HOA Association Management
Our HOA Association management services in Los Angeles include collection of dues, property maintenance, CC&R enforcement, document transfers, site management, financial management, and more!
Managing homeowner associations involves efficient communication, financial expertise, and people skills. There is an art to managing a community of individual property owners, that we have perfected through years of trial and error. No one community is the same, which is why we custom fit each management approach to the individual association needs. With creative thinking, education, and experience Belwood Properties increases HOA association property values through integrity-focused management practices.
HOA Board Members: Belwood Properties works closely with the elected board members and assists in the governing of CC&R’s. We council members about federal, state, and local laws, keeping the community in compliance at all times. We oversee and take notes during elections, allowing us the insight needed to understand the health and wellbeing of the board.
Dues: We facilitate and collect all dues for the association, as well as facilitate the distribution of any extraordinary cost the association shares. Statements are provided prior to the end of the month, documenting the dues owed. If there is an extraordinary shared expense, our accounting team facilities the distribution of this expense appropriately on each community members statement.
Vendors: With Belwood Properties extensive list of vendors, we are able to tackle any maintenance task that arises. All our vendors are licensed and insured, allowing us to limit liability for the community. The relationships that we have with our vendors ensures that any emergency will be handled immediately. Proactive preventative maintenance is assured by doing a thorough property inspection once a month.
Administrative: Included in our management, is attendance at board meetings with in-depth note taking, allowing us to keep proper records for the community. These records will serve as a base line for any new policies, rules, or issues. Proper records are often overlooked by companies, but serve as an important aspect to managing an HOA efficiently. Extensive management reports will be sent to all board members at the end of each month, showing the status of the association. The health of the association will affect the properties values, which is why proper reports will ensure nothing is overlooked. All association members questions will be answered immediately, as well as any maintenance request being filled within 24 hours.
Financial Management: Accounts payable, budget, bank reconciliation, monthly billing, accounts receivable, financial statements, and operating costs are all included in our financial management for HOA’s. HOA financial management is critical to maximizing community members property value. Being tactical and strategic about financial accounting is key to maintaining structure for the homeowner’s association. Having a well-maintained reserve is critical for long-term financial health, as well as updating it accordingly every 3 years. Auditing financial status for a homeowner’s association is facilitated by our bookkeeping team every 2 years. This is imperative, as it eliminates any unnecessary expenses weighing down the association. Audits will also help to refresh the reserve and bring to light any additional preventative maintenance requirements.
Community Relations: The relationship we have with each community member in an association is personal. We understand that an investment has been made by each individual and we honor it by maintaining an honest line of communication. We will never lie to community members as we believe our business success is grounded by integrity. If there are hostile community members, we approach the situation by setting boundaries and enforcing them. By no means does this eliminate our promise of an honest line of communication, but it does mean we will enforce CC&R’s and uphold the integrity of the community. Belwood Properties is always open to suggestions and feedback from communities, as it helps us alter any management styles appropriately.