The Role of an HOA Management Company: A Comprehensive Guide

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Teamwork in HOA community

Many Americans live in common-interest communities, such as homeowner’s associations (HOAs) and condominium associations. In fact, in 2022, about 26% of Americans lived in HOAs alone. That means thousands of communities nationwide designed to govern themselves and enhance home value for their residents.  

While most associations have a Board of volunteers that govern the community, sometimes those Boards are not enough. Your community may need an HOA management company to reach its full potential.  

But what are HOA management companies, and what do they do?  

In the rest of this guide, we will answer those important questions. So, let’s get started talking about the role of an HOA management company.  

What is an HOA Management Company?

HOA management companies specialize in providing management and administrative services to HOAs. They act as an objective third party, which helps them in their management role. HOA managers assist the HOA Board in running the community by managing various aspects of its day-to-day operations, communication, and financial management.  

There are a lot of benefits to collaborating with an HOA management company. These include the following.  

  • Expertise: HOA management companies are staffed with professionals with the experience and expertise to bring the most value to an HOA community. They will also understand the industry standards and local regulations, which will help them ensure that the community remains well-managed and compliant.

  • Savings: An HOA management company can save the Board valuable time and resources, allowing them to focus on strategic decision-making and long-term planning.

  • Community improvement: Efficiently managing the community and implementing improvements allows HOA managers to enhance the overall quality of life and maintain or even raise property values.

What does an HOA Management Company do?

Most HOA management companies offer a range of services, including the following.  

  • Administrative support: HOA managers can take on the responsibility of completing the many day-to-day administrative tasks that often bog down a Board. Organizing meetings, corresponding with residents, and much more are all administrative tasks provided by an HOA management company.

  • Financial management: Financial management is another important task that HOA management companies can complete. Most companies will have a dedicated financial department with experts who can guide a Board in creating budgets and managing expenses.

  • Property maintenance: Keeping a community maintained and looking nice is essential to a community association’s Board responsibilities. An HOA management company can help you maintain all communal property in your community. For life style communities and lake communities, this service is especially helpful.

  • Rules enforcement: HOA Boards are tasked with determining the rules that govern their communities. An HOA management company can help you enforce these rules.

  • Vendor management: Vendors keep a community running. From lawn maintenance to contractors, vendors perform many work-intensive tasks that keep an HOA looking nice. An HOA management company will hire and manage all vendors, handling this time-consuming and often frustrating task for your Board.

If your HOA is located in North or South Carolina, and you are looking for an excellent HOA management company, try Association Management Group (AMG). We provide property management services to HOAs, condominium associations, townhome HOAs, life style communities, common interest commercial properties, and more. Contact us today to learn how our dedication can help build a happier community.