There are currently over 358,000 HOA communities across the US.
These communities are typically considered very desirable places to live. Homeowners associations work to improve the quality of life in their neighborhoods, though there are some challenges they face.
Association managers can help them overcome these challenges. They can provide association leadership strategies and reliable services to support the HOA board.
So what exactly does the role of community managers involve and how can they benefit your community? Let's take a look.
1. Common Area Maintenance
One of the most attractive aspects of HOA communities is the common areas they have. These include things like pools, parks, and gyms, and are free for all residents to use.
An association manager can organize all maintenance and repair work that's needed for these areas. This will ensure they're safe and fit for use at all times.
On top of making things better for residents, this can make an entire neighborhood more appealing. Property prices will tend to be higher in the area as a result.
2. Financial Management
There are various financial duties that fall to the HOA, and the Treasurer in particular. The problem here is that HOA boards are made up of community volunteers, and they often lack suitable experience.
A treasurer is unlikely to have the skill set to manage all finances effectively. This can result in mistakes and overspending of community funds.
An association manager can collect fees, manage accounts, and organize budgets effectively. This takes a lot of stress off of the board and helps keep things running smoothly.
3. Enforcement of Policies
One of the main benefits of association management companies is that they can keep things civilized and fair. HOAs typically have various policies that residents need to follow, and the HOA board can establish these.
In many cases, however, HOA boards can't enforce these policies effectively. They typically have good relationships with other residents, so may be biased when someone breaks the rules.
Association managers don't have this issue, so they can enforce rules as needed without any unfair treatment. This will help keep all residents happy and make things easier for the board.
4. Legal Assistance
Similarly to the financial tasks that fall to an HOA board, there can be legal tasks that they're not qualified to deal with. Unless any board members have a background in property law, they're unlikely to have the experience needed to deal with legal issues that can arise.
Association managers, on the other hand, are trained and prepared for such situations. They can offer legal guidance where needed to help ensure consistent compliance throughout the community.
Working With Professional Association Managers
Through their expert community guidance and relevant skills, association managers can help guide HOAs and their communities. This helps ensure things always run smoothly, and they can handle any issues that come up quickly and effectively.
PMI Village Alliance is a leading real estate asset management company serving Annapolis and surrounding communities. We have an experienced team of HOA/Association management professionals and operate under one of the largest property management companies in the US.
Take a look at our association management page to find out more about what we can do for your community.
