The Most Important HOA Checklists You Should Have

Running a homeowners association can be tough, especially if you don’t know where to start. As a board member, you often need a guide of sorts to keep up with all your tasks. Luckily, these HOA checklists are designed to help you stay on track.

Your Ultimate HOA Checklists Guide

Homeowners associations require a lot of work to keep everything operating smoothly. Every year, the HOA board must prepare for the year ahead, plan the budget, stay on top of property maintenance, and schedule audits. Without a proper guide, it can be easy to forget critical items. That’s why we’ve put together these HOA checklist templates for you.

HOA Yearly Checklist

Let’s start with a general checklist that every homeowners association will need for the year. What should you include in your annual checklist?

• Governing documents
  • Update physical and digital copies
  • Reupload to the HOA website
  • File with the SCC and local jurisdiction land recorder
• Annual Report
  • Create the annual report
  • Review the annual report
  • Distribute the annual report to all members
  • Make a copy of the annual report
  • Store the annual report digitally and physically
• Audit
  • Collect all financial statements
  • Send statements to CPA
  • Give CPA access to HOA records
  • Approve audit report
  • Copy audit documents
  • File audit documents
• Taxes
  • Schedule tax preparation
  • Consult tax professional
  • File tax return form 1120 or 1120-H on or before the deadline
• Budget and dues
  • Prepare budget
  • Calculate monthly dues
• Insurance
  • Evaluate current policies
  • Contact provider to ask about premium increases
• Annual meeting
  • Schedule annual meeting
  • Prepare for the annual meeting events (such as HOA elections)
• Schedule board meetings
• Schedule committee meetings
• Plan for major construction or renovation projects
• Schedule special events
• Schedule newsletter distribution

Download Your HOA Yearly Checklist Here

Governing Documents

Make sure all copies of your governing documents are up-to-date, whether they’re hard copies or soft copies. If you have an HOA website, don’t forget to update that, too. You should also file your updated governing documents with the SCC and your local jurisdiction land records.

Annual Report

A majority of states require HOAs to produce an annual report. Thus, you should give yourself time to prepare this annual report and review it after the first draft. Once you have finalized it, you can then distribute it to all members. Plus, don’t forget to make a copy of the report for storage.

Audits

You should schedule your audits to take place as soon as the previous fiscal year closes. Not every HOA will require annual audits, as state laws and your governing documents have varying provisions on them. For example, according to Florida law, associations with total revenue of $500,000 or more must prepare audited financial statements.

Taxes

Association taxes must be filed on or before the deadline, which is usually March 15. As such, you must schedule tax preparation ahead of time, ideally in February.

Budget and Dues

You must also make time in your calendar for budget preparation and dues calculation. Planning for the following year’s budget and dues usually takes place in the middle of the current year.

Insurance

Evaluating your active insurance policies will give you the opportunity to identify gaps in your coverage. It’s also worth contacting your provider to see if there will be any increases in premiums.

Annual Meeting

Your governing documents should tell you when to hold your annual meeting. Make sure to notify homeowners of the annual meeting accordingly and plan for any events that will take place during the meeting such as HOA elections.

Board Meetings

It’s a good idea to plan your board meeting dates and times at the start of the year. Make sure to comply with the requirements set forth in your governing documents.

Committee Meetings

After scheduling your board meetings, you can then move on to scheduling committee meetings. Generally, it’s best to hold committee meetings a week or so before board meetings to give committees time to prepare for their presentations.

Constructions or Renovations

If you’re expecting any major construction or renovation projects, make sure to include them in your yearly checklist. Scheduling these projects ahead of time will give you a chance to plan for them and notify homeowners.

Special Events

If your HOA has any upcoming special events, make sure to include them in your checklist. This way, you don’t forget to plan for them and notify homeowners of the appropriate dates and times. It’s also a good idea to include holidays in your checklist to plan for office closures and employee holiday leaves.

Newsletter

If your HOA distributes newsletters, schedule the distribution cycle and put the dates in your yearly checklist. In doing so, the person/s in charge of the newsletter can stay on track.

HOA Budget Preparation Checklist

Preparing your HOA budget is a critical part of ensuring financial success for your community. With a proper budget, you can plan your association’s expenses and calculate your monthly dues accordingly. It’s undoubtedly one of the most important HOA checklists you should have.

Here’s what to include in your HOA budget preparation checklist:

• Schedule a target date for approving the budget
• Review your current financial health
  • Assess the most recent HOA budget
  • Analyze notable variances
• Set goals
  • Outline your budgetary goals
  • Decide how to achieve those goals
• Estimate expenses
  • List down all HOA expenses for the year
  • Compute the average monthly cost for each expense
  • Tally the total projected expenses
• Estimate revenue
  • List down all revenue sources
  • Compute the average monthly revenue from each source
  • Tally the total projected revenue
• Input all items and numbers in a spreadsheet
• Finalize the budget
• Approve the annual budget

Download Your HOA Budget Preparation Checklist Here

HOA Maintenance Checklist

Every homeowners association should go through regular inspection and maintenance. This way, you can catch minor issues early on and prevent them from becoming major ones. Here are the things you should include in your HOA or condo maintenance checklist:

