The Benefits of HOA Management
A homeowner’s companies in NC association (HOA) is an organization made up of boards of members elected by the community. While you can volunteer to be a member of the board, you will not get paid for the work you do. For this reason, many HOAs turn to professional third-party management to handle the tasks involved with running their community. The sheer amount of work involved is simply too much for the average HOA board member to handle.
The work of a property manager is extensive and includes overseeing vendors and community needs. Typical tasks include lawn care, pool management, renovations, security, and landscaping. The manager serves as the main point of contact for all vendors and ensures contracts are followed. When necessary, they also solicit bids from new vendors and review them with the board to ensure that everyone is happy. Once they’re hired, the board can focus on more pressing matters.
HOA management companies often have relationships with top-tier vendors and can guide homeowners to the best service providers. Inappropriate vendors can result in fraud, substandard work, and inadequate insurance coverage. HOA management companies should also be experienced in collecting past due accounts. State and federal laws govern the collection of past-due accounts. Choosing a management company that has a proven track record will ensure your community is kept safe from fraud and other issues.