Celebrate the impact of HOAs with Truist as your partner

HOAs help meet the ongoing challenge of upkeeping properties by ensuring that buildings, roads, roofs, elevators, and other common elements are properly maintained—of increasing importance as communities age. With their own governance structure, guiding charters, and operating rules, HOAs provide discipline by accumulating reserves and allocating funds to inspect, repair, and improve property and structural‑safety requirements and regulations. Along with helping create and maintain a safe living environment, they help millions of households preserve value in what is often their largest asset.

As communities face new financial, demographic, and regulatory pressures, HOAs are evolving to meet emerging challenges and respond with creative solutions. Strategies to address these concerns include: 

• Improving housing affordability. Associations increasingly use structured loans instead of large special assessments to help homeowners manage rising costs, spreading major repair expenses over time. This makes necessary infrastructure work more financially manageable for residents.
• Maintaining and revitalizing aging buildings. Across the U.S.—and especially in Florida—many buildings served by community associations are now decades old. Associations are under growing pressure to complete major structural repairs, reserve studies, and safety inspections to ensure long-term building integrity. High-profile structural failures and updated reserve requirements have intensified these responsibilities.
• Serving an aging population. Communities with older residents are adding or upgrading accessibility features, lighting, walkways, and building systems, to align with broader industry attention on aging infrastructure and long-term maintenance trends.
• Supporting families. HOAs provide the means for creating common amenities and services—pools, clubhouses, playgrounds, gyms, and other resources that would be prohibitively expensive for families to acquire on their own. HOAs also have the scale to introduce the latest technologies like digital payments, virtual meetings, and online self-service tools that make participation easier for busy households.
• Meeting new requirements for additional oversight and regulation. States are adopting stricter laws governing reserves, structural integrity, funding discipline, and transparency, which raises expectations for board governance. Florida’s Structural Integrity Reserve Study (SIRS) mandate is just one of many examples illustrating this shift toward tighter oversight. HOAs provide the infrastructure, governance, and funding mechanisms for communities to achieve regulatory compliance in an efficient manner.

Truist understands the complex needs of community associations and the business of managing, running, or even volunteering in an association—which isn’t surprising after decades of growth together. “We were one of the earliest banks to create a division dedicated solely to HOAs. But it’s our commitment to the communities we serve, and building better lives for residents that distinguishes us,” says JJ Miranda, head of Truist Association Services. “Truist works with all types of community associations, from single property, self-managed HOAs to large property management businesses serving thousands of community associations worldwide.”

With deep understanding and a broad range of tools to empower HOA members and leaders, Truist enables these communities to operate more effectively by improving the financial and operational backbone HOAs rely on every day. Truist strengthens client communities by offering essential resources that include:

• HOA/Condominium payment collection and processing for homeowner payments: Reliable, multi‑channel payment processing stabilizes cash flow and reduces delinquencies through options like ACH autopay, eCheck, online card payments, coupon books, branch acceptance, and BillPay. Plus, Truist reviews all lockbox payments that can’t be processed, only sending you those we can’t identify.
• Streamlined administration via Web Vault: This innovative offering consolidates statements, payment images, ACH management, and account updates in a single secure platform, integrating via API with key property management systems. By streamlining and coordinating these critical elements, Web Vault saves managers hours of manual work.
• Efficient term loans, lines of credit, and insurance premium financing:Specialized HOA financing allows associations to complete essential repairs, restoration work, and large capital projects without depleting reserves or relying solely on special assessments. Unlike personal guarantees, these loans, structured around assessments and lien rights, are designed to fit the way HOAs operate, making them accessible and community‑friendly. With a streamlined financing process developed through extensive work with HOAs and community associations, Truist provides loans to HOAs more efficiently than other lenders.^{Disclosure 3}
• Commercial banking solutions:Truist offers a full suite of commercial banking and capital advisory solutions that support growth, acquisition, and long‑term business strategy.

Your board of directors and HOA management team. Truist’s expertise in areas of critical interest to HOAs allows us to be effective partners at the property management and board level. Whatever new challenges and opportunities your community faces, we help by providing expertise on investments, M&A activities, and more.

Your homeowners. Truist has developed advanced, use-friendly systems to deal with the specialized questions that individual homeowners or condominium owners regularly have. As one of the nine largest, full-service banks in the nation, we know that people make a community. Building personal relationships means staying close to your community to help with personal and business banking needs.

This commitment to partnership delivers the comprehensive services and flexibility that HOAs need. As Miranda points out, “Whether it’s structuring financing for a major capital improvement project, educating a new board member on board operations and responsibilities, or helping a resident navigate the best way to meet an assessment, Truist’s relationship managers bring deep experience and a high-touch approach. Each interaction is designed to deliver a clear, informed, and rewarding outcome.”