HOA records are the building blocks of your community association. It’s essential to understand what documents an HOA has, what they do, how to keep those records, and how long for. Keep reading to find all that out, and more!

What are HOA Records?

HOA records are official HOA documents. They include governing documents, CC&Rs, and meeting minutes. Since they’re official association documents they need to be stored correctly so that they are available when needed.

List of HOA documents:

Your homeowner’s association official records and documents include:

• All the developer’s documents, including maps, plans, permits, and land surveys.
• Governing documents, including Covenants, Conditions, and Restrictions (CC&Rs), Bylaws, and amendments, as well as the Articles of Incorporation
• Rules and Regulations
• Meeting notices and minutes of meetings
• The HOA’s insurance policies and records
• Third-party contracts or agreements (eg with service providers)
• Documents related to elections of board or committee members, eg ballots, proxies, notices, and minutes.
• Information on properties owned by the Association
• Judgments, liens on behalf of, or against, the Association
• Accounting records, including:
  • Receipts and expenditures
  • Dues paid by each member
  • Contracts, including bids
  • Invoices for any purchases made

Your HOA may also have other official documents related to operations and management. You should also check with an attorney and accountant (CPA) how long you need to keep records according to your state’s laws.

How to Store HOA Records

How you store your HOA records will depend on your HOA’s setup:

1. In an office: If you have an office, store your documents in clearly marked storage cabinets. If possible, buy a fire-resistant cabinet and keep important documents higher up in case of a flood.
2. Without an office: If you don’t have an office or storage space you should store them in similar-sized fire retardant boxes. Each box should be numbered and clearly labeled. Again, they should be stored safely in case of a flood.
3. Online: You should have copies of your documents in a secure password-protected online storage. That way you will always have a copy safely stored online. They will also be easy to access for residents, board members, and managers, saving everyone time. 
4. With your management company: You can choose to ask your management company to store your documents. This could be a good solution as they should have adequate storage space. However, if you ever part ways, you need to be certain that you get all your documents.

How long should you keep official HOA records?

Records that the HOA should keep permanently include:

• Documents the developer provided, 
• Governing documents: CC&Rs, Articles of Incorporation, and Bylaws and amendments 
• Rules, and regulations, 
• Meeting minutes,
• Legal documents, including any legal action
• Insurance policies will be updated but should be kept,
• Warranties also need to be kept, as you don’t know when you’ll need them.

Temporary records:

• Financial records are normally kept for four years,
• Tax records should be kept for at least 3 years,
• Meeting agendas are normally kept for a year
• Correspondence with a homeowner should be kept until they moved out.

You should check with your attorney to ensure that you are following your state’s law before you destroy any of your HOA records.

FAQs

Wrapping Up HOA Records

HOA records are important documents that the board of directors must store correctly so that they can provide copies when a homeowner requests, and also for the board to consult when needed.

To help your HOA store your documents safely and transparently, try Neigbrs by Vinteum, an award-winning management, communication, and storage system.