Is there a management company that manages HOAs?

Is there a management company that manages HOAs?

Rental Property Investor · Member since 2018 · 54 posts · 31 votes

I have a question to ask the forums!

So I bought a duplex January 2020 in a C neighborhood. I got it for 137K and rehabbed it to make it livable. It’s not worth about 170k. It’s a concrete block home that’s a 2/1. The surrounding homes in the neighborhood are owned by investors that rent the units out, about 12 duplexes and 10 owners. I have a section 8 tenant in one unit and a regular tenant in the other. I get about $850 per unit and I have a property manager that manages the section 8 tenant.

I was inadvertently giving the treasurers job for the HOA in that neighborhood since the lady that sold her duplex to me was this 92 y/o. So far the transition was ok, I've automated the street light payment to be taken out from our HOA bank account and writing checks to the lawn guy sine he doesn't have any virtual accounts. We don't charge people much, just a one-time payment of 0.002 x's the total of their recent value of the house a year. It's just enough to keep the front clean and streetlights on.

We have 2 people that have been refusing to pay the HOA fees that I've heard of, and I don't think there's anything we can do about it, or I don't know what we can do about it.

I was wondering if there's a way to transfer the HOA responsibilities to a company? To maintain the area/ make sure people are paying their dues, or if they have a better way of doing this.

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Property Manager · Member since 2020 · 108 posts · 68 votes
5y

@Christopher Sarmiento

Definitely transfer this responsibility to a property manager. As a fellow pm, we typically deal with the Hoa directly.

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  • Palm Bay, FL · Member since 2016 · 76 posts · 23 votes
    5y

    check with local property management companies. The ones near me in Brevard county manage HOAs also. 

  • Rental Property Investor · Member since 2018 · 54 posts · 31 votes
    5y

    @Nick Harvey That's what I was thinking, Thank you!

  • Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
    5y

    @Christopher Sarmiento ALL HOA's are managed by management companies.

  • Minneapolis, MN · Member since 2020 · 61 posts · 56 votes
    5y

    @Christopher Sarmiento

    Definitely go with a PM company if you want to hand off the responsibility for all things rent, HOA dues and paying vendors to come out and do work for your property.

    Hope this helps!

  • Property Manager · Member since 2020 · 108 posts · 68 votes
    5y

    @Christopher Sarmiento

    Definitely transfer this responsibility to a property manager. As a fellow pm, we typically deal with the Hoa directly.

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