Property managers and HOA management both hold great responsibility when it comes to condos. However, while each position helps each other for a common purpose, they are different in many ways.
What is the Responsibility of an HOA Management?
An HOA management company makes the rules for the condo community. These rules help maintain a standard of living, making sure all properties adhere to a consistent appearance and that homeowners and renters follow agreed-upon community standards. These managers will regulate exterior maintenance like landscaping, and aesthetics like house paint, noises, pets, and common areas.
HOA managers also have legal authority to issue fines, or in extreme cases place a lien on the property when a homeowner or tenant violates community rules. HOA managers will also hold the following responsibilities:
- Hiring vendors to take care of neighborhood common areas
- Collecting dues from homeowners and managing late fee collections
- Serving as HOA’s bookkeeper and accountant
- Homeowner support including answering HOA-related questions
What is the Responsibility of a Property Manager?
Property managers work for HOAs and help with different administrative tasks. They often act as advisors to HOAs providing financial and accounting services. They will ensure that tenants pay rent on time, that the property stays in good condition, and that tenant issues are solved quickly.
A property manager will work directly with tenants for rental properties and will oversee real estate assets. This also means that they will enforce community-wide HOA rules making sure specific tenants are following the rules within the community. So while HOA management makes sure that the entire community environment is within standards, property managers will focus on individual home compliance.
How HOAs and Property Managers Work Together
An HOA board has a lot of responsibilities within their condo community. That is why they hire property management companies to help take the load off by taking on various tasks. The HOA board will determine what responsibilities they can hand off to the property manager which could include the following:
- Day-to-day operations
- Maintenance and repair of common areas
- Collecting dues
- Enforcing community rules
- Operating the financial and business aspects of the company
Enlist Thayer & Associates HOA Property Management Services
At Thayer & Associates, we manage more than 5,000 condominium units. We have expertise in financial management, maintenance management, project management, and administrative services. With our team, you’ll have an on-site representative who will act on your behalf, on-demand expert repair and maintenance, legal assistance, transparent communication, and meticulous record-keeping for all finances.