Most HOA boards in Boston communities want to provide a pleasant and supportive association for themselves and their fellow homeowners. That can get tricky and time-consuming for all-volunteer boards, which is why it’s so important to partner with a professional Boston HOA property management company.
Our team has a lot of experience working with HOAs, and we know that delegating some of the day-to-day operational logistics can be a huge win for those boards. We understand the time requirements and the legal requirements that these types of communities must manage.
Let’s take a look at why working with a management company benefits your HOA, and how you can delegate five important tasks to that management partner for a more efficient, more effective community association.
Why You Should Work with a Boston HOA Management Company
Boston property managers who specialize in HOAs can help you prioritize the needs of your community. You can expect a number of benefits, including personalized services, time management, and improved systems when it comes to communication, finances, and vendor management. Here are some advantages to consider if you’re not already working with a management partner.
Access to Customized Services Based on the Needs of Your HOA
No two HOAs are alike, and you don’t want to look for a one-size-fits-all plan for HOA management. Instead, you need a personalized plan for management and service that fits your community, your board, and your homeowners.
Perhaps there’s one area in particular that’s difficult for your HOA to manage. It could be collections and assessments or keeping track of who is up to date and who is behind. Maybe you want full-service HOA management or help with meetings. A property manager can provide specific duties and comprehensive, full-service management.
Professional Liaisons between Board, Homeowners, and Community
A lot of the HOA boards we work with ultimately decide they need professional management when they begin to feel pulled in dozens of different directions, even while they’re working on limited time and with long to-do lists. Property managers can help by working with the board and the leadership as well as the entire association and the homeowners in your community.
It’s easy for a board to quickly get overwhelmed. The conflicts and fires waiting to be put out can be numerous. An association is responsible for financial budgeting and forecasting as well as enforcing the rules and regulations of the HOA. There are disputes to be managed and fines to be collected. Board meetings have to be scheduled, attended, and documented. Keeping the entire community informed can seem impossible when everyone communicates differently and has various priorities.
A good management company will be the link between the board, the association, and the community. Your property manager will handle your owners and their tenants. You can ask your management company to enforce the regulations and hold residents accountable for violations and fines. Management companies are good at systems and processes. Things will feel less chaotic and a lot more organized and efficient.
Benefit from Professional Accounting and Financial Support
Accounting services and financial reporting are some of the most in-demand services of any HOA management company. As a board, you need a qualified and experienced team of professionals who can collect and account for dues, manage violations, and keep the community running according to the goals and priorities of the association. You need property managers who can solicit bids from vendors and contractors for work that needs to be done and make sound recommendations on how to put together an operating budget and a reserve fund.
There’s more accountability, greater support, and better resources when you’re working with a Boston HOA management company.
What You Can Delegate to a Boston HOA Management Company
We work with a number of HOA boards in the greater Boston area, and we know that time and resources are limited. If you’ve never worked in this space before, you might find yourself confused and overwhelmed by the rules, requirements, and needs of the association.
Our experience in HOA management has allowed us to identify five specific responsibilities that an HOA can delegate to a Boston community association management company. You’ll find that your HOA outcomes are more efficient and cost-effective.
1. Let Your Property Manager Handle all HOA Communication and Technology
Communication is critical whether you’re running an HOA, a property management company, or any type of business or organization. It must be valued by your HOA. Your communication should be responsive, transparent, and consistent. But how can you know what the best way to communicate to different audiences will be?
Figuring out a better communication plan is one of the main reasons most HOA boards decide they need professional management. You have dozens of competing priorities, and your time is limited. A property management company can help by working with your board leadership as well as the entire association and the homeowners in your community.
Delegate communication to your property management partners. Let them take over the communications with the board, the association, and the homeowners within your community. You can expect your property manager to handle your owners and any tenants who may be renting from owners in your HOA. A good management company can be set up to coordinate with vendors and external stakeholders. Management companies are good at systems and processes, and communication is often a specialty. Things will feel more open and less unruly.
The technology that property managers bring to the HOA is invaluable, especially when it comes to the task of communication. You can expect an online portal that’s easy to access for boards, homeowners, and the entire association. Property managers will provide a platform that’s easy to use, transparent, and safe. With this technology, your HOA board is in control of viewing financial information and using that data to make smart decisions.
Delegate your property management company to documenting and tracking your association’s bylaws, regulations, and other governing documents. You should always be able to see financial statements.
2. Property Managers Can Enforce HOA Rules and Regulations
It’s not fun to be the enforcement police in your community – the same community you live in yourself.
This is often uncomfortable for board members. You’re sending fines and violation notices to neighbors and friends.
Eliminate that discomfort by delegating the enforcement task to your property management team. Not only will this provide a buffer between you and your homeowners, it also helps you avoid liability. If your association is enforcing the rules with one homeowner but not another, you’re welcoming a lot of legal risk into your HOA. The board must enforce the rules uniformly in your homeowner association otherwise the entire organization will be vulnerable to lawsuits and legal claims.
Your community has to trust that the HOA is going to hold everyone accountable to the same standards and requirements. If your board allows rules and regulations to be broken without consequences or enforcement, you will lose your ability to maintain the trust of your homeowners. The entire community will feel like the HOA doesn’t care about the rules they’re supposed to uphold. This will strip away any authority or legitimacy of the association. Leave it to your management partners. Enforcement is likely to improve when you have property managers taking care of this responsibility.
3. Delegate HOA Accounting to Property Managers for Accuracy and Transparency
Your homeowners expect accounting and financial services that are detailed, accurate, and transparent. Keeping reliable books is one of the most essential functions of any HOA, and you can easily hand off this responsibility to your property management partner. You need a qualified and experienced team of professionals who can collect and account for dues, manage violations, and keep the community running according to the goals and priorities of the association.
Work with property managers who are willing to solicit bids from vendors and contractors for work that needs to be done and make sound recommendations on how to put together an operating budget and a reserve fund.
Look for good technology so you can review the financial statements, invoices, accounting records, and profit and loss statements at any time. These will have to be provided at tax time and presented at the HOA board’s annual meeting. You need to know they’re accurate and available.
4. Delegate Meeting Management for More Effective HOA Meetings
Board meetings can be a hassle, especially when you have limited time and agenda items. Instead of trying to organize all of this yourself, delegate meeting management to your property managers. When you’re working with experienced HOA managers, you’ll find your meetings are more organized and productive. Let your management company schedule the meetings, get the word out to homeowners, and follow up on action items and agenda issues.
5. Property Managers Have Relationships with Local Vendors and Contractors
Property managers in Boston have established relationships with local vendors and contractors. The board doesn’t need to waste its time asking for proposals from landscapers, roofers, pool cleaners, and other service providers. Hand this off to your property management team. They’ll know what to look for and how to measure cost against value and services.
Let maintaining your community be one of the things you delegate to your property management partner. You’ll notice an improved appearance, better responsiveness when it comes to making repairs and managing preventative maintenance, and lower repair costs.
These are the five best things you can hand over to your HOA property management company right now. If you don’t have an HOA property management team in place ready to take over these duties, contact us at Platinum Realty Group. We’d be happy to help.