Running an HOA is tricky without the help of community association management.
HOA residents enjoy a number of perks, from safer neighborhoods to higher property values. According to pre-pandemic studies, houses in HOAs are worth 4% more than similar homes outside HOAs. With a solid HOA board making the big decisions, you can enjoy a more relaxed life in your community.
Not all HOA boards are equipped to do the job, however. If you feel like your HOA isn't delivering on its goals, it's probably time to hire a community association manager. Today, we'll tell you 4 ways that community managers help HOAs, so keep reading and learn what these wonderful services do.
1. Accounting and Budgeting
One of the chief responsibilities of a community association manager is to look after the HOA finances. This involves collecting HOA fees, bookkeeping, creating an annual budget, and dealing with contracts with local vendors.
In addition, HOA managers handle everything related to taxes for the organization, which can be complicated. They'll work with the HOA board, giving them financial reports that they can use to adjust the budget in the future.
With organized and transparent finances, HOA leaders can make better decisions with regard to financial management.
2. Taking Care of Maintenance
Homeowners decide to become HOA residents for a variety of reasons, a top one being community amenities. An HOA manager's duties include dealing with all maintenance of the common areas in the community. This might include parks, playgrounds, sidewalks, and other recreational areas.
They'll bring long-standing connections with local vendors to schedule regular maintenance for areas that need it. HOA managers also respond to more specific maintenance requests from residents. Timely maintenance is key to homeowner happiness.
3. Resolving Disputes
When you've got dozens of homeowners co-existing in a community, you're going to end up with disputes. An HOA has certain regulations that should be followed by all members. These include things like quiet hours, parking rules, and home maintenance standards.
Disputes arise when certain HOA members ignore the rules. The HOA board and HOA managers have to deal with these disputes and enforce regulations in order to maintain peace in the community.
4. Communicating Change
An HOA isn't a static entity. There's always going to be change, whether it's new members coming in or improvements to amenities. An HOA manager will need to keep residents in the loop whenever a change occurs.
How this happens differs depending on the HOA. Some communities prefer monthly newsletters, while others opt for instant email updates. The HOA manager will work with the board to determine how news is to be communicated.
Get the Best Community Association Management in Corpus Christi
These are some of the primary duties of a community association management company. It's important to hire an HOA manager with the right experience and reputation to take your HOA to new heights.
For communities in Corpus Christi, that's going to be PMI. As a top property management company in the country, we offer a wide variety of association management services. Contact us to learn more about what we do and how we can breathe new life into your HOA.