As of 2023, 29% of the U.S. population lives under an HOA. While homeowner associations provide a lot of different benefits to communities, there's no denying they have a lot to deal with on their plate.
Sadly, many HOA boards are simply spread too thin with all the things they need to address. So what's the solution to this problem? The answer lies in an HOA management company.
However, many HOA boards in Jessup, MD are often confused by what type of services these companies can and can't offer. Luckily, we made this guide so you can learn what the average HOA management company can bring to the table for your association.
Services You Can Expect From an HOA Management Company
It's important to note that HOA management companies are flexible. Ultimately, a good company will take on any of the tasks that you're too busy to handle.
That being said, there are some common services that management companies typically help out with. For example, here at PMI Village Alliance, our HOA management service includes:
- Accounting
- Reporting
- Vendor coordination
- Compliance and inspection
- Maintenance
- Inspections
- Bill and fee collection
- HOA management company costs
Some boards want their HOA management to also handle disputes that might arise between homeowners in the community. While this is fine, the management company must remain an objective third party that simply enforces the rules and charter of the HOA.
Why Should You Consider HOA Management?
HOAs can be a huge benefit to communities. One study found that homes with HOA had prices that were 4% higher than similar houses without one. This statistic shows that people value the organization and structure that an HOA brings to the community.
However, if an HOA is being run efficiently, it can have the opposite effect, scaring homeowners away. HOA management ensures that the daily duties associated with your association are handled quickly and effectively.
That way, you can focus on larger projects that bring even more value to your community. In this way, the HOA management company costs are more than worth it.
Responsibilities That Should Remain With the HOA Board
Some board responsibilities should remain outside of the realm of an HOA management company. Most importantly, an HOA management company shouldn't be allowed to change any of the rules or guidelines within a community.
This should be decided by the board and homeowners. Things like setting up an annual budget, approving expenses, and keeping a reserve fund should all be handled by the board too. There will always be some gray areas when it comes to who is responsible for what.
That's why it's important to establish expectations between an HOA board vs. management company at the start of the professional relationship.
Ready for the HOA Management You Deserve in Jessup, MD? Contact Us Today
We hope this guide helped you learn more about the different services that an HOA management company can provide you. As you can see, HOA management companies aren't designed to replace HOA boards.
At PMI Village Alliance, we bring decades of experience to help your association run more smoothly. With your HOA company responsibilities covered, you can focus on the big-picture stuff that matters. If you're ready for the HOA help you deserve, contact us today.
