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How a Property Management Company Benefits Newly Established HOAs

Homeowners associations or HOAs are there to provide support to their community. From maintaining common areas to preserving the value of properties, an HOA’s job encompasses everything that has to do with homeowners and the community. An HOA property management company can make the HOA’s job easier and more manageable. Here’s how…

Board education and governance

Homeowners associations are run and managed by the HOA Board, and members of this Board are homeowners themselves, which means outside of their HOA duties and responsibilities, they have responsibilities at work and at home, too.

Understandably, newly established HOAs are unfamiliar with everything that goes on within the association and its community. As such, there may be areas or tasks that are being overlooked or neglected. An HOA property management company can conduct training for the Board to help them understand what each member’s job is and, more importantly, what the HOA’s responsibilities are.

A property management company that acts as a consultant for the HOA can help ensure that the HOA is managed properly and the homeowners are taken care of as well.

Finance and accounting

Homeowners associations collect fees or dues from their members monthly, quarterly, semi-annually, or annually depending on what has been previously agreed upon. Money collected from these HOA dues are used for the maintenance of common areas, repairs, emergencies, and such. It is also used for the HOA’s expenditures.

From time to time, HOAs may also collect other fees, depending on the needs of the association and/or the community. Emergency funds, maintenance funds, and petty cash are only some of the funds that HOAs must maintain and safeguard. An HOA property management company like So Cal Enterprise Properties, Inc. provides exceptional Finance and Accounting assistance, helping ensure that the HOA’s funds and books are up to date, among other things.

On-site maintenance

HOAs must always ensure their members’ safety, including ensuring that common areas, facilities, and each property are well-maintained. Without an on-site maintenance contractor, these things can be easily neglected or overlooked. A good and reliable HOA property management company provides HOAs with an on-site general contractor specifically for this task.

Others

Compliance with federal and state laws governing homeowners’ associations and communities is also a task that a property management company can help newly established HOAs with. Since they may not be familiar with all the laws and regulations that their HOA must strictly adhere to, a property management company will benefit the HOA as they are highly knowledgeable about HOA laws, restrictions, codes, and so on.

On that note, the HOA minimizes its risk of violating any of these laws. Likewise, property management companies assisting HOAs can help make sure homeowners do not break any HOA rules and by-laws.

Contact So Cal Enterprise Properties, Inc. for questions or inquiries

Do you have questions regarding HOA property management services? Please feel free to browse our blog page to read our latest updates about HOAs, community management, and more. You may also reach us at (951) 270-3700 for further questions or inquiries.

Why Clear Communications with Your HOA Property Management Company Matters

If you own several properties and you’re looking to hire property management services, one of the things you need to consider is how openly you can communicate with the HOA property management company team or manager that will be assigned to you. It cannot be emphasized enough how important it is for you to be able to clearly communicate with the property manager as being able to do so will save you from a ton of trouble later on.

On the other hand, if you are a part of your community’s homeowner’s association, you need to ensure that you and the rest of the Board of Directors and members know how to properly and effectively communicate as well, with your team of directors and with the homeowners themselves.

What does an HOA Property Management Company Do?

To understand the importance of effective communications with your property management services provider, you must first know what it is companies like this do. In brief, a property management company oversees the day-to-day care and maintenance of the property that have been entrusted to them by the owner. Depending on the purpose of the property, which is whether it is a residential property for rent, a commercial building or industrial real estate, the property management company will provide services specific to these needs.

Property management services: Why communication matters

Since the property management company will be responsible for everything that has to do with the properties they are managing, it is obvious there will be occasions and situations where effective communications are necessary. So, on the part of the property management company, their team needs to have effective communication skills to serve their clients well.

Clear and effective communications can:

  • Defuse confrontations
  • Avoid intense arguments
  • Resolve issues amicably
  • Prevent or minimize misunderstandings, particularly where HOA rules and regulations are involved
  • Know when to talk and when to listen

These are but a few situations and events where clear, concise, and effective communications is needed to avoid issues along the way. Additionally, for homeowners’ associations, clear communications allow for effective collaboration among members to create strategies and/or plans that will help them fulfill their duties to their community.

HOA Property Management Company: Services Offered

For the reader’s information, different HOA and property management companies offer different services. And usually, location and the type of community and property have much to do with these services. However, regardless of the differences in services, the goal of HOA and property management companies are the same: to provide HOAs professional assistance in certain aspects of the association so it can efficiently serve its member-homeowners.

Some of the general services that your HOA could benefit from include:

  • General governance of the Board
  • Board education
  • Vetting vendors and suppliers for cost-efficiency
  • Financial training and assistance in accounting, delinquency, and collection services
  • Site inspections
  • Compliance reviews, violations, and maintenance
  • 24-hour Emergency Assistance
  • Ensuring homeowners’ participation, where applicable
  • Overseeing reconstruction projects, including and large-project management

If you wish to learn more about HOA property management company services, we invite you to browse our blog page. You may also reach us at (951) 270-3700 for questions or inquiries.

