HOA Management in Oakland, CA
What is HOA and Condominium Management?
Homeowners Association (HOA) management is the complex set of responsibilities and tasks associated with running a successful community association. HOA management companies have a wealth of experience and talent covering the full range of challenges that associations face. The HOA’s board of directors can rest assured that when they find themselves up against an issue, they can reach out to their management company for the guidance they need.
At the end of the day, the board of directors has a fiduciary responsibility in the overall governance of their community association. Your community’s Board of Directors is elected by the owners of the community to make business and governance decisions on their behalf.
How a Professional Management Company Can Help:
- Manage the association within budget
- Help the board to keep the residents informed and satisfied
- Provide access to pertinent community information
- Project planning and management
- Help the board effectively govern the community
- Help the board to build a strong sense of community
- Help to enforce the covenants and restrictions fairly and consistently
- Foster great vendor relationships
- Be a well-rounded resource for challenges the association may face
Services We Provide:
HOA Accounting Management
To properly oversee your community a board must be provided timely and accurate financial information. Unfortunately, many boards do not receive financial reporting in a prompt manner or can rely on the accuracy of the information.
Our Solution: We provide monthly financial reports and our client boards have the ability to view their financial information via the Board Portal. Our accounting is in-house with Financial Managers/Controllers who oversee the accurate and timely production of your community’s financial information.
Our Accounting Services Include:
- Collection and posting of assessments
- Accounts payable and receivable processing
- Manage the general ledger
- Annual budget preparation
- Forecasting and reconciliation of bank statements
- Preparation of monthly financial and year-end financial reports
- Tax and audit management
Vendors complain about timely invoice payments. Many board members hear complaints from the association vendors that they are not getting paid accurately or quickly enough and also are seeing excessive late charges.
Our Solution: We have sophisticated accounting software to ensure accuracy and timely payments to vendors. We have established a strong relationship with our vendors so they provide quality services. Our processes protect the association by requiring certificates of insurance and licensing where applicable.
Board members must have full visibility into what is happening on delinquent homeowner accounts. They should have easy access and control over referring accounts to the HOA attorney for further collection. Digital access to information relating to homeowner accounts is key to effective collection procedures.
Our Solution: Our team will help rectify delinquent accounts. Whether it’s making phone calls or referring accounts to collections, we will work with the Board to find the best remedy. The days of not knowing the status of uncollected dues are gone.
- Attend Annual and Board of Director’s Meetings
- Prepare and distribute meeting notices, agendas, ballots, and other materials
- Assist the Association’s CPA with annual taxes, audits, compilation and reviews
- Assist the Board in adopting resolutions, developing rules, regulations and policies
- Enforce the Association governing documents
- …plus many more! Inquire today!
Saturday & Sunday: By Appointment Only
Phone: (510) 225-0470
24Hr Emergency Hotline: (510) 225-0470
Prime Property Group, Inc.
484 Lake Park Ave., Suite 280, Oakland, CA 94610