An HOA relies on its Board to create and implement policies that benefit everyone. Who can the Board rely on when they have questions or need guidance?
A community association manager (CAM) makes life easier for HOA Board members and residents. The community association manager handles a wide range of tasks. Their expertise can help the HOA run more smoothly.
Learn more about how an association management company can support your HOA community.
Oversee Property Maintenance
One of the most visible aspects of the community association manager's job is ensuring that the property is well-maintained. Maintenance includes both the appearance and safety of the community.
An effective CAM will develop a preventive maintenance schedule. This helps avoid expensive emergencies. The CAM will negotiate service contracts for maintenance and duties like security and landscaping.
The CAM should also be prepared to hire contractors for emergencies when they occur. The best CAMs will develop a network of trusted vendors. This helps the HOA get the highest quality service for the most competitive price.
Perform General Administrative Tasks
The community association manager handles a range of administrative tasks. The CAM maintains records for the association. They ensure that operations follow board policies and applicable laws.
Administrative duties include managing contractors, vendors, and their contracts. Keeping the association current on insurance policies is another important responsibility. An HOA needs a range of insurance policies including:
- Property insurance, for communities with condos or co-ops
- Liability insurance
- Directors and officers coverage
The CAM seeks bids and brings the most competitive options to the Board.
Finally, the CAM facilitates the process for Board meetings. They compile action items and prepare meeting agendas. They coordinate communication among Board members.
Financial Management and Tax Preparation
The community association manager helps ensure proper financial management for the HOA. These functions are critical for the sustainability of the community.
The CAM needs to understand the HOA's financial position. They track the budget and predict future income and expenses. They verify invoices and ensure that they are paid correctly.
Overseeing banking and reserve accounts is another essential part of association management services.
HOAs need to file tax returns. Even if the HOA is registered as a non-profit organization, a tax return is required. The CAM ensures that the association has qualified, professional tax guidance.
Good tax advice helps the HOA avoid paying more taxes than necessary. It also helps avoid any fines or problems from the IRS.
Communication and Dispute Resolution
A community association manager must have excellent communication skills. They need to answer phone calls, emails, and other correspondence on behalf of the HOA. They should be able to explain contracts and documents to potential tenants.
The CAM needs to respond to issues in a timely manner. They should be prepared to mediate conflicts between residents. They need a thorough knowledge of the association's CC&Rs.
One of the most delicate tasks the CAM handles is collecting delinquent payments. The CAM will implement and manage a collection policy. The policy should be effective while following the HOA's documents.
Find the Right Association Management Company
A community association manager can make life in your community easier. A CAM will handle a range of responsibilities. They will manage tasks from administrative duties to communication with residents.
Finding the right association management company will help you get the most benefit from these services. In the Austin area, you can trust PMI Austin Metro.
PMI Austin Metro customizes our services to meet the needs of your community. We're dedicated to adding value back to your community and the residents who make their homes there. Our full-service capabilities ensure you get the services you need.
Contact PMI Austin Metro today to schedule a consultation. Let us help you make your community an even better place to live.