Does your homeowners association need professional help? Is there no room in your budget for an on-site HOA manager? Enter remote HOA management — the answer to all your problems.
In this article:
- Hiring Remote HOA Management Services
- What is HOA Management?
- Roles and Duties
- What Is Remote HOA Management?
- Benefits of Hiring a Virtual HOA Management Company
- All the Services for a Fraction of the Cost
Hiring Remote HOA Management Services
There are a million ways where things could go wrong when it comes to living in a community and being part of a homeowners association. Nonetheless, it is without a doubt that the HOA board plays a huge role in a community.
The HOA board’s primary duty is HOA community management. Their responsibilities include various decision-making processes that affect the common areas and value properties within the community. They are also responsible for managing the finances of the community, implementing rules and guidelines among the members of the community, and ensuring that non-compliant homeowners have been penalized accordingly.
With that in mind, all of these business affairs done by the HOA board can be overwhelming. At times, they would opt to hire a community association management company in an attempt to lighten the burden of seeing to it that the community is being maintained properly.
What is HOA Management?
HOA management is the handling of tasks relating to a homeowners association. Many companies provide HOA management services to help the board fulfill its roles and duties.
One thing is for sure, an HOA management company can help you save tons of money. By hiring one, you can easily manage third-party vendors, improve the relationship of homeowners within the community, implement rules and regulations among homeowners, maintain certain common areas and public spaces, and more.
Roles and Duties
The beauty of hiring an HOA management company is that the power remains with the HOA board. Some of the roles of homeowners association management companies are as follows:
- Reviews the information and comprehend the necessities of the homeowners association
- Gains knowledge about the industry and state regulations as well as federal laws affecting HOAs
- Advises the HOA board regarding any pertinent decision-making processes
- Ensures that the HOA is managed in relation to what is indicated in the HOA’s governing documents
- Assesses financial statements and funding reserves and make suggestions to the HOA board
- Maintains detailed and auditable records for all transactions by the HOA board
- Ensures that the rules and regulations are clearly defined and consistent
- Suggests communication channels for covenants, guidelines, and restrictions to all residents
- Provides monthly reports to the HOA board and ensure that all of the data are available upon request to any members of the community
- Manages any third-party vendors for public area services and maintenance
- Maintains a complete and accurate vendor list for a number of services that the HOA board may need
- Attends HOA board meetings
- Manages the HOA board calendar for any scheduled visit to review the conditions of a particular property
- Recommends options that will aid in dealing with certain complaints within the community
- Suggests solutions and ensure that every action performed by the HOA board adheres to their overall objective
What Is Remote HOA Management?
Remote HOA management is basically HOA management but without the physical presence of a manager. The roles remain the same, only this time, services are provided virtually. This is why many HOAs also refer to it as virtual HOA management.
While regular HOAs can benefit from this service, it is usually self-managed communities that often seek the help of such companies. Self-managed HOAs rarely have the experience and expertise required to successfully run an association, particularly when it comes to financial management. However, that does not mean the service is limited to self-managed communities.
Some may scoff at the very idea of remote HOA management. But, given how far technology has come, more and more companies are beginning to offer similar services.
Benefits of Hiring a Virtual HOA Management Company
With all of these services provided by an HOA management company, you can ensure that you will have plenty of time to focus on the more important roles at hand. Furthermore, due to the evolution of the digital market, HOA management companies through HOA accounting tools can now assist you through online portals and such.
In fact, there are a number of property management companies that offer accounting and back-office services to so many associations throughout the country. By availing of their services, you will be able to save tons of money without compromising the quality of HOA-related tasks at hand.
Not convinced? Here are some of the benefits of hiring a remote HOA management company:
1. Virtual Presence
Running an HOA is hard enough when done alone. But, having someone constantly looking over your shoulder makes it even more difficult. With remote HOA management, you get assistance without the burden that comes with a physical presence. Plus, a sense of connectedness remains through technology. You can also fulfill your duties as a board member without fear of judgment.
2. Increased Productivity
Believe it or not, the HOA board will feel more productive when dealing with HOA matters through the services offered by a remote HOA management company. Why? Simply because they will be able to hone the tasks without constant distractions or interruptions. And, as you may know, a focused board is a productive board.
Hiring an HOA management company already allows you to save money. But, hiring a remote HOA management company further allows you to cut back on certain costs. For example, overhead costs that are spent on having employees work on location can be removed from your list of regular financial transactions.
4. Work-Life Balance
Board members have lives outside of the HOA. They are volunteers with full-time jobs and families to look after. By partnering with a virtual HOA management company, you can share your workload and feel the burden decrease. As a result, this allows you to spend more time doing the things you love with the people you love.
All the Services for a Fraction of the Cost
Technology has evolved ever since its debut to the world. It has allowed all of us to improve our communication skills with anyone from around the globe. With the services offered by a remote HOA management company, you no longer have to worry that the quality of the output is compromised. In addition to getting help managing your HOA, you can also save money in the process.
Of course, not all companies offer the best remote HOA management services. In the end, you would want to find a company that highly values the beliefs of your homeowners association. Let us shorten your search time. Give us a call to know more about our remote services!
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