Buying a home is an American dream that most citizens aspire to. Sure, there are many types of homes to consider when you want to purchase one, but you must make sure that they meet your goals. Moving into a community bound by the regulations of homeowner’s association (HOA) is common enough. A member may take on the responsibilities of managing the HOA and deal with the associated nitty-gritty. Unfortunately, the board members are hard-pressed for time as many of them remain employed or pursue their professions at the same time. It thus makes sense to hire a third party or company adept in HOA management.
Such a move is likely to be appreciated as the fees for the services rendered are paid by the HOA. The cost is completely justified as experienced workers accept various responsibilities with the sole objective of running the HOA smoothly. The duties undertaken by the management company are diverse, but they may not be exhaustive. The role of the third party remains limited as the members of the homeowner’s association may decide to handle some of the tasks themselves.
Responsibilities of the HOA Management Company
The third party will complete some of the regular and repetitive tasks diligently for a fee. Besides, they will guide the volunteers and board members as and when needed. Some of the responsibilities that may be outsourced to them often include the following: –
- Common Area Maintenance– The community area will not only include the residential buildings. There is sure to be a swimming pool, walking area, garden, and gym or library for the use of the members. Like everything in life, these amenities have to be well maintained as well. This onus is undertaken by the management team that ensures swift repairs and replacement of damaged structures in time. General cleaning is also ensured by using an experienced workforce. The association area looks clean and well-kept enough to improve the curb appeal.
- Enforcement of Community Guidelines– The community will function smoothly when the general regulations and rules are well-known and adhered to by everyone. The management team must communicate the necessary rules along with their importance to individual members without exception. The management team often acts as the go-between or moderator when the HOA introduces new rules. Settling disputes for non-compliance with the standards may be taken over by the company too.
- Yearly Budget– The importance of money is unparalleled. Money matters can be intimidating for most people. Yet you have to regard it as a necessary evil, especially when drawing up the annual budget for the entire association. No worries! The management company is sure to have professional accountants in their team who are skilled enough to go through the records and work out a new budget plan according to the need. Although the final budget will be placed by the board, the HOA management professionals can help with the basics.
Finding the right HOA management company can be a blessing for a homeowner’s association. Their services are cost-effective and sure to reduce the burden on the board members who provide voluntary services.
