Why Hire a Property Management Company for Homeowners Associations
Residents of townhouses, condos, and homes in gated communities or subdivisions owe a monthly or yearly fee to their homeowner association (HOA). This fee covers the cost of routine building maintenance, landscape care in common areas, pool maintenance, and other tasks that keep the community's curb appeal and functionality high.
Most times, neighborhood residents are elected or volunteer to serve on the HOA Board of Directors. Smaller associations can often carry out duties on their own, but larger HOAs can be harder to manage without extra help. That's where property management comes in.
If you find it difficult to staying on top of your HOA's responsibilities, you don't have to struggle with them alone. Whether you lack the time or interest to run your HOA, hiring a property management company allows you to sit back and let the property manager take care of the nitty-gritty details on your behalf.
Benefits of Hiring a Property Management Company for HOAs
Not sure if turning to a property management company for help is the right option? Just consider everything a property manager can do for your HOA:
- Cost-effectively handle day-to-day tasks: This includes tackling administrative and financial responsibilities such as collecting dues and paying invoices, as well as maintaining detailed records of all transactions for auditing purposes.
- Advise HOA Board members: Even with a property management company's help, your HOA will probably still have a Board of Directors. The property manager can contribute to important decision making, suggest ways to enforce rules and policies, assist in developing an annual budget, and ensure the HOA operates as governing documents require.
- Effectively communicate with community residents: Get help from your property manager to convey rules, covenants, restrictions, and guidelines to the community. A monthly report keeps everyone in the know and makes written information available if any homeowner requests it. Finally, receive suggestions from your property manager for resolving resident complaints as they arise.
- Manage vendors: Some vendors are community regulars, including those that perform routine building and landscape maintenance and trash services. Others submit bids for occasional repair projects, which your property manager solicits and helps you select.
- Visit the community: Your property manager often delegates tasks to vendors or advisors your Board of Directors over the phone, but visits in person allow your manager to review property conditions and attend Board meetings.
Why Choose Tidewater Property Management?
It's important to understand that not all property management companies in Maryland, DC & Virginia are created equal. Indeed, choosing a reputable company to manage the needs of your HOA could mean the difference between success and failure for a particular community.
At Tidewater Property Management, we offer a high return on investment for HOAs by providing all of the above services and more at a cost-effective rate. We're always available to answer your questions accurately and provide advice for handling unique situations as they arise.
For the past 25 years, we've been mastering the ins and outs of property management. Today, we're industry experts! After all this time, we've remained a family-owned company that always puts our customers' needs first. Our long history and exceptional customer satisfaction rates speak for themselves.
Property Management in Maryland, DC & Virginia
If you don't want to be involved in the day-to-day operations of running an HOA, let Tidewater Property Management take the burden off your shoulders. We can tackle the details so you can go back to enjoying your community to the fullest.
To learn more about Tidewater, or to request our property management services, please call us at 800-640-2281 today!