When it comes to managing properties and communities, the terms “HOA Managers” and “Property Managers” often get tossed around interchangeably. However, these roles are distinct, each with its own set of responsibilities and areas of expertise. This article aims to clarify these differences and help you make an informed decision when choosing between HOA managers vs property managers.
Responsibilities and Duties
HOA Managers
In a homeowners association, the HOA manager works closely with the HOA board to oversee the day-to-day operations. Their tasks include preparing budgets, collecting dues, and maintaining common areas. They also assist with dispute resolution and vendor management.
Property Managers
Property managers, on the other hand, focus on rental properties. They handle advertising, tenant screening, and maintenance requests. They also manage budgets and enforce lease terms. The difference between HOA managers and property managers lies in their responsibilities and the entities they serve.
Who Do They Serve?
HOA managers primarily focus on residential communities, which can range from condo associations to townhome associations and even senior living communities. They may also extend their services to specialized communities like country clubs or golf associations. Property managers, conversely, serve a broader clientele. They manage properties for individual owners or corporate entities. These properties can be residential, commercial, or a mix of both, such as apartment complexes, vacation homes, or commercial spaces. The difference between HOA managers and property managers becomes evident when you consider their client base: HOA managers work for collective residential entities, while property managers work for individual or corporate property owners.
Financial Aspects
Fees
The cost of hiring either an HOA manager or a property manager varies. Property managers usually charge a percentage of the monthly rent, while HOA managers charge a monthly fee per unit.
Salary
On average, HOA managers earn slightly more than property managers. However, the salary can vary depending on the location and the specific responsibilities involved.
Certification Requirements
Both roles require adequate training and, ideally, certification. For HOA managers, certifications like CMCA and AMS are common. Property managers might hold certifications from NPMA or BOMA.
Next Steps
Understanding the roles of HOA and property managers can save you time and prevent unnecessary complications. If you’re looking for professional help, consider HOA management services in Miami offered by Ardent Residential. They provide customized community portals and amenity calendars, among other services. So, whether you’re part of an HOA or own rental properties, make sure you hire the right kind of manager for your needs.
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