HOA On-boarding

🗓️ 30-Day HOA Management Transition Timeline

Goal: Establish complete operational management of the HOA within 30 days, ensuring continuity, compliance, and communication from day one.

📅 Day 1–3: Engagement & Kickoff

Primary Goal: Launch onboarding and initiate communication.

✅ Signed Management Agreement executed
✅ Introductory email to board & point-of-contact assigned
✅ Schedule kickoff call with the HOA board
✅ Request all critical HOA documents and account access (see checklist)
✅ Provide document intake forms and an onboarding guide
✅ Create a secure shared folder or portal for document submissions

📅 Day 4–7: Document Intake & Systems Setup

Primary Goal: Begin gathering information and setting up internal systems.

✅ Begin collecting and reviewing governing documents: bylaws, declarations, rules
✅ Obtain EIN, COI, banking authorization, and vendor contracts
✅ Begin utilities and vendor audit (collect bills, portals, account info)
✅ Request the owner directory, dues schedule, and dues status
✅ Set up HOA account in Invicta’s systems (billing, maintenance, accounting)
✅ Begin transition plan with outgoing manager (if applicable)

📅 Day 8–14: Financial & Vendor Transition

Primary Goal: Ensure financial control and service continuity.

✅ Open or transfer the HOA bank account (with board signatures)
✅ Begin dues billing setup (monthly/quarterly/annual cycles)
✅ Confirm all active service contracts & identify gaps
✅ Contact vendors to notify them of the management transition
✅ Collect recent vendor invoices and payments due
✅ Begin processing vendor payments as needed
✅ Coordinate insurance review or renewal if applicable

📅 Day 15–21: Communication & Operational Launch

Primary Goal: Establish homeowner communication and begin day-to-day support.

✅ Prepare and send the “Welcome to Invicta” packet to all owners
✅ Launch online resident portal (if applicable)
✅ Publish the communication policy and how to submit maintenance requests
✅ Schedule regular board meeting dates
✅ Set up recurring site inspections and maintenance workflows
✅ Conduct property walk-through (if not already done)

📅 Day 22–29: Policy Review & Final Checks

Primary Goal: Validate operational setup and confirm legal/administrative compliance.

✅ Review budget and financial reporting formats with the board
✅ Confirm that dues collection is active and accurate
✅ Finalize vendor/service calendar (e.g., landscaping, snow removal, inspections, etc.)
✅ Ensure insurance coverage aligns with community needs
✅ Verify governing docs and rules are accessible to owners
✅ Test and verify communication channels (email, phone, portal)

📅 Day 30: Transition Completion & Board Briefing

Primary Goal: Complete onboarding, confirm systems are live, and transition to full operational status.

✅ Host transition review meeting with the HOA board
✅ Deliver status report: finances, compliance, documentation, communications
✅ Assign a permanent community manager
✅ Begin monthly management cycle (reporting, billing, maintenance, etc.)

⚠️ Potential Delays and Exceptions

While Invicta aims to complete transitions within 30 days, certain factors may cause delays:

Common Causes:

Lack of cooperation from the outgoing property manager
Contractual limitations on access to accounts or documents
Missing or incomplete records from the prior board or manager

In such cases, we will communicate timeline adjustments clearly and keep the board fully informed throughout.

💡 Optional Milestone Adjustments for Financially Conscious HOAs

We understand that some HOAs operate with strict budgets or limited cash flow. For these communities, Invicta offers flexible onboarding strategies that enable you to prioritize essential tasks while deferring lower-priority milestones to minimize initial costs.

Examples of Adjustable Milestones:

📉 Delaying the resident portal launch until the full owner list is verified
🕓 Staggering property inspections or third-party vendor evaluations
💬 Postponing bulk communication or print mailings until the board provides final materials
🧾 Allowing more time for the board to gather legacy vendor records before Invicta performs a service audit

📌 These adjustments are evaluated case-by-case, based on board input and transition goals. They can help reduce billable time or vendor rush fees without compromising core operations.

Invicta’s mission is to provide flexible, community-first management. Whether your HOA is large or small, newly formed or long-standing, we’ll help you transition at a pace—and a cost structure—that works for your needs.

HOA Transition Timeline

HOA Management Transition Timeline

Day 1–3: Engagement & Kickoff

Management agreement signed, kickoff meeting scheduled, and onboarding begins.

Day 4–7: Document Intake & System Setup

Governing documents, financial records, and account information are collected.

Day 8–14: Financial & Vendor Transition

Banking, billing, and vendor communications are initiated to ensure service continuity.

Day 15–21: Communication & Operations Launch

Resident communications begin, portal access is enabled, and site walkthroughs occur.

