Homeowners associations are run by homeowner-volunteers who are part of the community they serve. Being volunteers, they do not receive remuneration for their services, which means most of them have day jobs; which also means they may not always be available to fulfill their duties, especially in emergencies. This is why most HOAs turn to a professional HOA management company to help them fulfill their duties to the community and homeowners.
What does an HOA management company do? In its broadest sense, an HOA management company helps the HOA fulfill its duties to the homeowners as well as to the community. To better explain how exactly an HOA management company helps a homeowner’s association, here are three important tasks they perform:
One of the oft-neglected aspects of an HOA has to do with finance; everything that has to do with managing the association’s financials; from collecting dues and other fees to ensuring there is an emergency fund for unforeseen events (like natural disasters and emergency repairs), bookkeeping, managing bank accounts, billings and financial assessments, and following-up on delinquent accounts, among many others.
2. Site maintenance
In every residential community, whether it be a gated subdivision or a multi-family building, there are common/public areas that HOA members can use for leisure, entertainment, fitness, and such. From swimming pools to parks and playgrounds, walkways and pathways, and other common areas, the HOA management company has to perform regular inspections of these areas to make sure their properly maintained for the safety of the residents and guests.
Additionally, the HOA management company also sees to it the rules and regulations regarding lawns and landscaping, exterior paints, and other property-related regulations are strictly followed to maintain property value.
3. Administrative tasks
Last but not the least are administrative tasks. These include scheduling and attending board meetings, submitting a monthly report to the Board regarding management tasks, as well as ensuring that all members of the HOA strictly follow the HOA’s <a=rel”no follow”href=”https://homeguides.sfgate.com/california-homeowners-association-laws-2994.html”>Covenants, Conditions, & Restrictions (CC&Rs). Additional HOA services may also include any or all of the following:
- Board education and governance
- Vendor selection and cost reduction services
- 24-hour emergency services
- Homeowner participation, including sub-committees
- Reconstruction and large-project management oversight
In general, HOA management companies provide custom-made programs based on the needs of each HOA. Understanding that each HOA is unique with unique strengths and weaknesses, programs tailored to address each of these are the best way to ensure that the HOA remains fully functional; serving the interests of the homeowners and the community as a whole.