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Across the US, more than 40 million households are in areas with homeowner associations.
HOAs can benefit communities in several ways, so living in one of these areas is often desirable. To provide further support, an HOA can work with HOA management services. These deal with various tasks so that HOAs can better serve the communities they represent.
Keep reading for a rundown of the services that HOA management companies provide in Santa Cruz, CA.
Site Management
An HOA management company is responsible for maintaining the site, including any common areas. This ensures that neighborhoods always look presentable, and facilities are in good order.
It can involve managing bulk trash, proper storage of large outdoor equipment, and maintaining areas such as pools and parks. If any major work is needed, an HOA management company will organize contractors for the task.
Billing and Collections
One of the most important HOA management responsibilities relates to finances. They will take care of billing and payments from residents. This can involve coordinating with the HOA's financial and legal council in some situations.
If there are any problem accounts, HOA managers can deal with delicate situations. At times, they may need to issue delinquent notices to residents.
Administrative Office Duties
Beyond dealing with finances, there are a range of other administrative tasks that HOA management companies can help with. They will often support the HOA by taking on various duties such as:
- Assisting with budgeting
- Answering calls and emails
- Creating and maintaining reports and records
- Coordinating board meetings
- Creating agendas for various events
- Assisting with accounting and invoicing
They can take these tasks on partially, or in their entirety, depending on what's decided between them and the HOA board.
Vendor Management
One of the key advantages of working with an HOA management company is that they generally have good networks with vendors. They can coordinate these when needed to help maintain the community. This often includes plumbers, electricians, landscapers, and more.
They can often find the best deals from reliable contractors to ensure the work is done properly while costs are kept down. They'll be the primary contact point for vendors, so the HOA board will be free to take care of other tasks.
Risk Reduction
HOA management companies can help keep onsite risks to a minimum. They do this by assessing possible liabilities and determining how to best mitigate any risks found.
This involves regulating safety hazards and addressing any outstanding risks. They'll make sure all community members are aware of potential risks. On top of this, they'll ensure the HOA's insurance coverage is sufficient and up-to-date.
HOA Management Services for Your Community
HOA management services can be very helpful to any HOA board and the community they serve. By taking on various tasks, the board will have more time to focus on other areas of importance.
PMI Santa Cruz is a real estate asset management company that offers HOA management among various other services. Take a look at our residential services page to find out more.
