According to This Old House, about 29% of the US population was living in an HOA community as of 2021.
Managed communities have become very popular in recent years, with many US residents wanting to live in one. They offer a range of benefits that make them desirable places to live, however, they don't always operate smoothly. HOA boards often become overwhelmed with their duties and can't stay on top of everything, so they may turn to a community association management company for help.
So what are the benefits of HOA management solutions? Keep reading to find out.
Common Area Maintenance
One of the more appealing elements of HOA communities is the inclusion of common areas. Residents can typically enjoy facilities such as:
- Parks
- Gyms
- Clubhouses
- Art studios
- Swimming pools
While residents are responsible for their own properties, the HOA maintains these common areas. This can fall to an association management company.
They have plenty of experience, so they can organize maintenance and repair work with ease. Whatever work is needed, they'll likely have a suitable contractor in mind. They may also be able to save community funds due to the good relationships they tend to have with contractors.
Administration
There are a host of administrative duties that HOA boards need to perform. These include things like:
- HOA meeting organization
- Contract negotiations
- Project management
- Insurance administration
- Vendor management
These are usually simple enough but can take a lot of time. The board may then not have enough time to see to their other duties.
All of these can fall to an association manager. They'll give the board more free time, and they can usually handle these tasks more efficiently overall.
Policy Enforcement
HOA boards must establish various policies for all residents to follow. They help maintain order throughout the community and can prevent disputes and disagreements.
However, board members sometimes find it difficult to enforce these policies. They are volunteers from within the community, so they typically have relationships with other residents. It can be difficult for them to enforce rules when those breaking them could be their friends.
Association managers won't have the same kind of bias. As such, they can enforce all policies fairly, helping to keep everyone in the community happy.
Finances
One of the biggest community management benefits is their experience and expertise. When it comes to financial management, HOA board members can often be underqualified, so they may not be able to handle things properly.
Association managers have suitable training and experience, allowing them to deal with finances properly. They can collect HOA fees and organize budgets effectively, reducing the risk of mistakes and possibly even identifying areas where funds can be saved.
Working With a Community Association Management Company
A community can benefit a lot from hiring a community association management company. They can take on various duties allowing the HOA board to keep everything in the community running smoothly.
PMI Green Rock is a full-service real estate asset management company serving Seacoast and the surrounding communities. We use cutting-edge technology to provide exceptional association management services to all of our clients. Take a look at our association management page to find out more about how we can help your community.
