Typically, homeowners associations (HOA) are managed by individual volunteers who are members of the same community. This means that their respective roles in the HOA aren’t their day job, which also means there often aren’t enough hours in a day to fulfill all their responsibilities. This is where an HOA property management company becomes an indispensable part of the association.
What is an HOA Property Management Company, and what does it do?
Briefly, an HOA Property Management Company provides specific services to homeowners’ associations to make the job of the HOA Board of Directors and the Board Members a little easier and a bit more manageable.
These services cover finances, day-to-day tasks, and emergency assistance, to name a few. But for the HOA property manager to truly serve the HOA and assist it in its day-to-day functions, they must first find the right property manager, and this is where it gets a bit tricky.
To help you find the right property manager for your HOA, consider your HOA’s needs first to find a management company that offers services tailored to your needs. Some of the most critical areas that HOAs need professional assistance with include the following:
Managing finances
For most homeowners’ associations across the country, the most common critical area they need help with is the HOA’s financial department. An HOA’s finances aren’t easy to manage, from monitoring monthly collectible dues to budgeting, ensuring there are enough emergency funds, and ensuring all the money that comes in and goes out is accounted for.
So Cal Property Enterprises, Inc. specializes in financial accounting, delinquency, and collection services. For Board meetings, management reports, financial statements, and copies of bids received are all provided in the Board Member meeting package.
Board education
Let’s face it: not every director and board member knows the HOA’s specific functions or their respective roles. This is why you need a property management services provider to offer you Board education services. This will help all directors and members of the Board fully understand their specific duties and responsibilities, ensuring that the HOA is fully functional.
So Cal Property Enterprises, Inc. conducts professional small-scale seminars like New Board Member Orientation and Treasury Seminars.
Daily assistance
Finally, the HOA Property Management Company must assist the Board with daily tasks. This is a critical consideration for your choice of management company as it’s the day-to-day tasks that most Board directors and members find overwhelming, especially since they have other responsibilities outside of the HOA to take care of as well.
Your choice of property manager must assist you during the HOA’s office hours. A 24/7 answering service must also be provided for emergencies.
So Cal Property Enterprises, Inc. answers Board Member questions daily and provides after-hours answering services 24/7 for community emergencies.
If you have further questions or you would like to inquire about HOA management services, please feel free to call So Cal Property Enterprises, Inc. at (951) 270-3700.