We all have houses, and I am pretty sure we have neighbors; this cluster of houses may lead to certain responsibilities arising. As a result, the home owner’s association or HOA and property management is formed to enforce rules around neighborhoods and ensure the rules are followed to the latter. For any individual to belong to the homeowner’s association, you must own a property within the area in question. All the home owner’s association members have the right to not only propose but also vote on the rules; however, only the selected board of members have the final say in the matter. If you are into property or real estate investments, it is wise to include or try to understand the whole concept better.
Roles of HOA and Property Management
Maintaining or building common areas like swimming pools and playgrounds.
Setting budgets or collecting dues to pay for the replacement, maintenance and construction of common areas.
Hiring contractors and staffs
Conclusion
Like any other management body, HOA does not physically perform all of their roles. For instance, they may hire secretaries, maintenance crews and security people to ensure all the replacement and construction of your real estate or property is done on time.
