Management Service Details
Monthly Service Fee
The MyHOA-online.com LLC and back office management service rate may include but is not limited to:
- MyHOA-online.com LLC Web application account for your HOA.
- Includes individual user accounts for all HOA members.
- Board of Directors has management access to all accounts.
- Accounts payable and receivable.
- Direct coordination with all regular contractors and vendors except those that have been specifically arranged for by the members of the HOA Board of Directors.
- All business mailings and invoices to homeowners.
- Delinquency Notices.
- Violation Warnings/Fine Notices.
- Paying bills.
- 2 general mailings per year (includes annual invoice). Additional mailings are billed at $50 per general mailing or $1 per home if customization is required such as parcels and names per mailing.
- Oversight and guidance on Issues Management – CC&R violations, ACC Requests and more.
- Coordination of the annual tax filing and review of financial accounts.
- Electronic records management (All records going forward, past 5 years if electronically available for import, additional years or manual data entry would require additional data entry fees)
- Physical records storage includes 4 bankers boxes, additional boxes at $2 each.
- MyHOA-online.com LLC management will attend annual and special meetings and Board meetings upon request.*
Items Charged Separately
- One-time setup fee equal to the cost of one month of service.
- Monthly Unified Communications Service Fee Includes:
- PO Box rental, voicemail & fax, all online services.
- Office supplies including, but not limited to, paper and envelopes, and printing expenses not covered by included mailings.
- Outside collection/legal services (reimbursed by homeowner in debt upon recovery).
- Escrow transfers (paid by buyer).
- Regular community property (parks, easements, etc.) inspections both with and without available board members.
- Excessive storage costs (both physical and virtual) exceeding 4 physical boxes and/or 500MB are not covered in the basic rate. $2 per box and/or $5 per each additional 500MB surcharge applies.
- Additional general mailings beyond the first 2 (see specific contract for details).
- ACH and other banking services charged directly by bank.
* MyHOA-online.com LLC can also host board meetings if desired. To avoid conflicting HOA meetings, arrangements must be made in advance with MyHOA-online.com LLC pursuant to availability.
What doesn't MyHOA-online.com LLC do?
MyHOA-online.com LLC is NOT intended to be a replacement for the HOA's Board of Directors. The best communities have strong HOA's and our service can make the job of the board much easier, but we do not act as a replacement for the board.
Day-to-day ongoing violations management. The online issues management tool makes reporting, tracking, resolving and archiving violations much easier, and we will offer guidance as needed; however, there's no substitute for dedicated homeowners in the community that volunteer time to make their community the best place possible to live and raise their families.
MyHOA-online.com LLC does not provide legal advice, only oversight and guidance. At the request of the board legal services can be obtained (at going rates) by our preferred law firm that specializes in HOA and property law. There is no markup on legal fees; the association pays the law firm directly.
MyHOA-online.com LLC is not a collection agency. We can refer you to our preferred agency or an attorney who does collections work if you wish, but we will handle all delinquency notices, amnesty letters, payment plans and lien warnings and filings. Should a homeowner get in arrears and require collections to recover the monies owed the association, the homeowner becomes responsible for any and all fees the association incurs such as lien recording fees and legal fees. The association pays “out-of-pocket”, and in advance, for all collection costs associated with the collection process, like lien filing. We currently do not charge to process liens, the only cost is to the county for filing and for certified mailings. Said costs are then recovered from the homeowner along with their balance in order to clear up any debt owed the association. Due to foreclosure, and other circumstances beyond our control, no guarantee is made or implied that any particular debt will be collected. Legal action requiring attorneys will only proceed against a homeowner at the written request of the board.
The core operation of MyHOA-online.com LLC is by definition “online” and all homeowners that are able are encouraged to participate in the HOA electronically. However, some homeowners prefer to not be online or conduct business online. Communications between the HOA and any homeowner who is offline can still be done via phone, fax or regular US Mail.
