There is a prevailing misconception that HOA management companies and homeowners associations do the same thing. And to an extent, this is not inaccurate. There would not be a market for HOA management if this were the case.
A homeowners association establishes the rules of a neighborhood and is in charge of its upkeep and procedures. The association has the last say when it comes to everything that involves the neighborhood. At times, the homeowners association or HOA will need some assistance.
This is where HOA management comes in. An HOA management company may not dictate what the association does. But an HOA company may mediate affairs between the HOA and homeowners.
Read on to learn about how HOA management contributes to the HOA and its neighborhood.
Every neighborhood is different. Consequently, the problems and needs of each differ. An HOA management company begins its campaign by assessing the needs of the HOA and its neighborhood. By knowing what the HOA needs, an HOA management company can better fulfill its functions in a way suited for the HOA and the neighborhood.
Administrative tasks like appearing before homeowners when they ask questions are the responsibilities of an HOA member. Of course, an increased workload can prevent an HOA member from performing some of these tasks.
An HOA management company can take over administrative tasks. Tasks for which an HOA can hire HOA management are:
Neighborhood or site management is another function of an HOA management company. Site or neighborhood management is an HOA management company’s way of enforcing the policies of the HOA.
Under site, management is the enforcement of rules for:
Under finances, HOA management has two roles: accounting and the collection of fees. HOA management companies assist HOAs with their accounts. By balancing the books, so to speak, an HOA management company can give the HOA a clear picture of its performance from a financial standpoint. HOA management also takes care of collecting fees from homeowners and sending bills or invoices whenever necessary.
A collection of houses do not make up a neighborhood. One wherein the HOA and the homeowners communicate is. HOA management promotes community building by facilitating communication between the HOA and the homeowners.
As you now know, HOA management fulfills several roles. With community-building as its ultimate aim, it is an undertaking only qualified professionals can pursue.
If you are in North Carolina or South Carolina and are looking for a professional community management company to work with, be sure to contact our team!