Running an HOA community is a full-time job. Since board members tend to have full-time jobs already, someone needs to step in to aid with day-to-day tasks.
That's where community association managers come into play. These professionals have experience with various tasks and duties that can help make a community better.
Keep reading to learn what these managers do exactly.
1. General Administration
Community association managers provide basic general administration tasks for a community. From providing customer service to maintaining records, there's nothing that an HOA manager doesn't do when it comes to administration.
HOA managers utilize customer service skills by answering phone calls and responding to emails promptly.
Not only do they answer questions about the community from outsiders, but they coordinate communications amongst HOA board members. If there are HOA disagreements, a manager will funnel communication to the HOA president.
Managers can also provide general administration by making policy recommendations and implementing procedures, such as:
- Collection of assessments
- Advertising
- Common area rules
- Amenity operations
- Deed restriction enforcement
The basic role of community association management services is to assist the board of directors with administrative tasks, among other operations. Community association managers should attend board meetings to stay up to date.
2. Maintenance of Common Areas
HOA management responsibilities also include maintaining common areas. The manager will oversee common area maintenance by:
- Completing special projects on time and on budget
- Creating an effective maintenance schedule
- Educating the board about common areas
HOA managers should know the common areas like the back of their hands. They can work with amenity service providers to ensure that common areas are well-maintained, properly insured, and safe for community members.
3. Financial Management
An HOA manager wears a lot of hats and a financial manager is one of them. Managers are responsible for understanding the community's financial position by reading and reporting statements.
Although board members often set the budget, a manager will monitor the budget and prepare for monthly expenses through forecasting. If there is a cost overrun, a manager will have recommendations to fix the problem.
Accounts payable are managed by the community association company to ensure invoices are paid correctly and on time. For example, they can step in when there is an HOA lien.
Managers also aid in the procurement of insurance and loans. A loan or contract cannot be secured without board review and approval, but the manager can assist by:
- Seeking viable insurance bids
- Preparing loan applications
- Understanding association documents
- Knowing the minimum thresholds that need to be met
- Bringing competitive information to the board
Financial management responsibilities also include preparing tax returns and other financial reports. A manager will help the board seek insight from qualified professionals, such as:
- Attorneys
- CPAs
- Reserve Specialists
- Engineers, landscape architects, etc.
When it comes to finances, an association manager should know what is ahead for the community up to 90 days in advance.
Hiring Community Association Managers
Community association managers have a lot of responsibilities that can be categorized as general administration, common area maintenance, or financial management.
Because these managers do so much, it's important to find the right professional for the job. For all things HOA, Property Management Inc. New Orleans is here for you.
Contact us today to make your community a better place.
