Why Do I Have To Pay For A Resale Package?
We have many homeowners who think that because they pay assessments every month they should not have to pay for a resale package. They are of the opinion that it is a bunch of pages all put together that just sits and waits for us to “push the button” when they place their order.
I would like to clarify why it is essential that management companies prepare these documents individually for each owner. First, it is a legal document required by law in many states as it protects the buyer from purchasing into a community association without first obtaining “full disclosure”. It contains a disclosure statement that includes the legal or pending legal status of litigation involving the association. It contains up-to-the-minute information about the assessments owed, outstanding special assessments and even pending assessments as required in many states. It provides the association’s financial status and any outstanding loans owed by the association. It also provides any covenants restrictions or violations on the unit. All of these questions are answered and are entered in real time by a staff member when the order is placed. The document is not static; it requires keen oversight as the questions are researched and completed.
Homeowner’s association property management personnel are responsible for overseeing the activities of the HOA and the properties under its control. HOA property management can be vital to maintaining the integrity of a homeowner’s association so that its operations all run smoothly and within expected budget guidelines. The most common hierarchy of a HOA property management structure will include a Board of Directors responsible for keeping their community a pleasant and aesthetically desirable place to live. Owners within the community are generally considered “members” of the associations, under the leadership of the board. The board will usually be made up of less than 10 individuals who are either elected or assigned by the members of the community. HOA property management strategies are executed in similar fashion across a vast majority of homeowner’s associations. The Board of Directors philosophy can be helpful in integrating strategies for property management from individuals who are actually residing among the other members of the association.
The goal of an HOA property manager should be to maintain the current value and improve upon the value of the homes in the HOA area. Not all HOA property management companies provide the same services, so it’s important to choose the best company for the job.
Review the services provided by local HOA property management companies. Some property management companies are all inclusive on their services for the price you pay. Other companies have strict guidelines as to what you get for your money. Ask if the cost is all inclusive or if you’re charged per item or extension of time.
An HOA management company is best served by a client-first mentality. Providing a high standard of customer service and responsiveness can help an HOA management company’s bottom line much in the same way expected of a savvy financial strategy. Planned community specialists understand that their neighborhood will be tied in through the actions and intentions of a homeowner’s association. HOA management company procedures that are inclusive and considerate of each member will be far more successful than well-meaning processes that do not take into account the aspect of open communication. Lack of accessibility and communication in an HOA management company can be as detrimental to future prospects for the organization as a failure to complete tasks and requests within a specific timeframe or budget. HOA management companies taking pride in their level of service are advocates for the progression of HOA management beyond what many see as a flawed system.