Why Should Your HOA Hire A Property Management Company In 2020?
Does your residential neighborhood have communal or shared space? Do you have an Association in place but are unsure of how to address the management of the property or implement guidelines. Does your condominium or complex have lots to do for upkeep but taking care of it on your own is daunting?
For your residential neighborhood and its shared spaces to stay well cared for, there must be some form of property management in place. If you are seeking support in the upkeep of your property so it is well maintained and presentable, administratively accurate, financially stable, an HOA Management Company can help.
If you are considering seeking professional support for the management of your property, here is a complete guide of what services a property management company can offer. If these items are in line with your needs, you should hire a property management firm near you.
Communal Area Maintenance
Property management companies exist to support residential and commercial properties in maintenance of the common areas of physical property in various ways:
If your residence or condominium has a pool on property it will need maintenance and care. A management firm can arrange for regular cleaning services, pump and water tests, including with chlorine or salt water pools and hot tubs, steam rooms and saunas. The common areas of your HOA may also include pool furniture or pool equipment that needs to be properly stored, and cleaned. Pools also require certain licenses and insurance, and property management firms typically incur this task.
Public areas on your property with grass, shrubs, trees or fauna will also need maintenance. If you hire a property management company they can arrange things like regular lawn care, mowing grass and leaf blowing, to less common tasks such as branch and stump removal. There are also zoning requirements on areas of grass or fauna to areas of covered land, permissible plant species and appropriate mowing times mandated by local government. Property management companies are able to advise and direct services accordingly.
Some neighborhoods have small community parks, tennis courts, basketball courts or public spaces. These areas need physical maintenance to ensure fences and other equipment are properly installed and working, and provide long term community enjoyment. HOA management companies can maintain your community park.
Physical roadways on your HOA property need care. Consider tasks like repaving, pressure cleaning, painting, and road cleaning. A property management firm will schedule, coordinate and ensure the roads in your neighborhood are well kept and presentable.
Lighting and Signage
An important service that property management companies offer is lighting and signage maintenance. There are often streetlights and lamps inside the neighborhood and sometimes on public roads on the perimeter of the property that fall under the HOA jurisdiction. Property management firms can maintain lighting and signage for your neighborhood or association. This involves routine bulb checks and ensuring signs are accurate, well placed and visible. This also involves bill pay and liesing FP&L or other electric companies.
Bottom line: hire a property management company to achieve a well presented and functioning property.
Property management firms can assist your HOA and the Board with various administrative tasks:
One of property management best practices is to elevate communication between the board and the homeowners. Management firms can assist in disseminating information and collecting data from residents. Consider building an HOA website to facilitate this process.
A management firm exists as an unbiased party to facilitate residents and the Board to adhere to community guidelines and regulations. By hiring a management firm you’ll have some support in enforcing any rules the Board creates.
A management company is a way to stay in line and up to date with all legal and governmental codes. Many policies are written and changed on a regular basis for local and state HOA’s and condo associations. A management firm should ensure you are up to code in all ways.
Bottom line: hiring a local property management company can support your HOA with good communication, and adherence to guidelines and laws.
Property management firms typically assist with financial management of HOA’s and condo associations in important ways:
In certain circumstances, homeowners must pay their HOA a cam fee, association fee or even special assessments. Property management companies simplify this process and alleviate this burden from the Board.
Management companies usually serve as the party to contract vendors to render services like lawn care or pool maintenance. Inasmuch, if you hire a property management firm they will facilitate your financial transactions like payments or outbound payroll.
Bottom line: if you hire a management company for your HOA they’ll keep you in the green from a financial standpoint
Which of these services would most benefit your community?
Property management firms should be hired to support the physical, administrative and financial care of your property.
If your residential property could be improved by the above services, contact us and we’ll help get you on your way to being an outstanding and well-managed property.