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For instance, the HOA might decide that it wants to be responsible for specific tasks, like dues collection and bill processing via an HOA management software, while outsourcing building and facility management. Hiring a property management company doesn’t have to be an all-or-nothing engagement. Next, carefully craft a scope of work for prospective HOA property managers.
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You might discover that the HOA has been gradually taking on roles and responsibilities that are actually the obligation of the homeowners. This is also a good time to check how the governing documents specifically describe the duties of the HOA. Factors to consider when hiring HOA property managementįirst, be sure to check the HOA’s governing documents to see if there is any explicit prohibition on hiring property manager or third-party provider to carry out the duties of the HOA. lawn maintenance companies) that they couldn’t otherwise access.īased on these guidelines, if it seems like the HOA should hire a property management company, there are a few other important considerations.
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In either case, a property manager allows owners to take a hands-off approach while the property manager uses their expertise, skills, and time management to protect the owner’s investment. Some don’t have the capacity others don’t have the interest. Hiring a property manager is a no-brainer for landlords who don’t want to deal with the day-to-day responsibilities of real estate ownership.