Does your community have an HOA? Are you part of it?
There are over 350,000 homeowner associations (HOA) in the US. Many of these are self-managed, maintaining the property and association funds. And, sometimes that’s ok.
Homeowner associations require a lot more responsibility and time commitment than people realize. Most people running most HOA boards are volunteers.
If you are part of a community association, it may be time to consider professional homeowners’ association management. Continue reading to learn of 5 important benefits professional property management services can offer.
Benefits of a Homeowners’ Association Management Company
A good HOA management company can help with both the day-to-day and once-a-year requirements of managing a community. They can collect dues, pay bills, and maintain the property.
1. Manage Finances
Homeowners pay dues to fund the association. A property management company can collect these fees and follow up with overdue or delinquent fees from other residents.
They pay all the association’s bills and taxes on time. They build budgets to make sure members aren’t paying too much or too little for future needs.
2. Legal Expertise
The average person usually doesn’t have a legal background. A professional in property management is familiar with the laws and legal issues that can impact a community.
They keep the HOA compliant. They can help the association avoid legal problems, and refer them to proper resources and contacts should issues arise.
3. Daily Management
Having a reliable HOA management company handle the day-to-day tasks is a time saver and a source of relief for many associations. They maintain lists of service vendors for the community. They handle communications between residents and the board.
And, they act as a neutral third party when resolving issues between residents. This can help alleviate hard feelings between neighbors.
4. Source Vendors
There is a lot more involved in homeowner or condo management than just collecting the dues. At a minimum, communities expect landscaping, maintenance, and security.
A professional management company will take the time to find reliable vendors who can be trusted to do good work. They will schedule appointments for services and follow up on any issues afterward.
5. Increased Property Value
Using a professional management company is an investment in the community. They will ensure that repairs are made in a timely manner and regular maintenance tasks happen according to schedule.
A community that is properly maintained is more attractive to future buyers. Current homeowners maintain a sense of pride in ownership. Homes keep their property values and members are happy to live there.
Your Community Needs Professional Property Management
A professional homeowners’ association management is a valuable addition to any community. The expertise they offer will save your HOA board both time and money, keeping them happier. And, happy homeowners make the best neighbors.
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