![]() ![]() Use your property manager to help keep your tenants within the rules. While your tenants are acting in violation, as the property owner, you’re responsible for making sure they follow the rules. If your property or your tenants fail to comply with the HOA rules, some HOAs can legally apply a lien on your property and assess fines to you as the property owner. HOAs are Rule Enforcersĭepending on your type of HOA, they can enforce rules that your property manager can’t enforce. Your property management company must also work with your tenants to make sure they live in your property within the provisions of the HOA. Your property manager is your “in the field” representative to make sure your property stays within the rules. Make sure you and your property manager understand all of the rules to stay in good standing with the HOA. When purchasing a rental property in a community with an HOA, be sure you check into the requirements. These rules can include a variety of things, from aesthetics to how to behave as part of the community. What is an HOA? A homeowners association helps enforce community rules for a neighborhood or a group of homes. Let’s take a look at the seven key differences between a homeowners association (HOA) and a property manager. When your property is in an area also governed by an HOA, it’s critical to make sure your property manager understands the HOA rules and how to comply.Ī homeowners association can’t take the place of your property manager. Using a property manager to make the most of your rental property is an excellent way to go. ![]() But without a good understanding of the role of an HOA versus a property manager, it’s easy to get confused about what they do or how they work together. The two entities are very different things. Your rental property could have both an HOA and a property management company. ![]()
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