Running a community effectively can be challenging. Often, a Home Owner’s Association (HOA) manages a community’s business affairs while balancing its needs and wants. But, such responsibilities are usually more than volunteers can or want to do without support from professionals. This makes HOA management by a third party a vital consideration. Keep reading to learn more about HOA management:
General Responsibilities of HOA Managers
Because HOAs are governed by boards that include community members with duties on a volunteer basis, a lot of associations turn to phoenix hoa management companies to help them in covering the large scope of responsibilities. Generally, an HOA management company has the responsibility to guide and consult with the board to fulfill their duties. They also execute the directives, decisions, and policies the board approves as well as document transactions accounting.
While the board of directors makes decisions, the HOA managers fulfill the actual dues collection, vendor payment, maintenance, as well as serve as the main homeowner point of contact.
The specific responsibilities of HOA management companies are broken down into the following sections:
- Administrative services. An experienced manager will serve as the main contact of the community. They can offer easily accessible support as well as schedule and attend board meetings. The manager also offers monthly management reports, guide the board through annual budget preparation, enforce community rules and regulations, as well as respond to inquiries from homeowners.
- Managing receivables. Expert HOA management companies are well-versed in collecting delinquent accounts. Their debt management practices include billing, reporting delinquent accounts and updates to the board of directors, working with the attorney of the HOA when coordinating legal action, and more.
- Managing the site. The board of directors and management company must be familiar with the HOA rules and enforce them uniformly among members. The tasks of the manager during on-site visit includes billing, inspecting rule violations, coordinating different activities approved by the board, and ensuring the completion of lawn care, pool cleaning, and other vendor tasks. Want to form a Nonprofit? Read more about it on TRUiC