Your homeowners association (HOA) has many responsibilities. Sometimes, the HOA directors will hire property managers to take care of day-to-day operations - or even broader HOA responsibilities. When a property management company is hired, the HOA is ultimately responsible for oversight.
Choose a Licensed Company
If your state licenses property managers, full licensure should be the first thing that an HOA board looks for when evaluating different property management companies. Usually, one person will serve as the manager and make all decisions. The HOA should also find out ahead of time who the management company will appoint as manager. The board should check this person's educational background and years of property management experience.
Responsibilities of the HOA Property Manager
Property managers provide a long list of services to residential communities. These include maintaining all common-use structures on the property, landscaping the grounds, coordinating trash removal, checking safety equipment (such as fire and carbon dioxide detectors), scheduling homeowner meetings, providing security, and keeping all financial books and records current.
Homeowners Pay All Property Management Fees
Homeowners in a covenant-controlled community pay the property management company for its services through monthly fees and assessments. When these services aren't being provided, homeowners have the legal right to challenge their HOA. They may also question that amount that is being spent on a property management company.
A Real Estate Lawyer Can Help
The law surrounding an HOA contract with a property management company is complicated. Plus, the facts of each case are unique. This article provides a brief, general introduction to the topic. For more detailed, specific information, please contact a real estate lawyer.