Differences Between Homeowners Associations and Property Managers
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The roles of homeowners associations (HOAs) and property managers are easy to confuse. Although they are both involved in property management, their functions differ from each other.
RPA Summer 2020
HOAs and Association Managers
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Homeowner's Associations To establish a difference between homeowners associations (HOA) and property managers, we need to define each one. Let’s start with the first one: an HOA is an organization planned by members of a community or condominium whose goal is setting and enforcing specific rules to govern the community life. According to some estimates, 70 million Americans reside in 348,000 association-governed communities approximately.
Common Interests in HOAs
In summary, these organizations are necessary when a group of homeowners shares common areas and architectonical specifications that affect property value.
Members of HOAs
It is important to stress that when a person purchases a house within an HOA’s jurisdiction, they automatically become a member, and this requires the payment of fees. Also, HOAs set regulations and guidelines for their communities trough governing documents. Likewise, apart from making and enforcing rules, HOAs are in charge of maintaining common areas (parking lots, swimming pools, party rooms, and security). In the same way, these associations collect dues to maintain the common spaces of the overall community and set the budgets for these requirements.
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Property Managers WHILE HOAS CARRY OUT THE VISION AND MISSION OF THE COMMUNITY, PROPERTY MANAGEMENT COMPANIES ACT AS BRANCHES; THIS MEANS THAT HOAS HIRE THE SERVICES OF EXPERTS ON HOA PROPERTY MANAGEMENT IN RALEIGH NC TO OVERSEE THE DAILY TASKS OF THE ASSOCIATION’S BOARD MEMBERS. THE RESPONSIBILITIES OF ASSOCIATION OR PROPERTY MANAGERS DEPEND ON THE HOAS REQUIREMENTS, AND THEY OFTEN INVOLVE THE HIRING AND SUPERVISION OF CONTRACTORS, COMMUNICATIONS, THE COLLECTING OF FEES, PROCESSING OF DOCUMENTATION, AND OTHER ADMINISTRATIVE TASKS.
RPA Summer 2020
HOA management in Raleigh NC Finally, although professionals on HOA management in Raleigh NC can be a valuable resource to any homeowner’s association, their functions should never collide with the board’s responsibilities because HOAs are self-governed organizations based on democratic principles.
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