What Does Home Owners Association Management Do?
A home owners association is a legal entity formed by all the owners of a building or suburb. Living and sharing space with many people is not an easy task, as problems often arise that can be avoided. Therefore, a community must be governed by agreed rules and bylaws.
In these associations, different people are in charge of specific responsibilities. Some of them may be external to the condominium. Here we summarize the indispensable positions:
- The President. This is the legal representation of the community. He/she is in charge of calling ordinary and extraordinary meetings.
- The Vice President. Optional position. In the absence of the president, he/she will be the person in charge of replacing him/her.
- The Administrator. Handles financial, legal, and technical matters for the maintenance and management of the community.
- The Secretary. The president or administrator may take over his functions. He is in charge of issuing the certificates to the owners who want to sell their houses. He is also in charge of administering the required credentials in the minutes after the owners’ meetings.
- Board of owners. It is the most critical organ since all the owners of a community form it. Its power is to appoint a new president, approve accounts and budgets, and admit or reform the statutes.
Every property needs to be managed appropriately, whether it is an urban property or a rural property. This management belongs to the president of the community. However, it is allowed to contract a third party to carry out this management of estates. This option is the most recommended, trusting a good homeowner association management that makes the property’s administrative tasks more accessible, promotes a better coexistence, and avoids neighborhood conflicts.
A professional homeowner association management offers its services of administration and advising to real estate owners in a continuous and chronic form in exchange for remuneration, taking charge of the administration of rents, and managing communities. Among the functions of these professionals are:
- To manage the real estate of third parties with professional criteria where they watch over the house’s good regime, emphasizing its installations and routine maintenance where the services of fire protection, security systems, electricity, air conditioning, among others, are included. It must guarantee the property’s habitability for the users, looking for the suitable tenant, taking care of the corresponding contract, collecting the deposit, updating and depositing the rents, paying all the property expenses, and making complete control of the collections.
- When it comes to finding a tenant, the home owners association management will ensure that the property is habitable, finding the right tenant and taking charge of formalizing the contract, depositing the deposit, collecting and updating the rents, paying the expenses levied on the property, and controlling the collections.
- One of the homeowners association management’s main tasks is to mediate between owners and tenants and between co-owners of a community, looking for solutions to the conflicts generated in owners’ communities.
- In the matter of works, it keeps the critical information, controls the suppliers, taking charge of the collections and payments, besides keeping a proper accounting. It is also in charge of managing the insurance in case of an accident and reporting to the insurance companies.
- The home owners association management will also take care of the labor relations with the property’s employees, applying the norms of the agreement and the most favorable contractual modalities, practicing the Social Security liquidations and those that fiscally proceed.
The importance of good home owners association management lies in the fact that the manager will help in the maintenance, provide support and advice, and answer any questions that may arise. Also, he will ensure the property’s maintenance and organization, attending to the most urgent circumstances. He will defend the interests of the owners, preserve and increase the value of the property. He will look for improvements in the budget and will offer us a more human and close treatment.