According to the Foundation for Community Association Research, roughly 23% of the entire U.S. population lives in private communities governed by Condominium, Cooperative and Housing Associations.
When it comes to investing in real estate and managing tenants, property management services — such as an HOA management company — can make the work a lot easier. But what exactly is the role of an HOA property management company? What association management services are typically offered, and how do they directly affect the community?
To find out what you need to know about HOA property management companies, keep reading.
Association Management is NOT the Association Itself
A homeowner’s association is responsible for governing a community of families and homeowners. It’s their job to create CCandRs, to make decisions regarding the area’s aesthetics and maintenance, and define penalties for non-compliant homeowners. HOA boards are sometimes self-managed, made up of elected or volunteering homeowners.
An HOA management company, on the other hand, is responsible for actually carrying out and enforcing the decisions made by the association. It communicates effectively with the board, handles day-to-day operations, and performs continued maintenance for common areas.
These two entities are easy to get confused because they share similar duties. However, an HOA management company won’t ever make a sudden rule change. Instead, they will enforce the HOA board’s rules, while the board itself determines penalties for misconduct.
No Two Management Companies are Alike
Various HOA management companies provide a wide variety of services, but the exact services offered depend on the location and type of community. Whether for townhomes or single-family houses, basic services will often include budgeting, ongoing resident relations, management selection and training, emergency service, and basic property preservation and maintenance.
But other HOA companies provide more extensive services, such as snow removal, trash and recycling pickup, seasonal pesticide treatment, and even towing. It simply depends on the area and the company managing the association.
The HOA Management Company will Provide Information on Request
Some people assume that their homeowner’s association and property management company keep secrets from them. But this is almost never the case, and certainly not with a good association. An HOA and its management company will always ensure community residents know about critical updates and regulations. However, if homeowners ever have questions regarding their home or community management, all they have to do is ask for information. Architectural review changes, future planning documents, lists of contacts, and often even newsletters and welcome books are available to homeowners who need them.
Hopefully, this has helped clear the air for you about why HOA property management companies can be helpful, both to homeowner’s associations and to homeowners.