FAQ - Sharp HOA Management, Inc

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FAQ

Frequently asked questions about HOAs and HOA Management Companies. 

What is an HOA?

An HOA or Homeowner Association is a legal entity created to manage and maintain the common areas of a community. Typically these "common areas" consist of things like pools, clubhouses, landscaping, parks, streets and roads.
HOAs can consist of single family homes, condominiums, or town homes and are typically setup by the original developer of the community with a set of rules called "Declaration of Covenants, Conditions, and Restrictions" otherwise known as "CC&Rs".
One of the primary functions of the HOA is enforce and ensure that these "CC&Rs" are adhered to by the individual homeowners. The guiding principals of these regulations are normally to help maintain property values and the quality of life within the community.

What does a management company do?

Many HOAs contract a professional property management company, such as Sharp HOA Management, Inc. to properly and effectively utilize their expertise to handle day-to-day operations, perform ongoing maintenance duties and communicate with residents.  In addition, the property management company is responsible for executing on all Board decisions and ensuring that all homeowners comply with the CC&Rs and adhere to state condominium statutes. Other services include: Collection of assessments, supervision of subcontractors, providing financial statements and income/expense reports. 

Sometimes, however, homeowners confuse the roles and responsibilities of their HOA Board and their property management company, especially when it comes to community rule enforcement.  Despite what many homeowners think, your property management company does not set any policies or rules pertaining to your community, nor does it determine the penalties for non-compliance.  Rather, the management company‚Äôs responsibility is to enforce the community policies and regulations made by your Board of Directors on behalf of your HOA. 



 
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