An HOA management company can save a community a lot of time, stress, and money. Like a general contractor that oversees the plumber, roofer and electrician on a job site, the Property Management Company is there to oversee the work being performed in your development. Though part of our job is to ensure that rules and policies are clearly defined and followed, our overall goal is to enhance the value of the community and the homes within it. A professional property management company can save your association money, manage vendors, improve relationships between neighbors and more. Hiring a management company is cost effective and brings many benefits to your community. An Accredited Association Manager Company will be able to work with your association to formulate effective financial, communication and maintenance strategic plan. It’s important that the Board and manager always work as a team. The Board adopts rules, enacts policy and approves the budget. The manager executes the plan at the direction of the Board, ensuring that the actions comply with governing documents and state and federal law.
Managing Budget, Maintaining Records, Responsible for Taxes
Provide accounting for the Home Owners Association
Attend Monthly and Annual Board Meetings
Make payments on behalf of HOA (insurance, utilities, contract labor etc.)
Detailed documentation of expenses via invoices and receipts
Maintain all historical records (paid invoices, inspection reports, warranties, etc.)
Provide annual reporting
Provide easy to read monthly cash-flow statements which offer a detailed breakdown of income and itemized expenses
Accounts Receivable & Payable
Maintenance, Repairs, and Remodeling
Provide and oversee an in-house maintenance crew
Establish a preventative maintenance policy to identify and deal with repair needs
Provide an network of licensed, bonded and fully insured contractors who have been vetted for good pricing and good work that is up to code.
Assign jobs to different parties (in-house employees, handyman and professional contractors) based on who will do the best job for the best price.
Maintain outdoor areas
Leaf and snow removal
Removing trash and debris
Maintain and monitor a 24 hour emergency repair hot-line
Larger renovation or rehab projects
Provide recommendations on how the project can maximize rental income.
Prepare preliminary cost estimates
Get multiple independent bids for the work
Act as general contractor overseeing the work