What are the primary responsibilities of an HOA management company?

Enforce Covenants, Conditions and Restrictions (CC&Rs): The HOA management company is responsible for enforcing the rules/regulations set forth in the CC&Rs and ensuring the HOA is in compliance with current Civil Code statutes to maintain the integrity of the community, limit liability/exposure, and protect property values.

Manage Finances: The HOA management company is responsible for managing the community's finances, including collecting dues, paying bills, and preparing and presenting financial reports to the Board of Directors.

Maintain Community Assets: The HOA management company is responsible for maintaining the common areas, facilities, and amenities of the community, such as gyms, swimming pools, and sidewalks.

Communicate with Residents: The HOA management company acts as a liaison between the Board of Directors and the residents, ensuring that important information is communicated effectively and timely.

Facilitate Meetings: The HOA management company may facilitate and manage regular Board of Directors and homeowner meetings, ensuring that the meeting stays on topic and decisions are properly recorded and followed through.

Provide Administrative Services: The HOA management company provides administrative services, such as record-keeping, maintaining community documents, and responding to inquiries from residents and the Board of Directors.

What qualities does an HOA (Portfolio) Manager need to possess in order to deliver top-tier performance and be effective in their role?

Strong Leadership Skills: An HOA manager needs to be able to lead the Board of Directors, community residents, and staff in a collaborative and effective manner.

Excellent Communication Skills: The HOA manager needs to be able to communicate effectively with all stakeholders, including residents, Board of Directors, vendors, and contractors.

Financial Acumen: The HOA manager should have a solid understanding of financial management and be able to create & manage budgets and monitor the HOA’s cash flow.

Problem-Solving Skills: The HOA manager should be able to identify and resolve issues and conflicts within the community, and find creative solutions to problems that arise.

Attention to Detail: The HOA manager should have a keen attention to detail and be able to proactively follow through on tasks, maintain accurate records, and ensure that community rules and regulations are enforced.

Organization Skills: The HOA manager needs to be organized and able to manage multiple tasks and priorities, ensuring that projects are completed on time and within budget.

Customer Service Orientation: The HOA manager should have a customer service orientation and be responsive and approachable to residents, Board of Directors, and vendors.

What are the primary issues that HOA communities typically face?

Financial Management: One of the most common issues faced by HOA communities is financial mismanagement, which can lead to budget shortfalls, unexpected assessments, and other financial issues.

Rule Enforcement: HOA communities may struggle with enforcing rules and regulations, which can lead to conflicts between neighbors and decreased property values.

Maintenance and Repairs: Maintaining community facilities, amenities, and common areas can be a significant challenge for HOA communities, particularly those with aging infrastructure or limited resources.

Communication: Effective communication between residents, the Board of Directors, and HOA management is essential for ensuring that community issues are addressed in a timely and effective manner.

Board Member Turnover: HOA communities may struggle with attracting and retaining Board members, which can lead to a lack of continuity in community leadership and decision-making.

Legal Issues: HOA communities may face legal challenges related to issues such as CC&R enforcement, property disputes, and liability for accidents or injuries.

Resident Involvement: Engaging residents and fostering a sense of community involvement can be a challenge for some HOA communities, particularly those with a high turnover rate or low resident participation.

How long does the transition process typically take (when an HOA transitions from one management company to another)?

‍Over the years, we’ve been able to streamline our transition process to make it smooth and stress-free for Board Members and homeowners. On average, we’re able to transition HOA’s into our company within 30-60 days from contract execution. 

How does Icon Realty Services select its vendors?

Here are some of the steps typically involved in the vendor selection process:

  1. Identify Needs: The first step is to identify the community's needs and requirements. This may involve assessing maintenance needs, identifying upcoming projects, or evaluating services required.
  2. Request for Proposals (RFP): We often issue an RFP to vendors outlining the community's needs and requirements. The RFP typically includes information on the scope of work, timelines, and evaluation criteria.
  3. Vendor Qualification: The HOA management company evaluates vendor proposals based on criteria such as experience, cost, references, insurance coverage, and legal compliance.
  4. Negotiations: Once a vendor is selected, the HOA management company negotiates a contract that outlines the scope of work, pricing, timelines, and other important terms and conditions.
  5. Monitoring: After the contract is signed, the HOA management company monitors the vendor's performance to ensure that the work is completed to the required standards and within the agreed-upon timelines.

Overall, the vendor selection process is critical to ensuring that the HOA community receives high-quality services and value for their money. A professional HOA management company can bring expertise and experience to this process, helping the Board of Directors make informed decisions and ensuring that the community's needs are met.

Can homeowners make regular assessment (HOA dues) payments online?

Yes, homeowners can make their HOA dues payments online via our online portal. They have the choice of making a one-time payment or setting up automatic recurring ACH payments each month.