The accounting systems in practice of home owners' associations are not functionally arranged to the purpose. In this paper are given the survey results carried out to find out the relevant problems and some guide lines to be followed for improvement. Main Points : 1. In general, in-practice rules of home owners' associations are not adequate to the effective maintenance and management of condominiums. 2. Especially, the accounting systems stipulated in the rules are often too complex and arbitarary by chiefly depending on individual management bodies, the competency of the board of directors and the styles of management. 3. At least, maintenance and repair reserve funds ought to belong to independent accounts, seperate from each other. 4. Accounting systems for repair reserve fund are not adequately ruled. 5. The long-range plan for repair work and necessary reserve fund is not prepared, which results in many cases in the inconsistent ways of fund raising.