments through Checks/ACH/Credit Cards in a maker-approver processing mode
Monthly Billing and Accounts Receivable
- Billing to Owners for HOA dues and assessments
- Posting of Customer Receipts with daily/weekly reports
- Receivables reporting and email-based follow-up
Bank Reconciliations
- Monthly bank reconciliations of Operating (Checking), Savings, Money market and other account reconciliations with detailed information on reconciling items
Financial Reporting
- Comprehensive Monthly Financial Reports- Income-Expense statements, Balance sheet, Delinquencies Reports, Payables, Reconciliation Reports, General Ledger and Budget Analysis
Budgeting and Projections
- Yearly Budgets, Income and Expense Projections
Administrative
- Drafting of Delinquency notices, breach notices and HOA violation letters
* Not an exhaustive list
Interested In Knowing More
Watch it in Action
Software Expertise
Pricing
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.
Staff Profiles
Accounts Payable Specialist
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
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.
Our Blog
6 Practical Reasons Why You Should Outsource HOA Accounting
If you manage a homeowners association and intend to cut costs, you should consider outsourcing accounting to a professional financial services firm. Outsource HOA accounting is an economical solution that can save your association a large sum of money in […]
- May 25, 2020
- admin@ohi
What is the Difference Between Condo Strata HOA and Co-Op Association?
When you speak to a real estate broker before buying an apartment, you come across a lot of jargon which might sound confusing. Do the words Condo Strata HOA and Co-op associations sound familiar to you? If they are, then […]
- March 6, 2020
- admin@ohi
Contact Us
FAQ
HOA/Condo Management Accounting refers to the specialized accounting services tailored specifically for Homeowners Association (HOA) and Condominium Management companies. These accounting services are designed to meet the unique financial needs and regulatory requirements of HOA/Condo Management companies.
HOA/Condo Management Companies handle complex financial operations that involve budgeting, collecting dues, paying vendors, managing reserves, and financial reporting. Specialized accounting services ensure accurate record-keeping, compliance with industry regulations, and transparent financial reporting to stakeholders such as homeowners, board members, and regulatory authorities.