How Do Property Managers Help HOAs?

Homeowners Associations (HOAs) exist to secure and preserve the functional wellness of community of homes, including subdivisions, condominiums, townhomes, or planned community.

According to Legal Sources (HG.org) HOAs are needed since the 1960s because:

• They helped developers by allowing them to transfer the day-to-day operations of their properties to an association of the property homeowners once a certain percentage of homes were sold.
• They benefited municipalities by providing many of the services that they would otherwise need to provide, while still increasing the tax base.
• Homeowners in the HOA gained a single point of contact to handle all maintenance and beautification of common areas.
• Community issues could be handled by the HOA in accordance with the bylaws established for the community.
• Property values could be preserved through consistent maintenance of common areas and by establishing standards for the maintenance of individual homes within the community.
• Helping to get your HOA up and running
• Establishing and running an HOA requires thorough knowledge of the local statutes as well as the many administrative considerations that are involved. ^[1]

With this amount of workload, board members can only do so much, let alone taking on such responsibilities are without compensation and at times thankless.

In this predicament, property managers can assist board members by:

• Providing a robust financial oversight. Accounting helps setting the budget for major renovations, making sure that dues are duly paid, filing taxes and tracking profits and expenses.
• Providing effective maintenance oversight. Working as a contractor, property managers aid in hiring which “vendors” that would provide plumbing, roofing, street lighting, electrical supply, water systems etc., are qualified for the job. They help in bidding contracts, hiring and following up maintenance requests, making sure that home owners complains are properly addressed.

Therefore, having an HOA property manager not only significantly reduces the workload from board members, but also, improves communication among board members, homeowners, property managers and vendors to efficiently address issues being experience within their community.