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A Look into HOA Management Fees

Did you know that homeowners associations commonly hire San Diego property management companies to assist and handle the responsibilities of the community?

Generally, members of an HOA board are volunteers who serve in their spare time between other home, family and work responsibilities. In fact, these volunteers sometimes have little or no experience in property management. With the help of a reputable property management company, these individuals and the HOA board as a whole, can better manage the implementation of their policies and the day-to-day management of community assets.

Some of the more common responsibilities HOA management includes:

  • Financial advising services – Assistance with simple bookkeeping and budgeting for future costs can be a big help to an HOA board when done by a professional residential management company in San Diego. They have the expertise required and many already have a contracting team in place to help in the future when repairs or maintenance to any of the properties is required.

  • Collections actions – Management companies are a great option to help the HOA board with routine or annual collections because they are seen as a neutral party. They are professionals and also do not live within the community, making the collections processes easier for all of the residents.

  • Rule enforcement – Under the guidelines the HOA has set for the community, management companies can handle issues such as towing an illegally parked vehicle or removing an item that was left on common property or in a communal area of the community.

  • Insurance matters – While not a regularly needed activity, hiring a property management company to help with insurance matters can be helpful as the process can be stressful and time consuming. Property managers are experts in this field and can provide the HOA board with peace of mind knowing future problems will be handled accordingly.

The cost of hiring a property management company will vary from one community to the next, depending on the size of the community and the amount of responsibilities that the property management company will take on. Other factors can include how active the HOA and community are, as well as the knowledge, experience and time the HOA members are willing to dedicate to the board.

Interested in learning more about HOA management fees? Contact Harland Property Management in San Diego and speak with an expert property manager and learn how we can help save you time and money.