Homeowners Association (HOA) and Condominium Owners Association (COA) management services to the Greater Charlotte area!This includes Rock Hill, Lake Norman, Concord, Monroe, and everything in between. Contact us today to learn more!
What is an HOA?
An HOA, or Homeowners Association, is a non-profit group organized to maintain common areas within a community, while also governing the community to ensure that members function in accordance with the Bylaws, Articles of Incorporation or CC&Rs. These groups are governed through the oversight of an elected board of directors. To live in a community that has an HOA, community members must support the association financially and agree to live by the legal documents that govern the group. Membership in a HOA is automatic when an individual purchases a home in the community.
Who Needs HOA Management?
Developers, board members and homeowners who are part of the decision-making process for a community can benefit from working with an HOA management firm. Management firms are viewed as the "back office support" of the community. Board members generally delegate most of the administrative tasks of managing the common areas and community to the HOA management firm, thus freeing them to focus on maintaining good communication with the members of the community.
How Does HOA Management Help a Community?
A full service HOA management company, like us, takes much of the responsibility of managing the HOA off of the board members' shoulders. HOA management companies do not make decisions on behalf of the board, but most tasks the board does can be given to the HOA management company. With the help of a quality homeowner’s association management firm, board members can save a substantial amount of time and money. HOA community management companies know HOA laws for their state and will be able to apply those to the community. Together, they will work with the board to make the organization and community as successful as possible.
What HOA Management Companies Can Do!
- Enforce rules for homeowners
- Enforce HOA or COA regulations
- Make arrangements for property insurance
- Collect home-owner assessments from homeowners
- Oversee upgrades and renovations as approved by the board
- Take care of emergency issues
- Coordinate contractors and trade professionals to work on the community
- Create detailed monthly accounting statements for the board
- Work with legal means to collect necessary homeowner assessments
- Report on necessary capital repairs to board