Over a million Maryland residents live in homeowners associations, but a large percentage of these people are happy with their communities.
An HOA should provide its residents with safety, comfort, and a forward-thinking attitude. If yours isn't giving you what you need, you have to assess your community's leadership. An HOA board is made up of volunteer homeowners, not experienced real estate professionals.
Community association management companies can turn a poorly run community into a thriving one. With the help of a dedicated professional, you can maximize every aspect of the community. Keep reading and learn more about what these community management services do and how they can help your HOA thrive in 2024.
Financial Management
All HOA homeowners must pay their monthly dues to cover the cost of things like maintenance, repairs, and new amenities. If your HOA leadership doesn't have experience with money management, the money coming in might not be enough. As a result, they'll have to raise HOA fee amounts to compensate for their poor accounting.
An HOA manager gives your community access to experienced accountants. They'll collect fees, take care of bookkeeping, and budget smartly to create a brighter financial future for your HOA.
Governance and Compliance
For an HOA to be successful, it needs to have firm governing documents. These outline the rules and regulations that all homeowners must live by. If they break the rules, they must be subject to penalties.
Many HOAs run into problems with compliance because board members have trouble handing out penalties to fellow homeowners. If they don't, however, bad actors will go unpunished. When they do, it sends a message to the greater community that the rules don't matter.
HOA management companies have a thorough understanding of HOA laws and how to properly govern communities. With their help, you'll never have issues with compliance again.
Vendor Coordination
HOA maintenance is essential for many reasons. Among the most important are the comfort of homeowners and interest from outside investors. When you have real estate investors showing interest in your community, property values will rise.
Some HOAs have homes as much as 4% higher than similar non-HOA homes. Great associations will help generate wealth for its residents, but it requires upkeep.
That's where vendor coordination comes in. HOA managers bring existing vendor relationships to your community. Whether it's weekly garbage retrieval or seasonal landscaping in common spaces, your HOA manager will have the right vendor scheduled at all times.
Finding the Best Community Association Management Companies
The best community association management companies can transform your HOA. If you don't believe in your leadership, it's better to make the change sooner than later. When you do, you'll see HOA community development you never thought was possible.
For those in Jessup, the best answer to your HOA woes is PMI Village Alliance. We're a comprehensive HOA management service and part of the country's top property management group. Contact us today to learn more about our services and how they can help your HOA thrive like never before.
