Association Billings in MD & VA
As a homeowners association (HOA) or condo owners association (COA) Board Member, you have many responsibilities. One of the most important of these is how to optimize your HOA’s incoming and outgoing funds. With association billing services from Tidewater Property Management, this process can become completely effortless. To set up association billings and other HOA financial services, please call Tidewater Property Management at (443) 548-0191(443) 548-0191. We offer these and other related community association services to our customers in Maryland.
Community Association Collections
With help from Tidewater Property Management, you can easily bill the homeowners or condo owners in your community for the services your HOA or COA provides. Keeping track of these collections is vital to the success and efficient operation of your community association. Here are the collections we can assist with.
HOA & COA fees
You may charge your residents a monthly or annual fee to help keep the common areas maintained and beautiful. After all, when multiple individuals, couples, and families share the same buildings, streets, and walkways, everyone is equally responsible for looking after these areas. The average HOA and COA fees cover various maintenance tasks and amenities, such as:
- Swimming pool and clubhouse maintenance
- Parking garage maintenance
- Fitness room upkeep
- Snow removal from sidewalks and driveways
- Security gate personnel
- Roofing and exterior building maintenance
You may include some utility costs in your HOA or COA fees. The most common of these include water, sewer, and trash collection. You may also choose to cover other utilities as part of the package. In addition to facilitating these collections, we can offer advice for cutting back on services your residents don’t fully utilize. For example, if a handful of homes feature propane-powered fireplaces, but everyone else pays for their own natural gas, it doesn’t make sense for your community association to foot the bill when the time comes to refill the community propane tank. In this example, the HOA should approach the small group of affected homeowners and tell them they will need to start paying their share or give up access by capping off the fuel line. It’s this type of alert thinking that can save your association money.
Community Association Bills
Using the money you collect from the residents belonging to your HOA or COA, you pay the parties that provide services to your community. These include:
If your association fees cover the cost of any utilities, you collect a set amount each month, but you may have variable bills to pay. Tidewater can keep an eye on your utility costs and recommend increasing the fees you charge if your bills are consistently higher than your collections.
Vendor & Contractor Payments
It’s wonderful if you can offer extra amenities to your residents, such as snow removal services and community swimming pool maintenance. Of course, your collections must go toward paying the vendors and contractors who perform these duties. We’ll help you keep your invoices straight and ensure you are never overbilled for the services you receive.
Arrange Association Billing Services in Maryland
You have enough to worry about when running an HOA or COA without fretting over bill collections and payments. Let us help you keep track of everything with our association billing services. Not only do we help free up your time by taking on these responsibilities, but we can also help you maximize your association’s efficiency by keeping operating costs and HOA fees balanced. To benefit from our comprehensive community association management services, please contact Tidewater today!