Maryland HOA Management Companies: What to Expect

There's no doubt that a homeowners association has quite a bit to stay on top of with management duties. HOA board member certification for HOA, condo, co-op, etc., comes to mind as does collecting homeowner association fees, and dealing with violations, complaints, etc.

Here's a look at a few third-party requirements and options for community association management, as well as a software solution that may be even more convenient for your board members.

Essential HOA Management Services

Property Management

Property managers will have some basic tasks to handle in the context of an HOA. These will include:

1. Preparing standards and outlining best practices
2. Making provisions for emergency services
3. Provide oversight to maintenance projects
4. Ensure there is architectural and covenant compliance
5. Potentially provide temporary or permanent staffing solutions
6. Provide monitoring services, focusing on areas such as safety and cleanliness

Bear in mind that this isn't an exhaustive list, but it does shed light on some of the typical expectations that property management companies will need to satisfy.

Administrative

Any full-service management firm throughout Maryland will also need to render assistance from the administrative side of things, which will include responsibilities such as:

1. Participating when needed in settlement options such as litigation or mediation.
2. Providing liaison services for the board of directors with professionals such as attorneys, auditors, financial advisors, etc.
3. Providing maintenance of owner, resident, and association records.
4. Ensure that the rules of the HOA are followed.
5. Oversee and assist in the development of the documentation of various policies and standards

The company chosen will need to provide an exceptional service considering that it will be responding to external parties on behalf of the organization.

Financial Management

It goes without saying that the financial side of things is essential since this will control much of the smooth running of the HOA and the extent to which critical needs can be taken care of. Homeowner associations may need expertise in the following areas:

1. Using the latest software platforms
2. Monitoring accounts that may have delinquent HOA dues based on the policy the board established
3. Facilitate the creation of an annual budget
4. Provide utility consumption analysis
5. Entering into negotiations surrounding potential additional sources of income for the HOA
6. Fulfilling typical accounting functions such as cash management, accounts payable, and accounts receivable

Online Services Don't Hurt

Having a secure online platform is an excellent value-added service. While not everything can be achieved online, it helps when the management company provides some level of online interaction and reporting/display.

Maryland HOA Management Company Recommendations

Here are a few of the companies that you may want to consider in Maryland for your management needs.

HPS Management

HPS Management offers a slew of HOA, commercial, and condominium management services and it targets efficiency. The idea is to work closely with the board to establish a strategy that covers all the required bases and does away with everything that may not be necessary.

The services are far-reaching and customizable. You can get your run-of-the-mill basic accounting and collection of dues up to a full service including meeting attendance, visits, etc.

Comsource

Next on the list is Comsource, which boasts a diverse portfolio of over 20,000 HOAs, cooperatives, and condominium associations. Being around since 1971 is a testament to the extensive expertise that the business brings.

Best practices are a big part of the Comsource approach, with fine-grained services spanning online, financial, administrative, and property management elements.

Sentry Management

Sentry Management is the final recommendation for today and its approach is to provide solid operational leadership to condominium and homeowner associations through its Maryland office.

You get a full-service offering from some very highly skilled community managers who all lead teams and are supported by backup managers. There's also a dedicated team present meant to carry out the different accounting, administrative, and other functions as well as relationship management.

HOA Management Software Works Too!

It's nice to have adequate management that translates to not having to worry about meeting community homeowners association insurance requirements or ensuring that your budget is solid. Be that as it may, you may want to consider a fully functional HOA software solution such as the one DoorLoop provides. Enjoy the following:

1. Free HOA website per property or community with a free resident portal.
2. Automatic payment management to take care of dues, rent, fines, amenities, maintenance, and more.
3. Full account management including shareable AR/AP reports and integration with QuickBooks and bank accounts.
4. Unlimited management users
5. Management of architectural form (ARC) and maintenance requests
6. Communication via phone, text, email, or portal messages.

You'd be surprised to see how streamlined your management process becomes. Want to see how it works? Schedule a free demo today!