Day 22–29: Policy Review & Compliance

Budget reviews, vendor scheduling, and compliance checks are finalized.

Day 30: Transition Completion

Final onboarding review with the board and full operational management begins.

Adjustments & Exceptions

Delays may occur due to uncooperative outgoing management or incomplete records.

Financially conscious HOAs may delay certain milestones to reduce early costs—ask us how.

Roles and Positions Within an HOA Board

To operate a successful Homeowners Association (HOA), it is essential to have a well-defined executive board comprised of community members who reside in or own property within the association. A recommended structure includes at least three board members who serve as President, Treasurer, and Secretary. These roles are not only essential for internal governance but also for partnering effectively with the property management team to ensure transparent, resident-focused leadership.

President

The President provides strategic direction for the HOA and helps set the tone for community priorities. While the property management company supports operations, the President:

Works collaboratively with management to set annual goals.
Represents the community in key decisions and communicates resident concerns and feedback.
Acts as a bridge between homeowners and the management team, ensuring alignment and accountability.

This role is crucial for empowering the community while ensuring that decisions are made with professional support and guidance.

Treasurer

The Treasurer plays a critical role in safeguarding the HOA’s financial health, working closely with the management company to maintain transparency and trust. Responsibilities include:

Monitoring budgets and ensuring responsible financial practices.
Reviewing financial reports provided by the management team.
Helping address delinquencies in a fair, community-first manner.

By having a homeowner or property owner serve as Treasurer, the HOA ensures oversight stays in the hands of those most directly affected, while still leveraging professional expertise.

Secretary

The Secretary is responsible for ensuring that the HOA’s administrative records and communications are well-organized and up-to-date. In coordination with the property management team, the Secretary:

Schedules and documents meetings to keep residents informed.
Ensures vital records—such as governing documents, insurance, and compliance materials—are readily available and well-maintained.
Helps manage the flow of information between the board, homeowners, and management.

This shared responsibility supports clarity, consistency, and legal compliance across all HOA activities.

This structure ensures the HOA remains resident-led and community-focused while also benefiting from the support, systems, and expertise of a dedicated property management team, such as Invicta. Together, this partnership establishes a solid foundation for effective, responsive community governance.

2. How to Open a Trustee Bank Account for Your HOA

What Is a Trustee Bank Account?

A Trustee Bank Account is a dedicated financial account opened under the legal name of the Homeowners Association (HOA) or Condominium Trust. It is managed by the board of trustees or designated officers and used exclusively for the association's financial operations, including collecting dues, paying vendors, maintaining reserves, and funding capital projects.

Unlike personal or business bank accounts, trustee accounts are set up specifically for common interest communities and are governed by the association’s founding documents and applicable state laws.

Why Your HOA Needs One

Having a separate trustee bank account is not only a best practice, but often a legal requirement. Here's why:

✅ Financial Transparency – Keeps HOA funds separate from personal or unrelated business accounts.
✅ Accountability – Enables clear reporting, audits, and responsible budgeting.
✅ Legal Compliance – Supports proper fiduciary practices and aligns with the association’s bylaws and trust documents.
✅ Vendor & Member Confidence – Provides credibility when managing incoming and outgoing funds.

A trustee account protects both the community and the individuals serving on the board by establishing formal control over how funds are accessed and managed.

What You Need to Open a Trustee Bank Account

To successfully open a bank account in the name of your HOA or trust, you'll need to gather and submit the following documentation:

✅ Account Opening Signature Card & Board Resolution

This document identifies the individuals authorized to manage the account and conduct banking activities on behalf of the association.

✅ Valid ID for Authorized Signers / Trustees

Each signer must provide a government-issued photo ID (e.g., a driver’s license or passport) for identity verification purposes.

✅ Master Deed or Declaration of Trust

Establishes the legal creation and governance structure of the association.

✅ Unit Deed or Trustee Certificate

Confirms who owns property and/or has the legal authority to act on behalf of the HOA or trust.

✅ Management Agreement

If Invicta is managing the property, this document confirms our role and allows us to assist with account coordination and oversight.

✅ Verification via the Secretary of State Website

Used to confirm your HOA or trust is active and in good standing.

✅ Relevant Documents from the Registry of Deeds

Provides legal proof of property ownership and the governing trust structure.

Secretary of State Website

https://www.masslandrecords.com/

Registry of Deeds Website

https://corp.sec.state.ma.us/CorpWeb/CorpSearch/CorpSearch.aspx

How Invicta Can Help

Invicta Property Management is here to make this process smooth and hassle-free. Here's how we assist:

Document Preparation and Review: We will assist in gathering and organizing the necessary paperwork and review it for completeness before submission.
Bank Coordination: We can liaise directly with Invicta’s preferred financial institution to guide the setup process and expedite approvals.
Ongoing Oversight: Once the account is open, we assist with financial reporting, reconciliation, and transparency through your HOA’s monthly financial statements.

