Managing and running a homeowner’s association successfully is a gargantuan task. HOAs are typically managed by a board of directors and volunteers, who are residents of the community. An unexpected increase in expenses can raise eyebrows, while directors often have a hard time dealing with delays in collections and handling complaints. That’s exactly when an HOA management company can help. As the name suggests, these are professional companies that handle the work of homeowner’s associations. Here’s what to expect when hiring one of Phoenix HOA management companies.
Table of Contents
Basic Services
HOA management companies usually customize their services for the needs of each association. In Phoenix and the rest of Arizona, hundreds of homeowners’ associations are managed by these services, based on specific requirements. Some of the basic services include personal community manager, CC&R Enforcement, management of vendors and contractors, and legal review. Maintenance & upkeep of the community is one of their main agendas, so everything, right from common area monitoring to 24/7 emergency assistance, is included.
Accounting and Bookkeeping Services
Accounting services provided include assigning a dedicated community accountant, handling all accounts receivables and payables, offering access to accounting reports, and payment of bills online. HOA management companies also handle FDIC Insured Funds for respective associations. Once the company takes over, they will also take care of in-house collections, for which a dedicated manager may be assigned. Other financial services include management of claims.
Why Consider Outsourcing HOA Management?
HOA management is a specialized job, which requires experience and expertise. Top companies in Phoenix don’t merely manage these homeowner’s association, but also help with a bunch of other things. HOA management companies can offer recommendations for legal counsel, if the association gets into trouble with neighbors and authorities. The profile of these agencies & companies makes them worth the money spent. It also leaves enough time for board of directors to focus on other aspects of community management, without worrying about the day-to-day management of the association.
Finding the Right HOA Management Company in Phoenix
It’s important to consider the work portfolio of HOA management companies before choosing one. If the company has been around for years, they must have a strong clientele and must offer references on request. It is also important to check how they plan to use their expertise and align the same with needs of the association. The cost is definitely a factor, but for effective HOA management, paying a tad more is never a bad idea.
