A homeowner’s association (HOA) oversees the safety of the community, puts regulations in place to maintain property value, and basically functions as the caretaker of the community. HOAs are run by an elected Board of Directors, which is generally comprised of homeowners with professional and personal lives to juggle. Property management for HOAs can assist the Board in the day-to-day functions of the HOA. 

The property management company will help ensure that the HOA is functioning as it should, which is why you should take the time to choose and HOA management team that is the right fit for your community. To help you get started, here are a few factors to look for in property management for HOAs: 

1. Has a good standing in the community

You know that a business, service, or company is worth a second look if they have a good reputation; a good standing in the community. It takes years to build a good reputation, so if the property management company you’re looking to hire is well known in the community for their excellent delivery of services, you’ll know the HOA will be in good hands. 

2. The HOA property management team is comprised of professionals

The duties of an HOA management team are diverse and varied, which is why it’s normal to find a team with members from different professional fields. For instance, the HOA management team for your homeowner’s association may have an accountant or finance expert to take care of the financial aspect of the HOA. There may also be an IT expert on the team to take care of all forms of communication, from emails to voicemail, SMS, and more. Double-check the types of professionals working for the management company as they could possibly be included in the team you hire for the HOA. 

3. Has the experience and expertise to help the HOA cut costs

An excellent HOA management team knows how to help the HOA function at its best, at a minimal cost. Understanding that the HOA runs on funds collected from the homeowners, the HOA management team should be able to help the HOA cut down costs, finding cost-effective solutions to such concerns as emergency repairs, maintenance checks, and the like. 

Do you wish to learn more about property management for HOAs? Please feel free to browse our blog and community news pages. For questions, you may call us at (951) 270-3700. 

Commercial real estate comprises properties used to generate income like hotels and shopping malls. Owners of these properties either handle all the day-to-day tasks of managing these buildings and properties or they have a professional team that specializes in property management for commercial real estate to oversee the care and maintenance of the properties. In either case, these properties require attention and constant monitoring to ensure these are being used, and functioning, as intended. 

If you own a commercial property for lease, you might be wondering what property management for commercial real estate can do for you. Here are a few ways a property management company can help: 

1. Keep your books organized

One of the jobs of a property manager for a commercial estate is to collect monthly rental fees from tenants. If a tenant is delinquent, they also need to follow-up and work to resolve the late payment/s without getting the property owner involved (at least as much as possible). That said, your property manager will also work as your accountant, at least in the capacity of collecting dues, monitoring expenses for repairs, and such money related tasks. What this all boils down to is your property manager helps to keep your books organized, primarily for monitoring and auditing purposes. 

2. Ensure the property always has tenants

You know you’ve hired a good property manager if you have good tenant occupancy. A property manager that excels in their job knows how to sift through tenant applicants to find the right one for you. Secondly, they know how to take care of tenants, which is why you have long-staying tenants. In a nutshell, you know you have a good property manager if your property is always occupied by excellent tenants. Vacancies are few and far between. 

3. Schedule regular maintenance checks

A good property manager knows not to wait for things to get broken before scheduling maintenance. They know that prevention is better than cure, so to speak, which is why the schedule regular maintenance checks to ensure that everything is working as it should. And if repairs are needed, they work on having these done without delay. 

Do you have questions about property management for commercial real estate? Please feel free to browse our blog posts. And if you’re interested in learning the latest in homeowners’ associations and property management in California, please stay tuned to our community news page. 

Apartment rentals provide owners with income that comes regularly every month. While this is good business, it doesn’t come without its challenges. In fact, owners will tell you that being both owner and landlord is perhaps one of the most difficult things they’ve even done. Property management for apartments can dramatically ease the burden of the owner and/or landlord. 

