Remote or Traditional HOA Management
Which one is best for your community?
What’s the Best Type of HOA Management for my Community?
Living in a residential area that is governed by a homeowners association has been shown to confer many benefits on the resident population – such as activities for minors, fostering a greater sense of community, raising property values and much more. The dues are often quite reasonable, and the governing board is open to all adult members of the community. As part of the board, you would have a say in matters ranging from the financial, to project implementation and beyond.
With that said, many times it can be difficult for members to fulfill some of the obligations of an HOA, because of both the time involved and the level of financial detail in some of the more robust communities. This is where Management Companies come in, using the combined decades of expertise of its members to make sure your community management stays in top shape when it comes to financial and bookkeeping matters.
What is the difference between Remote HOA Management and Full Service Management?
Clark Simson Miller’s Remote Accounting Management includes:
- Dues processing
- Collections processing
- Invoice processing
- Tax processing
- Expert managers to monitor your community and answer any questions
- Expert accounting reports available every month
- Accounting portal featuring current financial information for Board Members
- Accounting portal featuring current statement information for homeowners
- Accounting support for homeowners via email or over the phone
- Insurance review and processing
- Mailing of community notices, billing, violation letters, collection letters, etc.
- Process estoppels / unit resales
- Assist with annual budget preparation
- Consistent, periodic reporting on financial matters – including monthly and annual billing
What kind of community would benefit from Remote HOA Management?
Communities with smaller budgets – Clark Simson Miller quotes are typically 40-60% lower than full service management
Communities who want transparent accounting or board members who do not want the personal liability of managing the association’s finances.
Communities who struggle with organization or getting volunteers
Communities that are looking to change from a full service company to a self-managed model.
Contracts for full service management generally include:
- Accounting Management
- Maintenance Management – Maintaining homeowner service requests (broken fences, clubhouse shutters need to be repainted, etc)
- Violations Management – Neighborhood drive throughs and property inspections, sends out violation letters and handles the full enforcement process.
- Architectural Request Management – Processing Architectural Variance Requests and forwarding to the Board Members or appropriate committee to review/approve/deny – and sending letters as requested
- Amenity Management – Process reservation requests, manage pool keys / fobs, gate controls, etc.
What kind of communities typically need full service?
- Communities with many maintenance responsibilities and need it managed by an outside company or need 24/7 emergency response
- Communities who struggle excessively with violations or have a large number of homes to be inspected and do not have the time to manage