When homeowners associations hire a property management company, there are specific benefits they expect. These usually include maintaining the landscaping, pool and common areas, handling the accounting, and managing the relationship with vendors. However, once a management company is in place, HOAs often discover that there are “bonus benefits” that they may not have thought of. Here are a few examples.
Running a meeting is often easier for a property manager than an HOA board member. They can keep it short and in order, and are often in a better position to divert distractions from someone who has a bone to pick.
Also, a property manager is more likely to have the time to quickly write up the minutes and post them to the HOA website.
Not all association boards have someone with the time and expertise to maintain a website. On the other hand, many property management companies already have professionally maintained websites that the HOA can easily piggyback on.
In addition, many management companies provide payment portals to simplify the payment and collection of HOA fees.
Laws and Regulations
There are a number of federal, state, and local regulations that HOAs must adhere to, including those around the rights of renters and the acceptable procedures for acting against an owner who is in default on dues. A property manager who works with multiple HOAs in a locality can help keep the boards in compliance. Furthermore, they can anticipate situations where legal or regulatory issues are likely to arise and give the board members a “heads up.”
When a crisis occurs at two in the morning, a property management company has the experience and the resources to deal with it. They’re more able to act expeditiously than a board member who wasn’t expecting to be awakened.
Furthermore, property managers have contacts among local contractors and will have more ideas of whom to call for an unusual problem that’s beyond the scope of the HOA’s regular maintenance vendors.
Screening New Residents
A property manager is in a better position to conduct background checks. This is particularly helpful in an HOA that has a significant number of landlords and rental properties. Often associations with condominiums have an increased need to vet people moving into the community.
Deflecting Resentment from Board Members
There are situations where someone has to be the “bad guy,” such as pressing for overdue fees, regulating property violations, and collecting fines. Things run more smoothly when this is a property manager rather than a board member who may live next door.
North Point Property Management can provide standard services and bonus benefits to your community association. To learn more, we invite you to reach out to us at North Point Property Management.