- Property Management
Community Association Management
Sherman & Hemstreet is your local solution for HOA or Community Association Management. We have been managing Home Owners Associations longer than any other firm in the area and have a proven track record of being able to increase collections, reduce expenses, and preserve neighborhoods on a long-term basis.
Our services are tailored to fit each unique association. The goal is not to replace the board of directors but rather to guide and help them make the right choices. Services often include the following:
- Collection of dues - This is the most basic function but often the most difficult. We are the best in the area at improving collections
- Liability Reduction - Most HOA boards don’t realize the need for good insurance. Sherman & Hemstreet maintains a separate fidelity bond for every one of its associations as required by state law. With so many associations having money stolen it is important that boards protect themselves and the easiest way to do so is to hire a professional management company.
- Covenant Enforcement - We make regular site visits and enforce what the covenants say. This is tough for boards to do without help since they are having to enforce rules on their neighbors.
- Maintenance - Regular and preventative maintenance plans should be implemented and followed. HOA’s are good at the regular maintenance but often lack a clear vision for preventative and long-term maintenance.
- Administration - We typically handle maintenance of the association’s records, annual meetings preparation and execution, as well as a wide variety of administrative functions such as websites.
- Vendor Relations - Shopping vendor contracts enables the association to save money. We are experts at this and have great relationships in place to save on pool expenses, landscaping, building maintenance and much more.
- Financial - We prepare an annual budget with dues analysis to determine if an increase or decrease is needed including long-term budgeting plans for capital replacement items such as pools, roofs, roads, etc. We send out monthly and annual statements to the board of all financial transactions for the specified period. Lastly, we help with filing the annual tax returns.
- Legal - We work with the best lawyers in the area and have direct partnerships to get the HOA the best possible legal advice when needed. Often we are able to deal with issues without hiring lawyers and avoid their expensive fees. Some lawyers even manage HOA’s just so they can charge legal fees to them. We avoid these unnecessary costs and when needed work with the BEST lawyers in the area. We handle filing liens, amendments to association documents as well as covenant violations that must be escalated.