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Property Management

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.

Property Management

HOA Management Services in Southern California: Hiring a Property Manager

Companies that specialize in HOA management services in Southern California like So Cal Property Enterprises, Inc. can offer individuals valuable insight on things related to property management as they have the expertise and experience that make them a reputable and excellent resource for such matters. And so with that said, here are a few notes they wish to share regarding hiring a property manager.

Why hire a property manager

Whether you own a second home or several other real estate properties, you will need help taking care of them, particularly if your current location is nowhere near these other properties. It doesn’t matter if you bought those properties for investment or for some other purpose, they will need to be maintained if you want to get your money’s worth, so to speak. This is the reason why property managers exist and why you should hire one.

On that note, here are a few reminders from the premier provider of HOA management services in Southern California So Cal Property Enterprises, Inc. with regard to hiring a property manager:

strong>Property management companies offer different services

You may think that property management companies offer the same services, but they actually don’t. “Property management” is an umbrella term that refers to managing real estate but the actual services may differ from one provider to the next. You need to double-check the services that you want incorporated into the management package and see if the company you’re considering is offering what you need.

From rental management to screening applicants, overseeing repairs and renovation, and ensuring the property is in strict compliance with HOA rules and regulations (for properties in HOA-managed communities), a property manager, in a nutshell, will take the burden of maintaining the value of the property off your shoulder.

HOA management services are different from property management

Property owners often mistake HOA management services and property management services as one and the same. To clarify, these are two separate types of services, catering to two different client categories, and specializing in two different fields. This is why some property owners have a difficult time finding the right property manager; they approach HOA management services instead of property management providers.

In a nutshell, property managers oversee the care and maintenance of specific properties; those entrusted to them specifically by the owner. HOA management services, on the other hand, provide professional assistance and consultation services to homeowners’ associations; particularly, to the HOA Board of Directors. Basically, the role of HOA management services is to assist the HOA in its duties and responsibilities, so the HOA, in turn, can better serve its community.

Learn more about property management and HOA management services from So Cal Property Enterprises, Inc.

Do you wish to learn more about the specific functions of property management companies as compared to HOA management services providers? Or are you looking for more information, specifically, on HOA management services in Southern California? Please feel free to browse our blog page for the latest articles on HOA and property management, and other related matters. For questions or inquiries, you may call us at (951) 270-3700.

Property Management

Hiring a Property Management Company in Orange County, CA

Investing in real estate property is a good way to earn extra income or secure your children’s future. How it pans out, however, depends a good deal on how the property is managed and maintained. It’s precisely for this reason that a lot of property owners consider professional property management in Orange County or wherever their properties are located.

What every property owner should know about hiring the services of a property management company

First off, the general purpose of hiring a property manager is to have someone with the training, background, and experience to handle the day-to-day management and maintenance of the property. In a word, the property manager is responsible for everything that has to do with the property, acting on behalf of the property owner most of the time, to ensure the real estate won’t fall into neglect over time.

With that said, here are a few important things to remember about professional property management in Orange County or elsewhere:

Experience is key

Since you will be entrusting your investment to a stranger, you’d want someone with years of experience on the job; an expert in their field, if you will. Someone who has been providing exceptional property management services for many years will not only have the eye to detect the smallest issues or identify potential risks but also the network to assist them in the day-to-day operations of property management. From vendors and suppliers to market specialists, an experienced property manager who knows all about property management like the back of their hand is the best person for the job.

Communication skills are critical to a successful owner-manager relationship

An important detail that is often overlooked is the property manager’s communication skills. Since the property manager will be handling all aspects of the property, they need to keep the owner informed about all the goings-on related to their property. This is particularly important if changes need to be made.

Additionally, excellent communication skills are a must because the property manager will need to talk to various individuals almost all the time, from vendors and suppliers to contractors, HOA Board, and so on.

Consider referrals

Last but not the least, consider referrals. If the property management companies you’ve so far talked to do not seem to be a good fit for you, it’s time to ask people you trust if they know of trustworthy and reliable property managers. Bear in mind, however, that you still have to do your due diligence when it comes to referrals to protect your interests, among other things.

The bottom line is, when it comes to property management in Orange County or wherever your property is located, it would be prudent on your part to make the effort to thoroughly research on the background of the companies you are considering for the job. Remember that the property manager can just as easily neglect your property as if it weren’t under the management of a professional service.

Need more info? Click here to learn more about property management in Orange County. For questions or inquiries, please feel free to call So Cal Property Enterprises, Inc. at (951) 270-3700.

Uncategorized

HOA Management in Los Angeles: All About HOAs

The general purpose of a homeowner’s association or HOA is to oversee the care and maintenance of the properties within the community by setting specific rules and regulations that every homeowner or renter must follow. A company that provides such services as HOA management in Los Angeles, on the other hand, assigns an HOA or property manager to help the HOA fulfill its duties and responsibilities.