3 Tips on How to Choose the Right HOA Property Management Company for Your Community

Homeowners associations are run and managed by volunteers who are also members of the same community. As such, they may not always be on top of things and situations where their HOA and community are concerned because they have other responsibilities as well. For this, most associations hire the services of an HOA property management company to assist the Board of Directors and Board Members with their HOA duties and responsibilities.

If you and the Board are struggling to keep up with HOA responsibilities as well as the various demands of your community members, it might be time to consider hiring a management company. However, it’s important that your choice be the right fit for your association if you are to achieve your goal of improving HOA services to your community. Remember that not every HOA property management company within your vicinity has what you need and require. Proximity alone, while it does help, isn’t enough of a solid criterion to hire the management company you have been eyeing.

On that note, here are a few tips that might be able to help you find the right HOA property manager for your association and community:

1. Discuss with the Board the HOA’s needs

Before you start your search, it’s important to identify the needs of the HOA, what responsibilities aren’t being fulfilled? What areas are lacking certain expertise, i.e., Finance and Accounting, Emergency Response, etc. It’s important to identify the reasons why you require the services of an HOA property manager.

2. Check the HOA management company’s experience and expertise

The right HOA property management company will have the experience and expertise that you need. It’s not enough that they can fill in the role of an accountant or finance manager, or whatever else that your HOA needs. The right one will have the experience and expertise necessary to perform their duties exceptionally well. In other words, they can fulfill their duties to the Board and the HOA, and subsequently the community, efficiently, effectively, and with utmost professionalism.

3. Availability

Last but not the least, you’d want an HOA property management company that you can reach anytime of the day or night. You’d want a management company that can provide you with a team of experts who will be available 24 hours per day, seven days per week. While they won’t necessarily need to be in touch with the Board 24/7, they do need to be available for emergencies and situations where their troubleshooting expertise is needed.

Also, make sure that the HOA property manager that will be assigned to you has excellent communication skills. Communication is a top priority in any business endeavor or partnership undertaking, which of course includes outsourcing services like HOA management.

Contact So Cal Enterprise Properties, Inc. for questions or inquiries

Do you wish to learn more about HOA property management services? Please feel free to browse our blog page to read our latest updates about HOAs, community management, and more. On the other hand, if you have further questions or you would like to inquire about HOA management services, you may also reach us at (951) 270-3700.

What to Look for in Property Management Companies in Corona, CA

When people hear the term “property management” or “property manager,” what usually comes to mind is someone who takes care of everything that a property needs, generally on an individual client basis. What many don’t know is that property management companies in Corona, CA, or other locations across the country for that matter, also function in an HOA-focused capacity. That is, they work to assist HOAs in fulfilling their duties to their members and the community.

The services that property management companies that specialize in homeowners associations and management offer differ from one company to the next, which is why you need to carefully look into the services of each to help you find the right fit for your HOA.

For the reader’s reference, So Cal Property Enterprises, Inc. is deemed as one of the best among all other property management companies in Corona, CA because of their professionalism, range of services, and exceptional customer service. Here are some of the ways So Cal Property assists HOAs:

  • Assist the HOA’s Board of Directors in their day-to-day tasks and responsibilities
  • Create a comprehensive report on all activities that involve the HOA, its Board of Directors, and members
  • Provide 24/7 answering service for emergencies
  • Prepare meeting agenda, management reports, financial statements, and other related documentations
  • Attend regular Board meetings
  • Conduct small-scale seminars as needed by the HOA and/or its Board

As you can see, the above services are focused on HOA and community management.

Tips on choosing a property management company

Whether you’re looking for property management companies in Corona, CA or other parts of the country, these tips could help you find the right one for your HOA.

Identify your needs

To help you find the right one for your HOA, you must know why you need the services of a property management company. What are the weak points in your HOA that you need expert and professional assistance with? Identifying your needs will narrow down your list, which makes it easier for you to find the right fit.

Always go local

When looking for a property manager, you should always start with what’s available in your area. So let’s say your HOA is in Corona, California, you should focus on reputable property management companies in Corona, CA first before expanding your search. Local property managers know the ins and outs of the area, particularly the laws that govern properties, HOAs, and communities. You need someone who is an expert in your area, so to speak.

A local company is also easier to reach, and can provide prompt emergency assistance at any given time.

Exceptional work ethic and experience

Last but not the least, you’d want a company that can provide you with a professional property management consultant that not only possesses the skills to help you manage your HOA but also one who has a reputation for conducting themselves with utmost professionalism in all aspects of their business.

What are the needs of your HOA? How can a property management company help your HOA? Please feel free to browse our blog page for the lates articles on HOA and property management. For other questions, you may call us at (951) 270-3700.

Property Management vs HOA Management Company

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.

HOA Management

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.

Property manager

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.