Contract Renewal and Cancellation
Once established, the service term lasts for one calendar year and is auto-renewed each year unless a 60-day notice of cancellation or service termination is given by either party prior to the renewal date. Service term changes will be sent out whenever they change; however, as most business is conducted online the HOA board will know exactly what is changing and may in fact be directly involved in any changes.
In the unlikely event that either party is no longer willing to continue the contract after the first year, a 60-day notice of cancellation or service termination must be given in writing prior to the renewal date. Any and all physical assets of the Association will be collected and transferred directly to the Association. If the HOA accesses the MyHOA-online.com LLC application via a custom domain name, limited and unsupported access will continue after the 60 days until the current registration period of the domain name expires, after which access will terminate. If the HOA accesses the application through the MyHOA-online.com LLC domain, service terminates at the end of the 60 days. Limited access is defined as "read only"; no new content, issues, transactions or any other records can be created. If a default of contract occurs on the part of the HOA, all services including access will terminate immediately.
- The management service rate starts at $5.00 per home/unit per month. The actual amount is established in the HOA contract.
- Billing is automatic and billed on the 1st of the month.
- The monthly fee is on a per-home/unit managed scale. The per-home/unit fee is determined at the time of the initial client interview based on expected workload. Factors that are evaluated are:
- Does the HOA have a functioning Board of Directors?
- Are there any active committees?
- Is the HOA Non-Profit Status current?
- Does the HOA use MyHOA-online.com LLC's preferred contractors and vendors?
- Does the HOA have an active HOA Insurance account?
- Does the HOA have any (known) outstanding debts or legal actions against it or its Board members?
- Number of tracts and quantity of physical assets (play structures, private streets, privately owned street lights, mail boxes, fences, etc)
- Are dues billed and paid annually, semi-annually, quarterly or monthly?
- Does the HOA currently use ACH?
- Office expenses, excess storage, postage and the Unified Communications Service Fee are billed monthly along with the management fee. The rate is computed as an equal division spread among all supported HOAs. As more HOAs are added this fee will decrease accordingly.
- Are the current HOA assessments sufficient to cover the HOA expenses and is a reserve account expected or required?
- Are audits expected or required?
- Number of meetings per year.
- Required amount of issues management oversight and volume of violations.
Additional Administrative Details
- The HOA must use the mailing address provided by MyHOA-online.com LLC as its business mailing address. All homeowners, contractors and vendors plus the appropriate municipalities and agencies will all be sent a change of address notice by MyHOA-online.com LLC.
- MyHOA-online.com LLC requires the use of a locally accessible bank (branch) for the HOA's normal business operations. The current bank of choice is the Lake Meridian branch of JPMorgan Chase & Co.
- MyHOA-online.com LLC management must be an authorized signature on the primary business bank account.
- MyHOA-online.com LLC management highly recommends that at least two board officers, usually the President and the Treasurer, be on the bank signature card and also sign off on any unplanned expenses.
- It is recommended that at least one HOA officer should sign for and have possession of a debit card for emergencies or meetings.
- MyHOA-online.com LLC management will register as the primary agent for your HOA with the Secretary of State, Northwest Trustee Services and the HOA Insurance firm.
- Electronic bill paying will be used whenever possible.
- MyHOA-online.com LLC will create and manage a unique PayPal account for your HOA and attach it to the primary HOA business bank account to support homeowners paying online with PayPal (which also includes the use of credit cards).
- Individual homeowners are ultimately responsible for any extra services and or fees they cause to be used or spent.
- HOA Insurance is required by law and the covenants. The insurance policy must at a minimum have both General Liability and Directors and Officers coverage. MyHOA-online.com LLC as HOA Manager must also be included with the Directors and Officers. The insurance company used is at the discretion of the HOA. MyHOA-online.com LLC currently uses American Family Insurance, Julia Meek Agency.
- MyHOA-online.com LLC currently uses Earth Tech Industries as its primary maintenance and landscaping contractor.