Around a million Maryland homeowners are estimated to live in community associations, and not all of them are happy.
The quality of an HOA depends on its leadership. Most HOAs are comprised of an HOA board of directors that handles everything from HOA finances to community maintenance. If an HOA board isn't up to the task, the community will suffer.
That's where a community management company comes into play. By hiring one of these services, you can put your HOA back on its feet. Keep reading and we'll tell you 3 things you must know about hiring community management companies in Jessup.
1. They'll Improve Finances
The way that an HOA pays for things like repairs, maintenance, and landscaping is through HOA fees. These are monthly fees paid by all homeowners, which are then pooled together to make up the community's finances.
If you just have an HOA board, the treasurer will be responsible for fee collection, budgeting, and bookkeeping. Most HOA treasurers are volunteers, not professional accountants.
To get a good handle on HOA finances, your HOA manager gives your community access to a real accountant. These professionals will analyze the money coming in and going out, and then figure out ways to create more financial stability for your HOA.
The result of good accounting practices is a healthier community that has high property values and keeps HOA dues at a minimum.
2. They'll Improve Governance
Another thing that HOA managers will bring to the table is more effective governance. All community associations in Jessup (and elsewhere) are ruled by governing documents that contain the rules and regulations of the HOA.
Typical regulations include clauses about allowing pets, renting property, quiet hours, and basic home maintenance. Enforcing the rules is essential to maintaining the look and ambiance of your HOA, but it's not easy for the HOA board to do. It can create a power dynamic that many homeowners won't like.
HOA managers can act as an independent third party. This way, you won't have homeowners trying to rule over other homeowners. Association managers will issue penalties to bad actors and diffuse conflicts between homeowners to maintain a harmonious community.
3. They'll Maintain the Community
One of the perks of buying Jessup real estate in an HOA is community maintenance. You'll get to live in a well-maintained community that is safe for everyone. For this to happen, however, you need your HOA manager to coordinate vendors.
Vendor coordination involves drawing up contracts and scheduling local vendors to perform regular maintenance. Common aspects of HOA maintenance include garbage collection, snow removal, landscaping, and other tasks unique to specific communities.
An association management company will enter the picture with existing vendor relationships. Whatever your community needs, the right vendor will be one call away for your HOA manager.
Get the Top Community Management Company in Jessup
Now that you know what to expect when you hire a community management company, you can make the best decision for your HOA. When you have a great community manager on your side, your community can thrive like never before.
PMI Village Alliance is part of the top HOA management service in the country. Contact us today to learn how we can help your community in 2024.
