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Q.What is the purpose or role of a management company?
A.A homeowners' association (HOA) will often hire a management company to perform a variety of services for the condominium association, such as: collecting assessments, paying the HOA's bills, assisting with the budget process, preparing meeting agendas and minutes for the board of directors (Board), enforcing the Rules, finding vendors to perform services, and serving as a neutral third party to help resolve problems. Although most HOA's delegate many of their duties to condominium management companies, the Board remains ultimately responsible for fulfilling those duties if the management company fails to do so. The management company takes it direction from the Board, but may also advise and assist the Board on complying with relevant California legal requirements.
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