Are you involved with a condominium association or a homeowner’s association (HOA)? If so, then you might be wondering about the possibility of hiring a property management company.
A great property management company can help to improve the quality of a community, and can help with a host of various elements, such as collection of dues. These types of management companies are helpful for individual homeowners as well, and can offer a wealth of different benefits.
What Can a Property Management Company Do for the HOA?
Property management companies are able to handle many of the day-to-day responsibilities of running a community. High quality management companies can provide help with the following:
- Collection of dues from homeowners
- Assessment of late fees
- Documentation of payment
- Communication with homeowners who are delinquent in payments
- Provision of statements
- Preparation of annual budget
- Choose and supervise maintenance and repair of common areas
- Enforcement of policies and rules