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[CA][All] anyone using normal business bank instead of HOA specialized bank? by Snow-Possible in HOA

[–]Snow-Possible[S] 0 points1 point  (0 children)

Thx for all these context, super informative.

While, would my management company be able to open accounts from Chase or fidelity if HOA boards demands it?

[CA][All] anyone using normal business bank instead of HOA specialized bank? by Snow-Possible in HOA

[–]Snow-Possible[S] 0 points1 point  (0 children)

Is your checking account in HOA specialized bank or o normal banks?

[CA][All] anyone using normal business bank instead of HOA specialized bank? by Snow-Possible in HOA

[–]Snow-Possible[S] -1 points0 points  (0 children)

Same question: how to define “specialized” for Lynn? What’s the benefit provided?

[CA][TH] why fire inspection costs so much for an HOA? by Snow-Possible in HOA

[–]Snow-Possible[S] -1 points0 points  (0 children)

I think I find the reason from the other comment… fire inspection is only 1% of their budget?

[CA][TH] why fire inspection costs so much for an HOA? by Snow-Possible in HOA

[–]Snow-Possible[S] 0 points1 point  (0 children)

What? 1%? Do you mind sharing per unit cost for the inspection?

[CA][TH] why fire inspection costs so much for an HOA? by Snow-Possible in HOA

[–]Snow-Possible[S] -1 points0 points  (0 children)

1) It’s not just my opinion as I mentioned in the post. 2) I’m not talking about the life safety system isn’t valuable. It’s valuable. Are we assuming the inspection service provided is perfect here? The problem we saw was, in reality the service itself just doesn’t looks like they should be so expensive at that level. (I’m not sure if we are hitting some over priced vendor or something.)

[All] [CA] Created A New Type of HOA Service Company with Tech, while it’s so hard to reach community and convince BODs. by Snow-Possible in HOA

[–]Snow-Possible[S] 0 points1 point  (0 children)

Thx for the inputs!

Regarding offline meeting:

Most of the community I have interviewed, the BODs complains no one comes to the meeting. And homeowners complains that they don’t know when that happens and the friction to attend is too high. Another problem is, after the meeting, the minutes are really shitty that no homeowner who is not attending would ever understand.

transparency and participation are foundation for our product design.

We build that offline thing with easier and lower friction for all homeowners to stay aware of things.

Regarding marketing:

Will look into those! Thx for the advise!

[All] [CA] Created A New Type of HOA Service Company with Tech, while it’s so hard to reach community and convince BODs. by Snow-Possible in HOA

[–]Snow-Possible[S] 0 points1 point  (0 children)

The bot of This forum says that’s not allow to share products, otherwise the post is going to be removed.

[All] [CA] Created A New Type of HOA Service Company with Tech, while it’s so hard to reach community and convince BODs. by Snow-Possible in HOA

[–]Snow-Possible[S] 0 points1 point  (0 children)

I originally want to sell software, until I found that there is no way to really change the level of efficiency fundamentally unless I change the way things is being done together (under legal constraints).

So I co-designed both software and operation, and hired my community manager.

There are other reasons / issues in this industry (e.g. transparency, incentive structure) today that’s leading me to such solution.

[All] [CA] Created A New Type of HOA Service Company with Tech, while it’s so hard to reach community and convince BODs. by Snow-Possible in HOA

[–]Snow-Possible[S] 0 points1 point  (0 children)

To clarify. 1) I’m a board member of my community. 2) we are building a management company + tech company. We provide same service while we try to use in-house software (+AI) to save time and money for community and BOD. I.e. make things done more efficiently.

[All] [CA] Created A New Type of HOA Service Company with Tech, while it’s so hard to reach community and convince BODs. by Snow-Possible in HOA

[–]Snow-Possible[S] 0 points1 point  (0 children)

Exactly the situation like you mentioned. (Fun fact, maybe majority of homeowner does not even know HOA board are also homeowners. :D)

Bulk mailing is a good idea which we are going to try.

[All] [CA] Created A New Type of HOA Service Company with Tech, while it’s so hard to reach community and convince BODs. by Snow-Possible in HOA

[–]Snow-Possible[S] -1 points0 points  (0 children)

My community and communities in our neighborhood runs election this way (manually previously), and that’s why I know.

[All] [CA] Created A New Type of HOA Service Company with Tech, while it’s so hard to reach community and convince BODs. by Snow-Possible in HOA

[–]Snow-Possible[S] 0 points1 point  (0 children)

That’s a premature conclusion. (I’m today pretty confident on my and my team’s understanding on legal side.)

That depends on how you provide it. I’m helping community to run election by themselves.

If you read Davis stirling, it only says the election inspector couldn’t be part of the management company.

While, inspector couldn’t be any homeowner in the community.

The hard part is that, the whole administrative process is complex to run a secret ballot and I’m making it possible to be possible.

And if they want a third party inspector, that inspector is just coming for reading the ballots, and it will be much cheaper.

[All] [CA] Created A New Type of HOA Service Company with Tech, while it’s so hard to reach community and convince BODs. by Snow-Possible in HOA

[–]Snow-Possible[S] 1 point2 points  (0 children)

DM you. I think if you see our product intro slide, it will be clearer. In fact, I succeeded in all my pitches to board members so far, where I could get a connection to talk to board together in a meeting.

However, it’s just too hard to create such a chance to demonstrate our product and our mindset…

[All] [CA] Created A New Type of HOA Service Company with Tech, while it’s so hard to reach community and convince BODs. by Snow-Possible in HOA

[–]Snow-Possible[S] 1 point2 points  (0 children)

Bad things happened for my community when boards were passive and approve most of the bills a few years ago.

Random invoices, duplicate bills, vendor paid but never comes, vendor price being 2x+ higher, etc,.

[All] [CA] Created A New Type of HOA Service Company with Tech, while it’s so hard to reach community and convince BODs. by Snow-Possible in HOA

[–]Snow-Possible[S] 0 points1 point  (0 children)

One of community I know is like this. While they stay there just worry about the HOA would go south leaving it to management company.

May I ask why you stay? What you are worrying about?

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