Many townhomes, condominiums and the likes help the homeowners’ association to carry out their duties through third-party management. Depending on contract negotiation and managerial efficiency, the manager can fulfill all duties that the HOA are obliged to perform fully or partially. Whatever the case is, managerial power is derived from what the HOA is capable of doing.
The role played by the homeowners’ association is crucial and a subject to the volume of power vested in it by the covenants, restrictions and codes. Usually, the HOA supervises maintenance works of the common areas within the premise and provides shared services. The association collects dues, uses the sum to pay the bills and administers the reserve fund to save money for major works. The association also implements the community codes and rules as well as solves disputes between the community members.
Problems of HOA
A board comprising the elected community members is in charge of governing the homeowners’ association. You may have a wish to play a crucial role in running your community. The first step to fulfill your wish is to be a part of the board governing the HOA. It must be remembered that you need to be elected in order to get membership in the board.
Before enrolling your name for the election, you must know that the homeowners’ association plays many important roles and you won’t receive any payment for your service. It is one of the strong reasons to force many homeowners’ association to approach third-party management to run the community. The volume of work is too heavy to do and that is why, many associations turn to a third-party house for help. It brings efficiency in overall community work management.
The management firm of any homeowners’ association helps the board perform its duties. The board is entitled to make decisions on strength of a full-scale management contract. The board performs a number of duties, depending on the power given to it as per the contract. The board collects dues, does property management and pays bills. In addition, they also receive calls from the residents regarding the problems they face and handle disputes by enforcing the Rules and Bylaws.
The managers are also entrusted with the responsibilities of handling a lion’s share of the administrative work on behalf of the board. These works involve scheduling meetings, manages reserve fund, preparing budgets etc. The board sets policies and makes major decisions with help of management.
Expenses for HOA Management
The HOA managers take fees for their service. However, the charge varies from one provider to another. What Glendale HOA Management Service provider charges is least expected of others. Usually, the fee depends on several factors including a flat rate and the volume of work done by the HOA managers. Hiring a professional management group is a cost-saving idea, provided the managers coordinate maintenance works better and do the work more efficiently. HOA management via a third party adds to expenses but it brings benefits for most boards.