By partnering with Invicta, you’ll ensure the account is opened efficiently, in full compliance with banking and HOA regulations, and set up for ongoing success.

3. Information Needed to Obtain Building Insurance for Your HOA

To ensure your HOA is adequately covered, Invicta Property Management can coordinate and acquire insurance policies on your behalf. To do so, we must collect accurate and detailed information about your property and its systems.

Below is a breakdown of the required information, organized into key categories with clear explanations of why each item matters.

1. Property Profile

These details help the insurance carrier assess the scale, type, and risk exposure of your property:

Number of Units
Indicates the total number of residential or commercial units within the HOA.
→ Helps determine premium pricing and risk exposure.
Use Type
Clarify whether the property is Residential, Commercial, or Mixed-Use.
→ Each category carries different insurance considerations and liability factors.
Total Square Footage
Combined interior square footage of all units and common areas.
→ Used to calculate the potential cost of rebuilding or repairing the property.
Year Built
The original construction year of the building.
→ Older buildings often carry a higher risk and may impact coverage options.
Detached Buildings
Identify any standalone structures, such as garages, clubhouses, and storage units.
→ Ensures all parts of the property are adequately covered.
Recent Exterior Photos
Clear, recent images of the building(s) from all angles.
→ Required by many carriers to document property condition and appearance.

2. Structural and System Details

Insurers require this technical information to evaluate the condition and risk levels of your building systems:

Roof Type
Specify the roofing material (e.g., shingle, rubber, metal, etc.).
Different materials have varying durability and fire risk ratings.
Year Roof Was Last Maintained or Updated
→ Shows how recently the roof has been serviced, which affects risk assessment.
Plumbing Type
Describe the type of piping: Copper, PVC, PEX, or Other.
→ Certain older materials may be prone to leaks or corrosion.
Year Plumbing Was Last Maintained or Updated
→ Updated systems reduce the likelihood of water damage claims.
Heating Type
Indicate if the heating system is Gas, Electric, Geothermal, etc.
→ Different systems carry varied safety profiles and replacement costs.
Last Update to the Heating System
→ More recent updates may qualify the property for better rates or coverage.
Electrical System Type
Note whether the property uses Circuit Breakers, Knob-and-Tube, or other configurations.
→ Older or outdated systems may increase fire risk and affect insurability.
Last Update to Electrical System
→ Confirms that wiring is up to modern code and reduces fire hazard.

3. Insurance History

Understanding your property's claims history is a key factor in policy approval and pricing:

Loss Runs
A Loss Run Report is a record of previous insurance claims, typically from the past 3–5 years.
This helps carriers assess the property's risk history and may impact rates or eligibility.

How Invicta Can Assist

Invicta Property Management handles insurance coordination by:

Helping your board gather and verify all necessary information.
Communicating with insurance brokers on your behalf.
Ensure that your policy fully aligns with your HOA’s risk profile and budget.
Keeping documentation organized and accessible for future renewals, audits, or claims.

Having this information ready allows us to secure competitive quotes, ensure proper coverage, and protect your community from unexpected loss.

4. Required Billing Information for Property Audit & Management Setup

As part of our onboarding process, Invicta Property Management conducts a full bill audit to ensure that all property-related expenses are accounted for, tracked, and managed effectively. This step is crucial for ensuring budget accuracy, making timely payments, and maintaining uninterrupted services to the community.

To do this successfully, we need complete and accurate documentation from the HOA board. Below is a list of the required bills, account details, and vendor information to be submitted at the start of management.

🔍 What You Need to Provide

Please gather all active utility bills, service contracts, and vendor information tied to the property. For each, include:

Most recent bill/invoice
Account number(s)
Billing portal login credentials (if available)
Contact information for providers
Copies of active contracts or service agreements (if applicable)

💡 Common Utility & Service Bills

The following categories typically apply to HOAs or condominium associations:

Utilities

✅ Electricity (common areas, streetlights, etc.)
✅ Gas
✅ Water & Sewer
✅ Trash & Recycling
✅ Heating (if centrally provided)
✅ Hot Water (if shared or centrally maintained)

Insurance

✅ Master Property Insurance
✅ General Liability
✅ Directors & Officers (D&O) Insurance
✅ Umbrella / Excess Liability Policies
✅ Flood or Earthquake (if applicable)

