Nearly 74 million Americans live in community associations in 2023.
When it comes to HOA management, it can be difficult for board members to deliver for the rest of the HOA. In these scenarios, it's often best to hire a property manager to handle HOA community duties.
Today, we'll tell you 4 ways that homeowners association management can help your HOA thrive. With the right knowledge and experience, an HOA manager can make your community a better place to live. Keep reading to learn more about what they do.
1. Better Financial Management
Where do your HOA dues go?
If you've been asking yourself this question, it's time something changed in your HOA management. Hiring a property manager to collect fees, perform accounting duties, and be more transparent with where the money is going will make everyone a bit happier.
You should never question why you're paying your HOA fees. Your property manager will ensure that fees are used in a way that benefits the entire community. They'll also be able to account for where all of the fees go, limiting fee increases and telling you why they happen when they do.
2. Regulation Enforcement
One of the challenging parts of living in an HOA community association is having some homeowners ignore regulations. Every HOA has to deal with this problem, but not every homeowners association is equipped with a solution. It can be incredibly uncomfortable for HOA board members to enforce these rules upon their neighbors.
An HOA management company won't be afraid to enforce regulations and issue penalties when regulations are ignored. Whether it's a noise complaint or a parking violation, each member of the HOA will be held accountable for their actions.
3. Proper Maintenance
One of the things you expect when you buy a home in an HOA is that the common areas will be well-maintained. This is, after all, one of the things that your HOA fees pay for. If common areas look disheveled, it's cause to look for better HOA community management.
A locally-based property manager will bring strong vendor relationships to the table. Not only will different vendors help to maintain common areas, like parks, sidewalks, and recreational areas, but they'll also respond to individual maintenance requests from homeowners.
4. Higher Property Values
When you have a well-run homeowners association, you'll start to see property values go up. Buyers want to invest in desirable areas, and when they do, the resale value of everyone else's homes will rise.
It starts with quality maintenance, but it also involves new developments in the community. The more that goes into the community, the better it is for each member and their property value.
Get the Best Community Association Management
These are 4 of the many ways that community association management can improve your HOA. Look for a company with a great local reputation that offers all of the services that your HOA needs.
For communities in Savannah, PMI is your best option for HOA and vacation rental management. Contact us to find out more about our services and how we can help improve your community.
