What an Association Management Company Can Do for HOA/COAs
It can be a lot of work to run a homeowner association (HOA) or condominium association (COA). A successful HOA/COA requires hard work and can be a significant time commitment. From communicating with residents and enforcing rules, to maintaining the grounds and coordinating repairs, association management comes with many challenging duties.
That’s why many HOA/COAs benefit from hiring an association management company. An association property manager helps clients with many different aspects of their business. Managers often handle accounting, communications, upkeep, and more. A platform like CINC Systems can help association property managers transform their clients’ HOA/COAs into thriving communities.
If you’re wondering what your association management company can do for its HOA/COA clients, here are some of the daily tasks and big picture projects managers handle.
HOA/COA Maintenance and Upkeep
Homeowner associations and condominium associations can require a considerable amount of physical maintenance and upkeep. This may include landscaping, painting, waste disposal, septic/plumbing maintenance, electrical work, roofing, and other repairs. For large HOA/COAs, maintenance and upkeep alone can feel like a full-time job.
Luckily, an association management company can take over these duties for the association. Association managers can hire contractors and other service professionals, schedule repairs, and pay invoices once the work is complete. They can also be on-site during maintenance and upkeep to ensure that work is being done to the association’s satisfaction. If there are any issues with a contract job or additional repairs are needed, the association property manager can follow up.
Day-to-Day Accounting Duties
Associations often require a lot of financial management. This includes paying bills, general ledger accounting, balancing budgets, and more. With the association accounting features provided by CINC Systems, HOA/COA managers can streamline all these tasks for their clients’ associations. This saves time, reduces paperwork, and ensures the association’s long-term financial health.
Additionally, HOA/COA managers can use CINC Systems to monitor their clients’ finances. With automatic bank integration, managers can link an association’s financial accounts to CINC Systems and check them in one convenient dashboard, instead of having to access multiple websites. Accounts are then updated in real-time, allowing association property managers to monitor financial transactions as they occur.
Association managers can also use accounting software to generate financial reports for their clients’ board members. This is very helpful for meetings and annual audits.
Collecting Resident Fees
Resident fees help HOA/COAs pay for maintenance, shared amenities, landscaping, and other operations. Whether paid monthly, quarterly or annually, collecting resident fees is a very important part of running an association. It can also be one of the most difficult, time-consuming tasks, which is another reason why HOA/COAs benefit from hiring a property manager.
An association property manager can collect resident fees for the association and even create web portals, allowing residents to pay online via credit card or e-check. With a CINC Systems payment portal, residents can pay all their association fees online. Fees will be automatically deposited, saving time by eliminating trips to the bank. Payment portals also make it easier for association managers to track which residents have paid on time and which ones are delinquent.
Manage Common Areas
Association managers help their clients manage common areas such as gyms, courtyards, swimming pools, tennis courts, multipurpose rooms, and laundry facilities. Managers can perform regular inspections of these areas and arrange repairs or upgrades when needed.
With a tool like CINC Systems, HOA/COA managers can manage common areas online. They can use association management software to create web portals for scheduling, allowing residents to reserve spaces online. Rules, hours of operation, and announcements can also be posted on the web portal or emailed to residents.
Post and Enforce HOA/COA Rules and Regulations
A successful, thriving HOA/COA will have rules to ensure a great community for its residents. These regulations can cover a wide range of topics, including quiet hours, parking restrictions, and aesthetic rules for houses and condominiums. Association managers can work with board members and residents to craft the perfect charter for the community. They can also update the rules and regulations as the community’s needs change.
Additionally, association managers will usually be the ones to enforce these rules for their clients. As the “eyes and ears” on the ground for the HOA/COA, managers are often the first to notice violations. Residents can also report problems or complaints for the association property manager to handle.
Communicate with Residents and Board Members
Communication is important for any HOA/COA, and an association management company plays a crucial role in this. Association managers use software like CINC Systems to send email announcements and newsletters to residents, prepare reports for board members, and create call logs.
An association manager is also trained to resolve disputes among residents and respond to issues. They can help board members schedule meetings, make appointments, and run community forums for resident feedback.
Perform Regular Site Inspections
Along with physical maintenance, an HOA/COA manager can perform regular site inspections for their clients. While using mobile management software like CINC Systems, they can walk or drive to different areas within the association’s grounds. If there are areas that need repairs or maintenance, they’ll be able to quickly identify the problems and solve them.
Work with Vendors
Finally, association managers will work with vendors on behalf of their clients’ HOA/COAs. Using CINC Systems, managers can create online web portals where residents can submit work orders. When they receive a work order, managers will be able to coordinate with vendors to provide repair or upgrade services.
They can also find new vendors, negotiate service contracts, and pay invoices online on behalf of the association. This helps HOA/COAs become more organized and operate more efficiently.
CINC Systems Allows Property Management Companies To Help
With CINC Systems, an HOA/COA property management company can perform many tasks for their clients’ associations. Association management and accounting software from CINC Systems lets managers handle finances, work orders, communicate with residents, and more.
If you’re not using CINC Systems as part of your association management company, click here or call 855.943.8246 to request a free demo today. See how CINC Systems can take your association management business to the next level.
Related Frequently Asked Questions
- How Can Association Management Companies Working with HOA/COAs Benefit from Association Management Software?
- Top 10 Tips When Managing HOA Accounts
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- Is My Association Management Accounting Data Safe When Using Software Tools?