Communication & Technology

✅ Internet / Wi-Fi (for office or surveillance systems)
✅ Telephone / Intercom Systems
✅ Security System Monitoring
✅ Cloud Storage or Video Surveillance Services

Regular Service Providers

✅ Landscaping & Snow Removal
✅ Pest Control
✅ Cleaning Services (common areas)
✅ Elevator Maintenance
✅ Fire Alarm or Sprinkler Inspections
✅ HVAC Maintenance Contracts
✅ Pool or Amenity Maintenance
✅ Window Cleaning or Exterior Maintenance

Other Contracts or Recurring Vendors

✅ Property Management System or Software Subscriptions
✅ Bookkeeping or Accounting Services
✅ Legal Counsel (if on retainer)

📄 Vendor Invoices & Contracts

Please provide:

Current and past vendor invoices
→ Helps verify current services and compare costs.
Signed service contracts
→ Ensures terms, responsibilities, and cancellation policies are clear.

⚠️ Trustee Responsibility Disclosure

It is the responsibility of the HOA trustees to provide Invicta with complete and accurate billing information. If a bill, contract, or account is omitted during onboarding:

🛑 The board remains responsible for ensuring it is submitted in a timely manner.
💬 Invicta cannot be held liable for missed payments or service lapses tied to undisclosed accounts or vendors.

We are happy to assist with reminders, checklists, and follow-up, but the accuracy of submitted data starts with the board.

🤝 How Invicta Supports You

We audit all provided bills and vendors to verify account activity and spending trends.
We centralize and track due dates to avoid missed payments or service disruptions.
We transition services under management (when needed) to simplify administration.

By working together, we ensure your HOA operates smoothly, transparently, and cost-effectively from day one.

5. Recommended Document Collection for HOA Management Transitions

When an HOA is transitioning from one property management company to another, the success of that transition heavily depends on the quality and completeness of the documents provided. Unfortunately, not all outgoing management companies are timely or transparent, which can lead to avoidable delays, confusion, or service disruptions.

To ensure your community is protected and that Invicta Property Management can begin supporting you immediately, we strongly recommend collecting all key association documents as early as possible—ideally before the outgoing management's term ends.

Below is a checklist of essential HOA documents, along with brief explanations and pro tips for acquiring them.

🔒 Foundational Governance Documents

These form the legal structure of your HOA and guide day-to-day operations.

📜 Certificate of Incorporation
Confirms your HOA is recognized as a legal entity in your state.
Tip: Available from your Secretary of State’s website.
🖋️ Articles of Incorporation (Signed Copy)
Details your association’s name, purpose, and governance structure.
Tip: Often stored in the HOA’s original legal binder or recorded with the state.
📘 By-Laws and Addendums (Signed Copy)
Outline how your HOA operates, including voting procedures, board structure, and member rights.
Tip: May be filed with the attorney who helped establish the HOA.
📕 Declarations (CC&Rs) & Addendums (Signed and Recorded Copy)
Also known as Covenants, Conditions & Restrictions, these define the use of property and common areas.
Tip: Copies can often be found at your local Registry of Deeds.
📄 Rules and Regulations
Specific behavioral or community standards adopted by the board.
Tip: May be shared directly with residents; request from current management.
💰 Fine Schedule
Lists the penalties associated with rule violations.
Tip: Typically attached to the Rules and Regulations document.

📈 Financial & Banking Documents

These ensure continuity in accounting, budgeting, and banking.

📑 Budget (Current and Past)
Outlines expected income and expenses, typically for the current fiscal year.
Tip: Request digital or printed versions from the outgoing manager.
💵 Dues Amount & Collection Schedule
Specifies the payment amount and frequency (monthly, quarterly, or annually) for residents.
Tip: Often included in welcome packets or owner communication.
🏦 Signed Banking Documents: Signature Card, Corporate Authorization Letter
Authorizes designated board members or trustees to manage association bank accounts.
Tip: Available from your bank’s branch manager or the outgoing treasurer.
📄 Dues Status / Balance Forwards
A record of all owner accounts, including outstanding balances or credits.
Tip: Should be exported from the outgoing management’s accounting system.

🧾 Legal, Tax & Insurance Documents

Required for compliance, tax filings, and protecting the HOA against liability.

🧾 IRS Assignment of Tax ID (EIN)
Confirms the HOA’s federal identification number for banking and tax purposes.
Tip: Can be requested from the IRS or found in prior tax return documents.
📜 Latest Annual Report to the Secretary of State
Lists current board members and confirms the legal status of the entity.
Tip: Search the Secretary of State’s public business database.
📄 Certificate of Insurance (COI)
Prove current insurance coverage for property, liability, D&O, etc.
Tip: Request directly from your current insurance provider.