The responsibilities of HOA property management businesses revolve around the upkeep of a community’s shared amenities. Because communities of multiple-family housing units share common areas, an organization must be in place to manage them. 

These are POA (property owner’s association) and an HOA (homeowner association). Both help the community succeed by ensuring that covenants, restrictions, and rules are followed by the neighborhood’s property owners.

What is the difference between HOA and POA?

A homeowners association (HOA) is often formed after a neighborhood has been created. A property owners association (POA), on the other hand, is formed before the development of a neighborhood (to sell building lots/fill vacancies) and sometimes continues after the community has been developed.

The HOA, like the POA, is made up of community property owners or renters who elect a board of directors to handle things like homeowners’ dues and the upkeep and enhancement of common spaces. While the differences between HOAs and POAs are merely words, property managers play an altogether different function.

The terms homeowner’s association and property manager are sometimes used interchangeably, although HOA board members are not property managers. They are being watched over more than anything else. The obligation for HOA property management may eventually rest on the shoulders of the HOA board or a board member, but only for the community-common association’s spaces.

The HOA may collaborate with the property manager or community manager to ensure that the common areas are well-cared for and maintained in some situations, but neither is a substitute for the other. To better serve their community, some HOAs choose to work with property management companies.

What an HOA Management Does

Even though it is a rental property, each member of the community is accountable for their property, but the common areas or corporately held property are a different matter. Homeowners often pay dues to become members of a homeowner’s association, with the expectation that the dues will cover common amenities and renovations. If you choose to rent, you must pay the dues in addition to the monthly fee. Areas such as community clubhouses and playgrounds, as well as infrastructure, are often designated community property and are governed and managed by the HOA board.

The community is well-cared for and maintained by an HOA management organization. Furthermore, their management solutions ensure that criteria are followed to ensure that community members have a safe and comfortable living environment. HOA board members are typically residents of the community, which makes it difficult for them to encourage neighbors to make adjustments to comply with rules.

The HOA management team relieves board members of having to approach neighbors about violations, but that’s not all; daily, they also:

• Oversee and maintain the neighborhood’s common areas, such as pools, playgrounds, clubhouses, and other amenities
• Collect dues from property owners and manage past-due accounts
• Financial reporting, budgeting, and other accounting and bookkeeping services are all managed by this person
• Hire staff and service providers to look after the common areas
• Administer the HOA board if board management is required
• Manage insurance for common areas
• Handle work order requests for common area repairs and upkeep

An HOA Management Company is dedicated to ensuring that the homeowners association is successfully managed and does not violate any common interests.

What a Property Management Does

A property management business is often used to manage property that is owned by a corporation or rented or leased by a private individual. Property maintenance and repair requests are handled by a competent property management company.

Property managers are in charge of looking after the property. Responsibilities may differ. Professional property management companies can relieve real estate investors of worry by acting as their eyes and ears. They can perform routine maintenance, respond to emergency repairs, and verify that their renters’ property is well-maintained.

HOA VS Property management

These two share the same aims, but they achieve them in different ways. HOAs/POAs are associations of property owners who elect a board to oversee the community’s rules, covenants, and maintenance.

Unless employed by the HOA or POA, a property management business does not have much influence in the broader community, but they can enforce the laws of the larger community through the individual properties they manage.

An HOA Management Business can assist both the HOA and the POA, as well as the property management company, in ensuring the community’s best interests are met. A good HOA management business makes life easier for everyone.

Focus Keyword: homeowners association, property management

Keywords: homeowners association, property management

Tags: home maintenance, home management