Have you considered hiring HOA management companies to oversee various tasks across each of your communities? If so, that can be challenging if you're unsure of what services the best HOA company has to offer you.
Below we've taken the time to detail some of the things that an HOA company can do when they manage properties you've put them in charge of. Tapping into this resource will ensure you're taking the steps to go above and beyond to make your community the best it can be.
Get ready to watch your home value rise after you check out this list of property management company duties and responsibilities.
Handling Billing Duties
As an HOA, it's crucial you collect Austin, Texas HOA fees from your members to continue supporting them in the way that they see fit and is outlined in your guidelines. However, as more people become members of the association, keeping everything organized can be challenging.
The first duty that an HOA management company takes on when you hire them is financial. Not only are they responsible for collecting dues, but in case someone misses making the payment or owes the HOA for additional charges, they will take the next steps to bill them.
If someone is past due on their monthly payments and continues to not pay, the management company will continue to issue notices and deal with these situations in the most delicate manner.
Manage Community Vendors
Most HOAs host various events for the community to attend throughout the year. During these events, you partner with vendors to provide things like food and games.
Other vendors that your community partners with will take care of things like landscaping and general maintenance. The HOA management company you hire will take over managing the relationships you have with all vendors.
For example, they can renegotiate contracts as they come to a close. They can also schedule when the vendors will be on the grounds to do things like landscaping and notify the community of the dates and times.
When vendors need something, they will first contact the management company to rectify it before asking to speak to board members.
Handle Administrative Tasks
There are several administrative duties that need to be taken care of behind the scenes to keep your HOA running. This is another duty that will fall on the shoulders of the management company.
They can help with budget planning to ensure all funds are being used properly. They can also take over creating the agendas for each meeting and future events.
It also helps that they are able to answer the phones if necessary and respond to any voicemails or emails that have been left and sent by community members, vendors, etc.
HOA Management Companies: Managing One Texas Community at a Time
If you didn't realize the benefit in HOA management companies before, we hope you see their importance now. They can help with financial tasks.
And they can act as the point of contact for vendors in Austin. Contact PMI Heart of Texas for more useful HOA resources and benefits.