We know that a lot of HOAs need support dealing with homeowners and the day-to-day activities of their communities. At Capstone Realty, we serve as a management company to Winston-Salem HOA boards with members who are juggling the time requirements and hassles that come with volunteering their time. What you want from an HOA management company is more efficiency, better processes, and accountability.
If you’ve never considered professional Winston-Salem property management for your HOA, consider the benefits that are available.
What to Expect with Professional Homeowner Association Management
Good homeowner association management includes accounting and financial services that are detailed, accurate, and transparent. You also want a property manager who can communicate with both the board and the homeowners. You need a qualified and experienced team of professionals who can collect and account for dues, manage violations, and keep the community running according to the goals and priorities of the association.
A good HOA property manager can focus on your association and its unique needs. This could include managing board meetings, supervising vendors and maintenance staff, and welcoming new residents into the community.
Communication with Board and Homeowners
Communication is essential to the effective management of your homeowner association. Board members are also homeowners, and no one wants to collect overdue assessments or issue fines on their neighbors. A professional association management company can help provide a buffer that makes everyone’s life a little easier.
Your property management partners will take the lead on responding to calls, complaints, and questions that come in from homeowners. We’ll share information and education that keeps everyone on the same page. We’ll communicate responsibilities, regulations, and expectations.
Think of your property management company as your liaison. Our team is ready to communicate responsively and proactively with vendors, board members, homeowners, and community partners.
Reporting HOA Income and Expenses
You need a skilled and professional team of association accountants when you hire a property manager. If you feel like your board lacks the experience and the tools to effectively collect dues and assessments, charge fines and fees, and pay the bills for things like maintenance, security, and pool care, you are especially well-positioned to benefit from professional management.
Our sophisticated accounting software will provide detailed and accurate financial reporting and statements. We protect you from fraud and implement standard accounting principles that protect you and your HOA’s funds.
When it comes to accounting, an HOA property management company can:
- Collect dues and assessments
- Pay all expenses and bills approved by the board of directors
- Provide monthly financial statements with supporting bills, invoices, and documentation
- Provide an online web portal where board members can access financial data and reports
- Screen vendors and gather bids when work is needed
Technology and Best Practices for Homeowner Associations
Our online portal is easy to use, transparent, and safe. With this technology, your HOA board is in control of viewing financial information and using that data to make smart decisions.
A good property management company will document and keep track of your association’s bylaws, regulations, and other governing documents. You should always be able to see financial statements.
Association boards are busy, and that’s why professional association management is a good idea. Contact us at Capstone Realty; we’d love to hear about your community and share some insight about how we can help.