There are a lot of benefits to living in an HOA community, which is why more than a quarter of US citizens currently reside in one.
Homeowners' associations work to make their communities better places for all residents to live, though their work isn't always easy. They have a lot of duties and often struggle to keep up with everything. HOA management services can help here by providing expert assistance to the HOA board.
So what exactly does an HOA management company do? Let's take a look.
Maintenance Coordination
Residents within an HOA community are responsible for looking after and maintaining their own properties. However, the HOA board should oversee the maintenance of all common areas. These typically include things like pools, parks, gyms, art studios, and more.
A community management company can take on this responsibility, organizing maintenance and repair work whenever it's needed. They maintain networks of contractors and may be able to get better prices due to these connections. This improves the overall desirability of the neighborhood, which helps support home value throughout.
Financial Management
Finances within an HOA community can get very complicated. While an HOA board may oversee these, they often lack the relevant experience and may not be able to handle things efficiently.
An association manager will have suitable training and experience, making them more than capable of taking on this responsibility. They can organize budgets, collect HOA fees, and more. They'll help ensure community funds are spent in suitable ways and will look for solutions that help keep things cost-efficient.
Administrative Duties
There are plenty of administrative duties an HOA board will typically handle. These duties are rarely difficult, but they can be very time-consuming. The main issue here is the board may spend too much time on these and won't be able to handle their other responsibilities.
An HOA management company can take on these responsibilities instead. By handling administrative duties, the HOA board will have more free time to spend on other crucial tasks.
Policy Enforcement
HOA boards set policies for the residents in their community. While they're often quite generic and easy to establish, enforcing them may not be so.
HOA board members are volunteers from within the community, so they usually know other residents personally. This means they have relationships, and these can get in the way when it comes to enforcing HOA rules.
An association manager doesn't have the same kind of relationships with tenants. This means they can enforce policies without bias, ensuring everyone is treated fairly and equally.
Professional HOA Management Services
HOA management services can take on various duties, providing crucial HOA support. They have the knowledge and experience to handle difficult tasks, taking a lot of strain off of the HOA board.
PMI ConnV offers professional HOA management services throughout Hartford and the surrounding communities. We're part of the fastest-growing property management company in the US and use state-of-the-art technology to deliver exceptional service. Take a look at our association management page to learn more about how we can help your community.
