HOAs versus COAs – what’s the difference?

At EZR Management, we help manage both HOAs and COAs. Our goal is to be a dedicated and trusted member of these associations by helping with administrative tasks, community maintenance and helping to preserve the property’s value. Throughout the years, we’ve received questions from residents about the differences between an HOA and COA and what role property management companies play in both. We hope this blog serves as a helpful resource to answer any questions you may have.

Homeowners’ associations

A homeowners’ association, or an HOA, is a private organization that manages a community of homes. HOAs make and enforce rules, collect dues and maintain the community. The association is run by a board of directors who are elected by residents of the community. HOAs collect dues from members and use those funds for the maintenance of common areas and amenities – like pools, gyms, snow removal and security.

HOAs establish rules designed to preserve property values and maintain the overall quality of the community. These regulations may cover areas such as rental restrictions or occupancy limits per household. Residents who violate these rules may be subject to fines imposed by the HOA.

Condominium owners’ associations

Condominium owners’ associations, or COAs, are made up of condominium owners. The condo owners own their particular units and also have joint ownership in the building and grounds with other units. COA fees cover common areas and also any building repairs or required maintenance. Some COAs are able to operate without a management company but some are required to have third party management in their bylaws.

 The role of a property management company

Property management companies, such as EZR, support HOAs and COAs by handling administrative duties and overseeing maintenance projects. These companies are contracted by the board to manage responsibilities that the board members may not have the time or expertise to address themselves. While HOAs and COAs can operate independently, managing all aspects without professional assistance can be challenging.

Management companies help oversee the community’s budget by calculating and collecting membership dues. On the maintenance side, we help the communities we serve respond to and address maintenance issues. We also handle a variety of administrative tasks, such as maintaining records; communicating with homeowners and board members; managing contracts and agreements; and responding to phone calls and emails.

If you’re interested in hiring a property management company to assist with your HOA or COA, reach out to us today!