HOA or Homeowners’ Association Management is a group of people or one company which controls and looks after all the rules and regulations that are to be followed by all the properties which are within the company’s jurisdiction.
What is their main aim?
Maintaining a small community is easy. If the small community has a Board of Directors which looks after its well being, then maintaining and making sure that every resident follows the rules and regulations set by the Board of Directors is easy. But this same task becomes really difficult when it involves a bigger community. Hence this is where homeowners’ association management companies like Cedar Management Group come in to help the properties which need more than just the Board of Directors to function.
Cedar Management is an accredited HOA management company, with its base in North Carolina, and its aim, just like every other HOA Management Company is to provide management services to community associations. Sometimes certain associations are very particular about the type of rules that they want their residents to follow and they are very keen about making sure that the residents do so, hence HOA Management companies are asked for assistance.
Their main duties:
• The first and foremost duty which is to be performed by the company is maintaining good communication. Without good communication from both the sides, the Board of Directors and the Company, the demand and supply will not meet each other. Hence the most important task or duty of the management company is to maintain good communication with the Directors, owners and even association members so that they can communicate what one expects from the other to the other.
• The management companies also perform a lot of fiscal duties which include producing financial statements for the association, making sure that all bills of the property or condominium are paid and there is nothing outstanding anywhere, creating a draft budget for the year, and making sure that it is maintained, and the final fiscal duty making sure that taxes are paid properly.
• Record keeping also comes under the duties of the management company. The company makes sure to maintain records of all the members of the association just in case the need for such records arises.
• Maintaining the property is another duty, and probably the most varied duty of the management company because under this the companies are required to maintain the association as well, where they take interviews and accordingly hire or fire association members, of ever required. They make negotiations to the contracts made with timely vendors who in turn help to maintain the property, for example; landscapers. And when a situation arises these companies also handle emergency situations.
Noting the above mentioned points it is not a surprise anymore that companies like Cedar Management Group are so popular and sought after by most HOA’s as they strive to provide results to their clients everyday without fail, to make sure that their clients don’t feel that the investment that they have made on these companies have gone to waste.