According to Lawyers.com, up to 70% of Homeowners’ Associations hire an HOA manager.
Our HOA property management requests are often for help enforcing rules and managing contracts, projects, and vendors.
Why Hire an HOA Manager?
When HOA boards are unaware when they are doing things incorrectly, they run a big risk. For example, they may not realize how to protect themselves against future legal issues, or they may get gouged on prices for projects. Failing to understand the future impact of taking notes and minutes according to best practices can put you in a disadvantaged position legally. Further, it is important to understand vendor contracts, and common pitfalls. While you should have an attorney, their reach and advice can only go so far. An HOA manger’s expertise and experience make for a fluidly-run association, saving headaches, time, and money.
The common elements in your community association need maintained, and often this involves vendors and contractors. Sometimes, like in the case of pools and clubhouses, involves a lot of attendance to rules, regulations, and upkeep. Gated communities have even more oversight, for roads, driveways, and sidewalks. An HOA manager helps negotiate vendor contracts and provides best practices for, and enforcement of, rules and regulations.
Garbage cans, fences, dog waste, parking restrictions are all examples of rules that need enforcing in order to keep the peace and maintain a community that attracts good buyers. An HOA governs the community entity, and CC&Rs are legal documents. Rules must comply with state law, and all must be taken care of properly if your do not want your HOA at legal risk. Angry homeowners are inevitable, and management of this is crucial to the success of the HOA’s future. Optionally, your HOA manager can do walkthroughs in your neighborhood on a regular basis to watch for rule violations.
The more common elements and rules and regulations your HOA has, the more complex meetings can be. HOA managers help structure and run the meetings, and, if the board desires, take meeting minutes. On average, HOA meetings are four times per year.
Some HOAs do more projects than others. Budget management in planning and executing projects is key, as well as knowing how to bid out a project and structure contracts in your best interest. Your HOA manager can manage the project, ensure it is on time, and that things go well throughout. If your small HOA doesn’t have the resources to do things like set up vendors with lockbox or keys, explain the project to them, etc. then a manager might be a good choice for you.
Customized to your HOA’s needs
We work with you to determine which services are of value to your association, and which are not. We create your package to just the level of service that is best for your HOA, whether that be full-service or just the pieces you need. For example, most HOAs want uniformity among homes, so we step in for rule enforcement. Or, you may only need property management accounting, where a staff accountant takes care of your accounts receivable and accounts payable. Learn more about our homeowner’s association financial statements here.