HOA v. Property Management Responsibilities
Homeowners Associations benefit greatly when they bring in the right property management company. Professional property managers relieve stress by handling the day to day operations of the Association; Thereby freeing up valuable time for residents and Board members alike.
The Association’s Board of Directors, its homeowners and the property management company all play an integral role in the prosperity of the Association. To ensure expectations are met, it is important to understand the roles and responsibilities of everyone involved.
Property Management Company Responsibilities:
The best property management companies understand that Associations have different needs. With this in mind it is important to find a property management company that can tailor their services to the needs of your community.
Below are a few basic services provided by most property management companies:
- Manage day to day operations of the Association
- Collect assessments
- Enforce Covenants & Restrictions
- Schedule general membership meetings
- Respond to homeowner inquiries and concerns
- Report regularly to the Board
- Ensure quality vendor performance
Simply put, the property management company is the enforcing arm of the Association. The management company’s job is to execute and enforce the decisions of the Board of Directors.
Often times homeowners confuse the roles of their Board of Directors and their management company, especially when it comes to rule enforcement. Despite what most homeowners think, property management companies do not have the authority to make assessments or rules for the Association, nor does it decide on the penalty for non compliance. Those decisions are made in accordance with the Association’s governing documents and, in most instances, by the Board of Directors.
Our goal at Gulf South Property Management is to partner with your Board of Directors to optimize property values and ensure a harmonious living environment for you an your neighbors.
Homeowners Association Board of Director Responsibilities:
The governing documents of the Association (By Laws, Covenants & Restrictions, Architectural Committee forms) dictate how the Board of Directors is formed and what committees should be in place to keep the Association running smoothly. While this differs from Association to Association there are some common responsibilities found on most Boards.
Below is a list of common Board responsibilities:
- Draft rules and regulations for the Association
- Review and assess the work of the property management company
- Establish and maintain committees
- Set operational and reserve budgets
- Set special assessments as needed
- Elevate issues that cannot be resolved in the normal course of business
The Board of Directors oversee the actions of the management company closely and are responsible for providing guidance on how and when issues should be elevated. Together, the Board of Directors and the property manager keep the Association running smoothly.
And last, but not least….
Unlike tenants in residential real estate, homeowners have a much larger stake in the management of their Association, and for good reason! Preservation of their largest asset is important to everyone.
Below are a few ways homeowners can assist in the management of their community:
- Clean up after pets and ensure they are leashed
- Follow the Association’s Covenants & Restrictions
- Keep trash bagged and in cans
- Become an active member of the Association
- Report crime to the proper authorities (vandalism, speeding, theft)
When homeowners, Board members and property managers understand their respective roles and responsibilities everyone works together to maintain and improve the property value of the Association.
For questions on this article or to discuss how Gulf South Property Management can add value to your Homeowners Association, please contact us using the form below or feel free to stop by our office.