Condo and HOA property management

Residential communities with limited amenities may not have the option to hire a dedicated manager on site, yet need daily support from a single family home property management team that is nimble, flexible, responsive, and versatile. Our portfolio management services were designed especially for these properties.

As a board member, you can rest assured that FirstService Residential managers are knowledgeable, accessible, and committed to simplifying community life. Living in a horizontal, low, or mid-rise community offers residents convenience and ease. To many, delegating maintenance of exterior or common areas of the property saves time and money. To others, it's reassuring to count on a shared code of guidelines between neighbors.
But maintaining a thriving community means large responsibilities.

As a board member, you work to ensure the community is safe and well-maintained. Residents— your neighbors— should get the best value for the association fees. Partnering with a professional management company can help you anticipate, prioritize, and tackle decisions to avoid surprises. Most importantly, you want to enjoy living in the community you have chosen with peace of mind— a neighborhood in harmony.

We can support your community with:

• Financial solutions
• Resident services
• Vendor management
• Violations programs
• 24-hour Customer Care Center

And more.

At FirstService Residential, we have the expertise and solutions to anticipate needs and respond— no matter the property type. With our professional scale, we can make your budget go further. And our service-first philosophy means we don’t stop until what’s complicated becomes uncomplicated. To make life, simplified.
 

Helpful Articles:

1. What is an HOA? FAQs about homeowner associations
2. Duties of an HOA president: Everything you need to know
3. 12 Characteristics of a good property manager and management company
4. Hiring HOA vendors? Legal issues to consider

Contact us today to discuss how we can support your community.

What does a management company do for a condo association?

Condo association management is a vital component of the successful operation of any low or mid-rise community. A management company is typically hired by the condo association to handle the day-to-day operations of the community and ensure that everything runs smoothly.

Services may range from financial management, maintenance, and administrative support. Financial management services may include budgeting, accounting, and collecting association fees from residents. The management company may also help to develop a long-term financial plan for the community.

Overall, the role of a management company is to provide support and guidance to the condo association to ensure that the community is well-maintained, financially stable, and operating efficiently. By working with a professional management company, community associations can focus on their core responsibilities and provide a high quality of life for their residents.
 

Why should a community of single-family homes employ a property management company?

Owners of single family home communities, such as homeowners' associations (HOAs) or housing developers, often employ a single family home property management company for several reasons:

• Community Governance: Property managers help enforce the community's rules, regulations, and bylaws. They inform residents of the established guidelines, which can include architectural restrictions, maintenance standards, and noise policies. Enforcing these rules helps maintain a harmonious living environment for all residents.
• Administrative Support: Managing a community involves a lot of paperwork and administrative tasks. Property managers handle tasks such as record-keeping, maintaining resident databases, organizing meetings, and managing community correspondence. This administrative support streamlines operations and keeps the community running smoothly.
• Financial Management: Property managers handle the community's financial matters, including budgeting, collecting association fees or dues, and paying bills. They maintain accurate financial records and provide transparent financial reporting to the community's governing board or HOA members.
• Vendor Management: Single family home property management companies often have established relationships with maintenance contractors and service providers. They can secure competitive bids for services needed in the community, such as landscaping, security, and maintenance, to ensure that the best possible services are obtained at fair prices.
• Maintenance and repairs: Property managers oversee the maintenance and repairs of common areas and shared facilities within the community. They ensure that These areas should be well-maintained, safe, and attractive for residents.
• Conflict Resolution: Property managers act as intermediaries in conflict resolution among community residents. Whether it's a dispute between neighbors or concerns raised by residents, property managers aim to find fair resolutions and maintain a positive living environment.
• Community Communication: Property managers facilitate effective communication between the HOA or community governing board and residents. They keep residents informed about important community news, events, and initiatives through newsletters, emails, or community websites.
• Compliance: While property managers are well-versed in HOA laws and regulations, they work with the community’s attorney to guide the community operations to maintain compliance with local, state, and federal laws.
• Vendor Negotiations: Property managers can leverage their experience and expertise to negotiate favorable contracts with vendors, ensuring that the community receives the best value for services rendered.

It's important to note that the specific purpose and responsibilities of an HOA can vary depending on the governing documents and bylaws established by each community. Homeowner associations can play a crucial role in preserving property values, fostering a sense of community, and ensuring that residents adhere to mutually agreed-upon standards.