Many people have no idea what an HOA is or even how they benefit from it. Well, an HOA is just like owning your own house. But, you have to pay a fee every year to maintain it. So, why pay an annual fee to your Homeowner Association (HOA)? Well, HOA Property Management often presents a much more complex picture.
Most HOAs have a board of directors and a website that contain the complete day-to-day operations. This includes correspondence between residents and property management companies. This is the place where disputes between homeowners and HOAs can be resolved. The board of directors may decide to take specific actions or resolve conflicts between the HOAs.
On the other hand, property management companies work in a completely different way. They manage everything for the HOAs. For example, a homeowner association may want to put a swimming pool into the garden, but the property management company does not have the appropriate equipment. He cannot sell the pool because it belongs to the HOA and not to the property manager. Hence, the homeowner associations will refuse to allow the pool to be built.
As you can see, there are major differences between the two types of managing. Homeowner associations want to preserve their neighborhoods and are often very protective of their members. On the other hand, property management companies are here to make money and are usually not concerned with the success or failure of the neighborhood. If something goes wrong, they will blame the homeowner association and claim that they were pressured into not acting properly. They can also refuse to pay fees.
Homeowners associations can choose to handle their dues by collecting them. This is not necessarily bad. All the dues that are due must be collected. However, if the HOA wants to use management to deal with their maintenance and repair bills, this can be problematic. First, it increases the cost of managing the properties because they will have to hire more employees, pay for advertising and marketing campaigns, and pay for the upkeep of the buildings and yards. At the same time, if the dues remain unpaid after the establishment of the HOA, the association could face legal action from the individual homeowners.
When it comes to keeping property values intact, the right management company for an HOA can do a much better job than a homeowner association. They can ensure that the maintenance and repairs are done on time, that the lawns and landscaping are well kept, and that all the exterior lights and signs are working properly. These things can actually raise the value of the property. Therefore, it is often better for HOAs to use management to address the maintenance and repair issues.
The right HOA property management company is a part of a network of professionals who work together on a regular basis to keep the association’s properties maintained in good shape. They have the manpower and the tools necessary to make all the necessary repairs and maintain the site. They also have the ability to negotiate new terms with homeowners that might be able to reduce the amount of dues due for future years so that they are more easily able to pay off the balance. They can even help to keep properties from becoming foreclosed, which is the last thing any homeowner wants to see happen.
When an HOA decides to use an association management company, they must first check out several management companies. The best ones to work with are those that charge a flat monthly fee rather than an annual one. These are especially good for HOAs that might not be able to charge all of the necessary fees every year. They must also look at what types of services each management company offers. Some companies may specialize in handling just one type of issue for the community, such as maintenance, while others will handle all of the different issues that occur on a regular basis.