• Exterior
  • Foundation
  • Walls
  • Paint
  • Doors
  • Windows
  • Roofs
  • Gutters
  • Storm drains
  • Vents
  • Patios
  • Wood decks
  • Driveway
  • Electrical supply boxes
  • Satellites
  • Pest control
• Interior
  • Walls
  • Flooring
  • Roofs (for leaks)
  • Screens
  • Vents (including attic)
• Utilities
  • Electrical lines
  • Water lines
  • Phone lines
  • Gas lines
  • Air conditioners
  • Heaters
  • Furnace
  • Sewage system
• Common areas
  • Roads and asphalt
  • Sidewalks
  • Roofs
  • Gutters
  • Downspouts
  • Yards and lawns
  • Landscaping (tree trimming, irrigation systems, etc.)
  • Fences
  • Security cameras
  • Computers
  • Security system (software)
  • Vehicle entry gates
  • Parking lots
  • Trash collection
• Write a maintenance report
• Identify action items
• Approve the maintenance report and action items

It’s also a good idea to mark the condition of each item and allow space for comments.

Download Your HOA Property Inspection Checklist Template Here

HOA Audit Checklist

Depending on your state laws, your HOA may need to conduct audits every year. For instance, under Florida law, associations with total revenues of $500,000 and upwards must prepare audited financial statements. Your governing documents may also contain provisions concerning how often you must perform an audit.

Here are the things you must include in your HOA audit checklist:

• Decide on the objectives of the audit
• Schedule fieldwork times
• Set an audit report deadline
• Confirm audit fees
• Pre-audit
  • Gather and collate all HOA financial statements
  • Send statements to CPA
  • Give CPA access to HOA records
• Evaluating risk
  • Analyze audited financial statements (most recent)
  • Review IRS tax returns
  • Examine the annual budget
  • Review board meeting minutes
• Fieldwork
  • Analyze the income statement
  • Analyze the balance sheet
  • Review vendor contracts
  • Examine bank reconciliations and statements
  • Go through payroll records
  • Verify proof of ownership of equipment, land, and buildings
• Audit report
  • Confirm audit
  • Review audit report draft
  • Approve audit report

Some of the financial statements and records you will need to submit to the CPA for review include:

• 1099s for HOA contractors
• Annual budgets
• Annual IRS tax returns
• Assessments receivables
• Bank reconciliations
• Bank statements
• Board meeting minutes
• Financial statements (balance sheet, income statement, etc.)
• Insurance policies
• Investment information
• Paid invoices
• Payroll records
• Proof of ownership
• Reserve schedules
• Signed contracts and leases
• Vendor contracts

Download Your HOA Audit Checklist Here

HOA Home Cleaning Checklist

Although HOAs aren’t responsible for individual homeowner property, it would help to provide members with a checklist for home cleaning. You can distribute this checklist physically or upload it to your HOA website. Alternatively, if you have a newsletter, you can also include this checklist there. Homeowners will appreciate the reminder and extra help from the association.

Here’s what to include in an HOA home cleaning checklist:

• Exterior
  • Wash windows
  • Clean outdoor spaces (decks, patios, and balconies)
  • Clean the pool
  • Mow the lawn
  • Trim the bushes
  • Pressure wash the driveway
• Living Room
  • Dust everything
  • Sweep or vacuum the floor
  • Mop the floor
  • Clean light fixtures
  • Wash windows
  • Vacuum or wash the carpet
  • Examine furniture for marks
• Kitchen
  • Dust everything
  • Sweep or vacuum the floor
  • Mop the floor
  • Clean light fixtures
  • Wash windows
  • Clean cupboard exterior and interior
  • Wipe and disinfect countertops
  • Scrub the sink
  • Clean the stove
  • Clean the kitchen hood
• Bathroom
  • Sweep or vacuum the floor
  • Mop the floor
  • Clean light fixtures
  • Wash windows
  • Wash the mirrors
  • Scrub the toilet
  • Scrub the bathtub
  • Clean the shower area
• Bedroom
  • Dust everything
  • Sweep or vacuum the floor
  • Mop the floor
  • Clean light fixtures
  • Wash windows
  • Vacuum or wash the carpet
  • Examine furniture for marks
  • Replace sheets and pillowcases

HOA Transition Checklist

Homeowners associations usually start out under the control of the developers of the planned community. When it’s time to pass on the control to the residents, HOAs go through a transition process. To facilitate a smooth transition, use the checklist below:

• General documents and finances
  • Pass all necessary documentation
  • Examine financial statements and records
  • Perform an audit
  • Perform a reserve study
  • Review insurance policies and ensure sufficient coverage
• Property inspection
  • Hire an engineer to survey all properties
  • Perform property inspection
  • Document property inspection
• Legal matters
  • Hire an HOA attorney
  • Verify compliance with federal, state, and local laws
  • Review governing documents
  • Enforce CC&Rs
• Board of directors
  • Elect board members
  • Form board committees
• Finalizing transition
  • Verify all documents have been received from the developer
  • Schedule follow-up turnover meeting date

Download Your HOA Transition Checklist Here

An Easier Time All-Around

Successful homeowners associations make sure to always plan ahead. One of the best ways to do that is to come up with HOA checklists for various important tasks. We’ve made it easy for you with these downloadable templates.

Another way to ensure day-to-day operations run smoothly is to hire an HOA management company. If you’re looking for one in your area, use our online directory to make the search easier.

RELATED ARTICLES:

• Why Is An HOA Annual Audit Necessary?
• 5 Valuable Tips When Hiring HOA Maintenance Company
• How To Plan For Your HOA Budget