More than a quarter of US residents currently live in a managed community, and that will likely increase in the future.
Home owners associations take on a range of duties to improve the quality of life within their communities. This makes things better for residents and makes the area more desirable to buyers. Sometimes, however, their responsibilities can become too much.
If an HOA becomes overwhelmed, they can turn to a home owners association manager for help. HOA managers can bring their experience and expert HOA insights to the table to support HOA communities and help them thrive.
So what exactly do HOA managers do that's so beneficial? Let's take a look.
Common Area Maintenance
Managed communities typically have a range of common areas. These include things like clubhouses, gyms, parks, pools, and more. All of these are free for residents to use, but they can be exposed to a lot of wear and tear.
HOA management strategies involve organizing and overseeing the maintenance of these areas. HOA management companies often have extensive networks of contractors and vendors they can call on when needed. This means your HOA manager will be able to find a suitable contractor for any repair or maintenance work that's needed.
They'll be able to organize things with a reliable company. Additionally, as they often have good relationships with such companies, they can sometimes get better processes for their services.
Administrative Duties
An HOA board has a range of administrative duties, and while these often aren't too difficult to deal with, they can be very time-consuming. If an HOA board is stuck on these tasks, they might not have enough time to handle everything else.
An HOA management company can take responsibility here. By taking on any administrative tasks, the board can focus more on the community. HOA managers also have plenty of relevant experience, so they can usually handle administrative tasks more efficiently.
Finances and Accounting
One of the key elements of success in HOA management is ensuring finances are handled properly. This can often be challenging for the board, as there aren't usually any members who have relevant experience.
HOA managers, on the other hand, have the training needed to deal with finances properly. They can collect HOA fees and oversee budgeting and spending. In doing so, they'll ensure community funds are used effectively and money isn't wasted unnecessarily.
Policy Enforcement
The HOA board will set certain policies for all residents and these are in place to keep things fair and peaceful. Due to personal relationships, however, HOA boards can sometimes have a hard time enforcing these rules.
HOA managers don't have this bias, so they can enforce policies effectively. This results in effective HOA leadership and fair treatment for all residents.
Working With a Home Owners Association Manager
A home owners association manager can take on various tasks to lighten the load for your HOA board and help your community thrive. PMI Silicon Hills provides professional real estate management services throughout Austin and the surrounding communities.
We take a personalized approach to create a strategy that's perfect for the needs of your community. Take a look at our association management page for more information on what we can do for your HOA community.
