Who Needs a HOA Management Company?
Developers, board members, and homeowners who may have the responsibility to choose a management company or supporting service for the community can all benefit from a HOA Management firm. A professional Home Owners Association Management firm or supporting service can be the difference between a thriving, vibrant community, and one in constant turmoil and despair. Read homeowners association management explained for a deeper understanding of HOA management and what it can do for your community.
How Does HOA Management Help Me?
A full service HOA management firm can take the weight of the world off the shoulders of the board. The one major thing that management companies don’t do is make decisions on the board’s behalf; apart from that, everything is possible.
A good home owners association management program can save board members hours of time and tons of capital. HOA community management companies know the laws governing HOAs for their specific state. Most management companies will have their own systems that can be adapted to each homeowners association, and these systems are designed to make the community organization as successful as possible.
Some Duties of HOA Management Companies
- Enforce Home Owner Rules
- Enforce HOA Regulations
- Arrange for property insurance
- Collect home owner dues
- Oversee board approved renovations and upgrades to the property
- Coordinate and supervise service contracts and trades work at the property
- Attend to emergency issues
- Provide detailed monthly accounting statements to the board
- Report on and review with board any necessary capital repairs
- Work with attorneys to collect unpaid homeowner dues