In 2020, the Maryland Legislature stepped in to require Maryland associations to have reserve studies and to fully fund reserves, but only in Prince George’s County communities. Don’t stop reading! As we write this post, legislation is pending to make that law statewide.
Whether it’s the wind that blows out a pilot light, a malfunction, or someone forgets to pay the gas or electric bill, heat can fail. When it’s your personal residence or a tenant-occupied house and the heat goes out, someone gets cold and calls the HVAC contractor. But when they’re vacant, no one knows. And it takes only a few hours of 30 degrees or lower temps to freeze the water pipes. The solution is simple.
As a board member of an HOA or condominium, you have a lot on your plate. Disputes, meetings, assessments, financials, upkeep, and more. Running a homeowners’ association is like running a business. Since most HOAs and condos are run by volunteers, the myriad tasks can become too much to handle. That is where an association manager enters the picture.
Hiring an HOA manager may sound like an amazing idea. Someone to help with HOA tasks. Where do we sign up! But, do you know what community association managers actually do? If not, keep reading.
HOA managers, like those here at Majerle Management, Inc. (MMI), work with the Board of Directors to develop a management plan that will work for you. We also offer board member classes for free. But, I’m getting ahead of myself. Here are a few of the top tasks that an HOA manager may take on.
Managing a community’s financials can be a big job. There is a lot that goes into the finances of an HOA or condominium. Some of the common financial tasks include collecting payments, creating monthly reports, approving online invoices, collections, tax support, and the creation of an online web portal for your residents, which offers them 24/7 access to their account information and the ability to make payments.
Finances can be a touchy topic. There is a lot at stake. That is why you need a financial manager that you can trust. The highly-trained HOA managers at MMI will work in tandem with our accounting team and your board to create a budget and financial plan that makes sense for your community.
Administrative and Property Management
Another huge part of an HOA manager’s job is administrative and property management. Administrative management services typically revolve around setting up and attending meetings and resolving any disputes. Again, a web portal can be constructed that will answer many of a resident’s questions and concerns.
HOA managers also can help you manage your property. For example, as a local Maryland company with more than 30 years in the business, the HOA managers at MMI have a lot of contacts with local companies and can sometimes offer discounted labor rates. Our managers also can manage document storage, after-hours emergency calls, vendors, and more.
Financial, administrative, and property management are three of the main tasks that HOA managers complete. That is not all that they can do though. Some optional services offered by MMI include:
- Capital Project Management
- Group Insurance Program
- Insurance Claims Management
- Credit Reporting
- Clubhouse Rental Management
- Covenants Enforcement
As you can see, the real answer to the question about what HOA managers do is just about “everything.” No matter what your needs, I have an HOA manager and team that will fit your community. We work with you to create a tailored HOA or condominium management plan. From robust online services to personal on-site communication, HOA managers can do it all.
Contact MMI today to learn more about what our HOA managers can do for you.
October. Crisp, cool nights are a prelude to cozy winter evenings by the fire. However, there is more to know than you might think about using a wood-burning fireplace. Put safety first!