Category Archives: Property Management

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.

Property Management

HOA Property Management Company Near Me: Accounting and Finance for HOAs

Nowadays, practically every neighborhood or community in the U.S. is managed by a homeowner’s association. This means that most home buyers or renters will be automatically included in the HOA once they move into an HOA-managed community. An HOA looking for a “property management company near me” often does so because they need professional assistance to ensure they fulfill their duties and responsibilities to their community.

Homeowners’ associations have a full set of responsibility that must be carried out by the Board of Directors and Board Members, who are homeowners themselves with day jobs and personal responsibilities. Juggling too many responsibilities oftentimes mean the HOA gets neglected and over time, this neglect can result in costly problems and issues that were completely preventable had the HOA been fulfilling its duties.

HOA Property Management in Corona, CA

So Cal Property Enterprises, Inc. specializes in HOA Property Management in Corona, CA and other key locations in Southern California. For homeowners’ associations and property managers looking for a “property management company near me” to provide them with professional and expert assistance in managing the community and/or properties under their care, a company like So Cal Property Enterprises, Inc. is just the right partner for you.

As mentioned above, an HOA has a full set of responsibilities they must fulfill. When one area is neglected, you can expect other areas to be affected as well in the long run. And of the different areas that an HOA is responsible for, the most difficult to manage for most is the financial aspect of the association.

Accounting and Finance Services

Professional Accounting and Finance services provided by a numbers expert can ensure that the HOA’s funds are always in the positive; that is, there will always be enough cash to pay for unexpected repairs, emergencies, and other unforeseen expenses.

On that note, it’s important to check the experience and expertise of the finance and accounting expert that will be provided by the “property management company near me” you’re considering. In a nutshell, HOA management company should be able to provide you with the following finance and accounting assistance, specifically, assist and educate in the following areas:

  • Vendor selection to help reduce costs
  • Delinquency and fair delinquent payments collection
  • Bookkeeping
  • Accurate recording of finances (collections, funds, expenses, etc.)
  • Finance and accounting best practices
  • Regular finance and accounting reporting and communication to homeowners and other stakeholders
  • Budget preparation and allocation
  • Building and maintaining a reserve fund
  • Accurate and accessible financial statements

From the list above, you can see why an expert in finance and accounting is crucial to the proper handling of the HOA’s finances.

So Cal Property Enterprises, Inc: HOA Property Management in Corona, CA and nearby areas

Do you wish to learn more about how an HOA and property management company can help your homeowner’s association function more effectively and efficiently? 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.

Apartment Buildings
Property Management

3 Key Property Management Duties and Responsibilities

Investment properties like condominiums and apartments or single-family rental homes practically need round-the-clock monitoring to ensure these are properly maintained. While property management duties and responsibilities run the gamut, the primary focus is to ensure that the properties under the care of the property management company are well-maintained to keep them up to standard.

If you own several real estate investment properties, hiring the services of a property management company could be an option worth considering. To help you get started, here are a few key property management duties and responsibilities to know about, so you’ll know what to look for when vetting property managers:

1. Oversee maintenance of the property

This is a broad term that covers everything related to the general state of the property. From making sure that every nook and cranny, every pipe and faucet, and everything in between are in tip-top shape at all times. When a pipe bursts or an electrical outlet loses power, it is the responsibility of the property management company to have these repaired without delay. They know that every day the repairs get delayed is one more day that increases the risk of more damage. The longer repairs take, the costlier they get, in other words.

2. Maintain property value

A good property manager knows how important maintaining property value is. So not only will they ensure that the property is well-maintained, as mentioned above, but also, they are always on the lookout for changes in real estate values and standards. This critical information helps them keep up with the changes thus ensuring the properties under their care are up to par with other properties in the neighborhood.

3. Ensure the property is up to HOA standards

There’s a huge difference between ensuring the property is up to par with the general standard and value of real estate in their location and making sure the same is up to HOA standards. Often, HOA standards are more difficult to follow and keep up with because HOAs have very specific rules about property maintenance. Property management duties and responsibilities also cover building a good relationship with the HOA by ensuring that all dues are paid on time, and rules about property aesthetics and such are followed down to last detail.

If you wish to learn more about HOAs and other related topics, please feel free to browse our blog page. You may also visit the community news page for more information on California homeowners associations.

Featured Photo by Tembela Bohle