Property owners hire a professional property manager to oversee the maintenance of their property in their absence. Property managers take care of everything related to the property on behalf of the owner. The challenge for first-time clients is finding the right person for the job. An HOA management company is usually their top-of-mind provider for such services. But not all HOA management companies offer property management services, and here lies the challenge.
Property Management vs HOA management company: What’s the Difference?
The best way to understand how HOA management and property management companies differ is to know the general purpose of each one. On that note, here are the key differences between the two.
First off, homeowners associations or HOAs are established to oversee residential units within a community. These could be multi-family buildings, complexes like apartment buildings and condominiums, or single-family homes. The community’s developers usually establish HOAs during the development stage. Once the units are completed and some have been sold or leased, the HOA is then turned over to the elected Board of Directors, which now comprises volunteer-homeowners.
The general purpose of an HOA management company is to help the Board of Directors with their day-to-day tasks. Their offerings cover a wide range of services, broken down into the following general categories:
- Financial and Accounting
- Board education and governance
- Vendor selection
- Site reviews, compliance, violations, and maintenance
- 24-hour emergency assistance
- Homeowner participation
- And many more…
Here’s the one determining factor that property owners should remember about HOA management companies: They exist to assist the HOA Board. Their services do not include tenant management or the general upkeep of individual properties. In a word, their job is to ensure HOAs can fulfill their duties as best they could, for the benefit of the community.
A property manager, on the other hand, is hired to act on behalf of the property owner. Now, their key responsibilities will depend on what their client needs and requires. They could be hired to oversee the general maintenance of a vacant property, and nothing more. They could also be hired to take care of all things related to the property, which sometimes includes dealing with the HOA if the property is within an HOA-managed community. Here you see how property management and HOA management crosses paths. But this is as far as their interaction goes. Their duties and responsibilities are not interchangeable. They also do not overlap. One does not, in general, act on behalf of the other.
Below are a few key responsibilities of a property manager:
- Oversee general maintenance of the property
- Vet tenants
- Collect rent and other fees
- Communicate with tenants, vendors, and suppliers
- Ensure tenants are complying with HOA rules and regulations
- Terminate lease contracts due to violations or delinquencies
Do you wish to learn more about HOA management company services? Please feel free to browse our blog page. You may also call So Cal Property Enterprises, Inc. at (951) 270-3700 for questions or inquiries.