Homeowners associations (HOAs) are organizations that help maintain and manage communities. While some HOAs may be managed by a volunteer board of directors, others choose to hire an HOA management company to handle the day-to-day operations. In this article, we will discuss the services that HOA management companies provide.
One of the main responsibilities of an HOA management company is to handle the financial aspects of the community. This includes collecting HOA dues, paying bills and expenses, and maintaining financial records. Additionally, HOA management companies can provide financial reports to the board of directors and handle audits.
HOA management companies can also handle maintenance and repairs within the community. This may include tasks such as landscaping, pool maintenance, and common area upkeep. Additionally, they can handle repairs and replacements to community property such as signs, fences, and lighting.
Another important aspect of an HOA management company is to enforce the rules and regulations of the community. This includes issuing warnings and fines to homeowners who violate community rules, handling disputes between homeowners, and ensuring that the community is in compliance with local and state laws.
HOA management companies can also handle communication between the board of directors and homeowners. This includes sending out newsletters and other communication materials, responding to homeowner questions and concerns, and handling requests for information from potential homebuyers.
Lastly, HOA management companies are responsible for maintaining accurate records and handling administrative tasks. This includes keeping track of meeting minutes, maintaining homeowner and vendor files, and handling insurance and legal issues.
In summary, HOA management companies provide a wide range of services that help to maintain and manage communities. Whether your community is small or large, an HOA management company can help ensure that your community is well-maintained, financially stable, and in compliance with all laws and regulations.
If you are in need of HOA management services, please сontact Intempus Management. Our experienced team can help you with all of your community management needs.
Picture yourself out and about house shopping. You visit a neighborhood that captures your imagination. The beautiful lawns and landscaping further enhance the eye-pleasing houses coordinated by style and color on one street after another. Your real estate agent sees your eyes light up and explains that the neighborhood is part of an HOA. Anytime you buy a home in an area governed by a homeowners association (HOA), it will affect you, your family, your expenses as a homeowner, and your experiences in the neighborhood. HOA basics follow.
An HOA is a homeowners association. An HOA is a non-profit organization that handles community management and involves collecting monthly fees to pay for shared amenities and other expenses. All property owners within an HOA are required to pay the required fees and follow a set of rules and bylaws. The association establishes and enforces those rules and bylaws, usually through representatives elected by the homeowners.
HOA fees are the dues that each community homeowner must pay to cover amenities and the maintenance of all common areas. Fees range widely, starting as low as under $200 per year to thousands of dollars every month. The average cost of an HOA is estimated at about $170 monthly.
HOA fees help to cover:
The amenities provided by an HOA differ according to the decisions made within each separate organization. The more amenities, the higher the costs. The following are among the most popular amenities covered by HOA fees:
Services such as trash removal, landscaping, and building maintenance in shared spaces may also be provided by an HOA.
It is always important to find out the details about a particular HOA. Review the HOA’s bylaws as well as its Covenants, Conditions, and Restrictions—documentation commonly referred to as the CC&R—which outlines the rules of the community.
Read the CC&R to determine whether you want to live under the community’s rules. For instance, you may be required to get approval for any additions you make to your home or even before replacing your roof. Sometimes an HOA prohibits the freedom you might otherwise have to rent out your home.
As you carefully review a community’s CC&R, pay special attention to the consequences of breaking the rules. Punishments vary, and associations are all run somewhat uniquely. Usually, any violations or late payments first receive a polite reminder by mail and perhaps later in person. Most violations are resolved in this way. However, you could be charged a one-time fine or your fine may involve a fee for each day in which there was a violation. One form of punishment for breaking HOA rules is banning you from using common areas.
Failing to pay your HOA fees is one of the ways in which you break community rules. Typically, when you miss a payment, you will be charged interest and late fees. You are subject to being sued for unpaid HOA fees. In most cases, HOAs are able to put a lien on your house due to unpaid fees. The rules of the community may make it possible to foreclose on your home.
HOAs operate in various ways. It is most common that an HOA is run by a board of volunteer homeowners who live in the community, and the board members are typically voted in by fellow HOA members. Sometimes, though, a real estate developer or property management company runs HOAs.
The Pros of HOAs may include:
The Cons of HOAs may include:
Buying property that requires HOA membership may not be for you if:
A home in an HOA community may be a perfect fit for you if:
Real estate agents can help you by looking for houses only in neighborhoods that do or don’t have an HOA, depending on your preference. Or, if you aren’t sure, real estate professionals can help you sort out whether a particular HOA fits your needs and your budget.