Here’s how: 

Pre-rental stage 

The pre-rental stage is simply that period where the property manager takes care of the nitty gritty details pertaining to getting the apartment rented out. Briefly, the steps a property manager will take to ensure you get the right tenants for each of your apartment units include the following: 

• Assessing and evaluating the property to accurately determine a fair rental fee 

• Repairing and/or replacing fixtures, utilities, and other parts of the unit, including rooms, walls, and ceilings 
• Taking photos of the unit for advertising purposes 
• Advertising the unit/s for rent 

Pre-moving in stage 

An important aspect of property management for apartments is finding the right tenants for the owner’s rental units. Having the right tenants minimizes the risk of vandalism, for one; and gives the landlord or owner a certain level of assurance that their unit will be in good hands. So, before a unit gets lived in, the property manager will meet and interview potential renters. They will check the renter’s capacity to pay the monthly fee on schedule as well as spend for the maintenance of the apartment, among other financial considerations. 

Here are some of the things covered in the pre-moving in stage 

• Vetting tenants 
• Choosing a renter based on criteria previously discussed with the landlord or property owner 
• Proper and timely communication with rejected tenants that someone had already been chosen to allow them to look for other options 

Moving-in stage 

As renters have been chosen, the property manager will double-check the unit to make sure it is up to state safety standards. The property manager will also double-check everything to ensure it’s ready for occupancy. 

In sum, the moving-in stage entails the following: 

• Double-checking to make sure all necessary repairs, replacements, and adjustments have been made based on what was previously agreed upon by both the landlord/owner and the property manager 
• Making sure the unit is ready for occupancy 
• Making sure tenants have the correct moving-in date 

• Coordinating with building administration and getting all the necessary permits before the move-in date 

Rental stage 

This is perhaps one of the most challenging aspects of property management for apartments. The property manager will oversee everything that has to do with tenancy to protect the landlord’s interests without neglecting the needs of the tenant/s, including making sure rental fees are paid on time to performing scheduled and pre-approved site inspections. 

Do you have questions regarding property management for apartments? Please feel free to browse our blog page. 

Whether you own a second property or several other properties, you would need help managing them particularly if said properties are not within the same city or even state as your current location. Now, if you’re looking for a Corona property management company to oversee the care and maintenance of your properties, among other things, in Corona, CA, the first you should know is that not all property management companies are the same. Not all of them offer the same services. And not all of them give you value for your money. On that note, here are a few things to remember when choosing a property management company:

HOA property management information: Finding the right property manager for you

Location is everything

When it comes to finding the right property manager for the job, proximity matters. So, if your properties are in Corona, then you should focus your search on property management companies serving the area. It would be best to hire a Corona property management company with an office right in the city. This way, the property manager assigned to you can readily go to your property for emergencies or unforeseen events.

Additionally, a property management company located where your properties are know such important HOA property management information as state and federal laws regarding homeowners’ associations (most properties these days are within HOA-managed communities). This reduces your risk for violations, or in worst case scenarios, litigation.

Reputation is key

When choosing a Corona property management company, you should check how long they’ve been in the business and how well they’ve been so far managing the properties under their care. In this regard, you would want to check out first those companies that were referred by friends, family, or other people that you trust. Ask your real estate agent if they have recommendations as well.

You’d want to focus on companies that are well-known in the area for being good property managers. Those that owners can fully trust and rely on.

What does your gut say?

Last but not the least, listen to your gut. Even if they check all the boxes but you still feel that something is off, then you’re probably right. Follow your instinct and look for another property manager. In situations like this, it would be better to err on the side of caution than find out too late that your instincts were right all along. Unfortunately, there are property managers that do not have your best interests at heart. And often, this means paying exorbitant fees for poor service.

As a last reminder, do not be in a hurry to hire a property manager. While you may feel that you are pressed for time, rushing to hire property management services could result in neglecting or overlooking important considerations.

Are you looking for more HOA property management information? Please feel free to browse our blog page for the latest articles on HOA and property management, and other related matters. For other questions, you may call us at (951) 270-3700.