Looking for an HOA homeowners association business plan? HOAs are typically formed by a group of homeowners to protect shared property and set forth a basic set of guidelines or rules for ownership in the building or subdivision. Sometimes HOAs are formed in a single residential tower or by a group of residential homes in a shared market. The basic features will include a set of bylaws that govern things like what can be constructed on properties, the responsibilities of shared occupants, and what use collected fees will be put to in the building or subdivision. An HOA business plan should cover:
• The property or properties to be covered
• The number of people who will be past of the HOA
• The fees you expect for membership, as well as a rate of recurrent enrollment
• The outflows (yard maintenance, share space remodel, legal, etc.)
• The projected surplus of funding each year
The HOA business plan should also include the standard aspects of a business plan, including a full description of what services the HOA will offer to its members, a look at the market (comparable HOAs, other properties, etc.), and a section on the implementation planned for the business. If there are marketing aspects you need to put in place (for example, advertisements for prospective homeowners joining the HOA), itemize them. The pro forma will vary depending on your audience but show a minimum of three years of projections. If you need guidance on this or any other business plan, call MasterPlans today at 877-453-2011.
