Management companies can take a huge burden off your shoulders.
What’s the difference between HOA management and property management?
Whether it’s a household or a whole community, managing property requires a keen combination of responsibility, organization, and decision making. Hiring vendors, managing financial matters, coordinating routine and emergency maintenance, adhering to community rules…it all adds up.
And if you’re handling all of this in addition to juggling a household and career of your own, you might quickly come to the conclusion that you need some assistance.
Professional management services are an affordable way to receive quality help with these tasks, but you might quickly notice there are two different types of management: property management and HOA management.
But what is the difference between them and which is right for you?
What Is Property Management?
If you’re a landlord, you’re probably already aware of how much work goes into managing a rental property. If you find all of those moving parts to be a little overwhelming, a property management company can take the burden off your shoulders.
A good residential property manager can handle anything your rental might need, such as:
- Listing your property;
- Screening potential tenants;
- Drawing up a lease;
- Regular and emergency maintenance;
- Rent collection and bookkeeping;
- Legal matters;
- And more.
On your own, it’s quite difficult to take care of these things in addition to your own home, but a property management company makes it easy.
What is HOA Management?
While property management concerns itself with a single home, HOA management overlooks an entire community. Homeowners associations don’t run automatically—a lot of work goes into making sure that the community is well maintained and the residents are cared for.
So, what type of services does an HOA manager provide?
- Running HOA meetings
- Enforcing rules
- Maintenance for common areas (e.g. landscaping, pool, clubhouse, basketball courts, etc.)
- Collecting dues and bookkeeping
Essentially, an HOA (or condominium association) is the board of directors for your neighborhood. Few people know exactly how to run a homeowner’s association without prior experience. A professional management company can provide the guidance and expertise needed to make it all work.
What’s the Difference?
One of the most common questions is, “What are the differences between HOA management and property management?” Though they may seem similar, there are some distinct differences to keep in mind.
Property management companies are hired by landlords who want a passive source of income while still providing their tenants with quality service. HOA management companies are hired by the HOA board; individual residents of the community would not have a say in which management company to work with.
HOA management also oversees the community as a whole. Other than to enforce rules, they don’t concern themselves with the workings of any individual residence. Managing the ins and outs of a single house or condo is the job of a property manager.
Trust the Experts
There will be very few occasions when you need the services of both an HOA and property manager, so why would you want to look for a management company that offers both services?
Finding the right professional for the job often means seeking out someone who is overqualified for your needs. When looking for a doctor, most people would prefer someone who has spent many hours in the surgical ward, even if they don’t need surgery themselves.
A company who has managed both individual properties and communities has double the amount of experience as a company that specializes in only one. As a result, they are doubly qualified to handle anything that comes their way.
And, in the event that you do need the services of both, you already have a reliable company at the ready.
Your Property Management Experts
Since 2003, American Home Team Realty has been providing a full range of quality management services to the landlords and communities that are frequently overlooked due to their size.
Whether you’re a landlord looking to ease the stress of owning a rental property or an HOA board looking for guidance, we have the knowledge, experience, and customer service that will make the entire endeavor worthwhile.
Ready to learn more? Contact us today to see how we can help!