But, in fact, the company is simply there to enforce the rules that the HOA themselves set up. Homeowners mistakenly think that the property management company created the fine schedule, or the rules. These companies send out letters for fines and overdue assessments based on the fine schedule that the HOA creates. For example, condo association property management companies can offer a means for online payments and a community website. Homeowners’ association property management companies have tools for HOAs and their members to use to help with administrative tasks. The amount of work and expertise required to run an HOA is the reason they hire HOA property management companies. Property management companies work for HOAs That is why it is crucial that the HOA effectively collect assessments, and a key reason why HOAs hire a management company. If the association runs out of funds for the things it needs to pay for, the homeowners will suffer the consequences. In addition, the board members have a fiduciary responsibility not to mismanage the community’s money. HOA property management companies often help plan, and oversee, the association’s budget. In a condo community with many units, this is a very large task. Also, an association is responsible for managing vendors for repair and maintenance of all common areas. The association board is there to enforce the rules and work with homeowners who don’t like the rules. Managing an HOA is a lot of workĭepending on the size and type of community, especially condo associations, can be quite a lot of work. HOA property management companies exist to help condominium, townhome, and homeowners associations manage their administrative tasks, and to be advisors on expertise that board members may not have. The role of an HOA Property Management company If you feel that attending board meetings has not been successful at getting your needs met as a community member, consider joining the board the next time a seat opens up. They pay assessments just like everyone else in the association. They must be homeowners within the community, and are not paid. HOA board members are volunteers who care about the community enough to dedicate their time. These documents were created at HOA inception, and can be revised and amended as needed over time. HOAs have governing legal documents that state the rules and regulations for the community, guiding how it is to operate. An example is choosing and hiring a paving company. Homeowners elect board members to represent their interests within the HOA, such as managing the budget and taking care of administrative tasks.

Leading a homeowners’ association is an HOA board. HOAs also add value and make their communities more attractive to buyers by enhancing their quality of life.Ĭondo associations have additional responsibilities, since members share more walls, as well as hallways, roofs, and parking lots. This includes shared walls (and any pipes within in them), and shared outdoor property such as neighborhood signs or clubhouses.

But, for shared property, someone needs to represent the interests of the homeowners who share. Homeowners are responsible for what is clearly their own property. The role of a homeowners’ association for single family and town home communities is similar. In this article, we explain the difference between the homeowners’ association and the HOA property management company. It is a common misunderstanding that property management companies are the party at the root of these issues. Yet, when homeowners attempt to solve these problems, they often contact the incorrect party, resulting in a delay in the result they are hoping for. You may not deem fair one of the community’s rules. As a condominium owner, it is natural to feel frustrated when it takes too long for a maintenance vendor to arrive, or when you head to work and the parking lot isn’t plowed.

Hoa management companies