Providing leadership to a homeowners association (HOA) can be a tall order. Not only are you tasked with maintaining property values and upholding your fiduciary responsibilities, but you also play a significant role in fostering community, planning events, resolving disputes, and ensuring your HOA is a pleasant place to live.
Due to the weight of responsibility that the average HOA Board faces, it comes as no surprise that most of them eventually outsource certain duties to an HOA management company. The more your HOA grows, the more likely it is that you will need to enlist an on-site management partner.
If you’ve never worked with a community manager before, it’s understandable that you might have a few questions about exactly what these companies do. All HOA management companies differ in subtle ways, but there are a few tasks that are the same across the board.
Here at Kuester Management Group, we have a proven track record delivering HOA management in Charlotte NC, Huntersville NC, Myrtle Beach SC, even HOA management in Fort Mill SC. We are happy to provide a little bit more insight into all the ways in which a company like ours can support your Board, and ultimately make life better for your residents.
What to Expect from Your Management Company
When you first meet with a potential manager, they should spend lots of time asking questions, getting to know the needs of your community, and providing you with an individualized service plan. Every community is going to have different needs and pain points, and your management company should be responsive to that.
With that said, consider a few of the types of services you might request from your HOA management team.
1) Financial Management
Stewarding the association’s financial resources is an important aspect of Board leadership. It can also prove quite challenging, especially if Board members do not have a background in accounting. And, because the consequences for mishandling funds can be so dire, this issue is quite high-stakes.
That’s why many HOAs enlist management companies to implement sound financial policies, and to help Board members maintain their fiduciary responsibilities. A management company can lend its financial expertise in a number of ways, including creating the budget, ensuring proper maintenance of financial records, generating actionable financial reports, and conserving funds throughout the course of day to day operations.
2) Enforcing Policies
Every HOA has a set of bylaws in place, including rules and regulations that govern community life. It’s critical for everyone in the HOA to follow these rules, and for Board members to enforce them fairly. This is an area where an on-site property manager can be invaluable.
Specifically, your management team can help enhance safety, resolve disputes, and maintain compliance with the community’s standards of aesthetics.
3) Coordinating with Vendors
Every HOA community needs trustworthy contractors and vendors to handle lawn care needs, to make repairs as needed, and to ensure common areas are maintained.
A good HOA management team will have strong connections with local vendors, allowing them to procure the services your community needs at a competitive rate. Your management company can not only assist in the vendor procurement and negotiation process, but they can also oversee the vendor’s work to ensure satisfactory results. This commitment to quality control benefits everyone in the community, all while minimizing the impact on the annual budget.
4) Overseeing Administration
There are countless administrative tasks associated with running an HOA community. Your HOA Board of Directors doesn’t have time to handle all of these tasks, but outsourcing to a management company can help. Some examples of administrative duties you can outsource to your manager include:
- Planning, scheduling, and assembling the minutes for Board meetings.
- Answering calls, emails, and voicemails from residents as well as those seeking homes in the community.
- Coordinating activities related to the annual budget, accounting, and invoicing.
- Planning community events.
These are just a few of the basic tasks that your Board of Directors can pass along to a qualified HOA management team, saving you a lot of time and ensuring great results.
5) Assisting with Communications
It’s imperative for Boards to maintain an open line of communication with homeowners. This means ensuring consistency, clarity, and efficiency when responding to maintenance requests, sending out rules violation notices, or simply informing the community via a regular newsletter.
A good HOA management team will be able to provide the tools and technologies needed for your Board to facilitate clear communication, including online payment portals that make financial matters much easier to manage.
HOA Management Companies Exist to Support the Board
The bottom line? A qualified HOA management team will be prepared to support the authority of the Board in a way that promotes quality of life for everyone in the Association. If you live in the Carolinas and are ready to seek exceptional community management services, reach out to Kuester Management Group today.
Frequently Asked Questions
What services do HOA management companies provide?
HOA management companies can provide a full spectrum of services, tailored to address the specific needs of your community. These services can include anything from providing financial statements to ensuring smooth operations in the front office.
What to look for in a HOA management company?
Our advice is to seek a management team that has many years of experience serving their geographic area, with a proven track record and strong relationships with local vendors. A commitment to continuous education is also beneficial.