HOA duties and responsibilities

An HOA is usually established by the property developer, which basically means individuals and families looking to buy a property within the HOA-managed community automatically become members once the purchase is finalized. But it’s not only property buyers that become automatic members of the HOA. Renters too become members if the property they are renting is within an HOA-managed community.

On that note, here are the general duties and responsibilities of an HOA:

  • Set rules and regulations to ensure properties, including common areas and properties, are well-maintained
  • Collect association dues and other fees
  • Keep track of finances, from dues and fees collected to ensuring there is an emergency fund for unforeseen events, and other relevant finance-related functions
  • Enforce association rules and regulations, and make sure compliance is 100%
  • Keep up to date with local and federal rules and laws regarding HOAs
  • Maintain community standards to create a positive impression, which helps increase or maintain property values
  • Investigate and resolve complaints and disputes between neighbors, and between the HOA and a homeowner (if applicable)
  • Ensure the safety and security of the community
  • Provide emergency assistance to homeowners, particularly natural disasters, or calamities

These are basically the general functions of an HOA. Depending on the location, residential community (single-family homes, condominiums, or apartments), HOAs may enforce additional rules or provide additional services.

Los Angeles HOA Management Services

Los Angeles is one of the most diverse cities in California and, arguably, the country. Communities comprise mixed-race, mix income demographics, which is why most homeowners’ associations here choose to hire the services of a company that specializes in both property and HOA management in Los Angeles.

In nutshell, a company that provides both property and Los Angeles HOA Management services offers the following:

  • Assist the Board of Directors in the day-to-day functions of the HOA
  • Select vendors and suppliers to help reduce costs
  • Oversee finances of the HOA, which include collecting and delinquency services
  • Perform random site inspections to ensure properties are well-maintained
  • Help enforce HOA rules and regulations, specifically CC&Rs and by-laws
  • Ensure that every homeowner actively participates in HOA-related activities
  • Oversee large construction and reconstruction projects
  • Provide 24-hour emergency assistance

So Cal Property Enterprises, Inc. specializes in property and HOA management in Los Angeles, Orange County, San Diego County, San Bernardino County, Inland Empire, and Riverside County.

Apart from the services mentioned above, So Cal Property Enterprises also provides the following assistance:

  • Respond to homeowner’s requests in a prompt manner
  • Provide a concise and written reports about the HOA’s essential activities, requests from the Board of Directors and homeowners, and other relevant event
  • Provide a copy of the minutes of Board meetings to all members
  • Attend monthly meetings of the Board of Directors

Want to learn more about HOA management in Los Angeles? Please feel free to browse our blog page. For questions, you may call us at (951) 270-3700.

Uncategorized

Property Management in a Nutshell: Understanding the Basics

If you own a commercial property, residential units for rent, or an idle piece of land, hiring the services of a property management company could be in order, particularly if your current location is nowhere near your properties or your busy schedule leaves no time for overseeing the care and maintenance of your properties. 

What do property management companies and why you need them 

The services that property management companies provide depend on the areas they specialize in. What this means for someone looking for a property management company to oversee their properties is that you will not find any two management companies that offer the exact services. However, there are common tasks and responsibilities that every property management company offers regardless of location. So, whether it’s a Corona, CA property management company you’re looking to hire or a one located somewhere else, they offer these common services for commercial and residential rentals: 

  • Advertising vacancies in appropriate channels 
  • Vetting tenants (checking their background, financial capacity, and so on) 
  • Drawing up rental contracts or agreements (ensuring all terms and stipulations are within legal bounds) 
  • Perform moving in and moving out inspections 
  • Overseeing property maintenance 
  • Collecting rentals on behalf of the owner or landlord 
  • Collecting fees where applicable 
  • Ensuring the property is properly used and maintained by the tenant(s) 
  • Act as a liaison between the tenant and the owner 
  • Conduct site reviews 
  • Review compliance and violations (if any) 
  • Vet contractors and suppliers for repairs, renovations, and such 

Depending on the property management companies you’re discussing services with, they may also offer the following: 

  • Accounting services 
  • 24-hour emergency assistance 
  • Act as the owner’s representative for the HOA, if applicable 
  • Reconstruction and large project management oversight 

Why you need it 

Taking into account everything that goes into managing and maintaining a property, especially a rental property, owners would do well to hire the services of a property manager for a relatively stress-free ownership experience. 

If your property is part of an HOA-managed community, the property manager can help ensure that whatever renovations or repairs you wish to make on your property are within the restrictions or regulations of the HOA. 

Additionally, property managers are well-versed in property laws, including rentals, compliance, and such. When you hire a property manager, you minimize your risk for litigation. 

Last but not least, property management services can help ensure your property is sellable should you decide to put it on the market sometime in the future. This is also why it’s important to focus on property management companies that specialize in your type of property and the services that you need. It’s also wise to choose a management company that has a good reputation in your area or the location of your property. 

Do you wish to learn more about property management, including Corona, CA property management services? Please feel free to browse our blog and community news pages to learn more. For questions regarding homeowner’s associations, property managers, and other related matters, you may call us at (951) 270-3700.