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The number of HOA management companies across the U.S. will increase by about 5,000 in 2023, according to the Foundation of Community Association Research.
Living under HOA managers boosts property values and gives you a nice place to live. Community association management takes care of many of the more minor details of day-to-day living.
An effective community management company collects dues, manages vendors, and works with the HOA board.
Here are five things you need to know about effective HOA management in Jefferson, GA.
1. Collecting Dues
The HOA board typically sets monthly dues, which are around $170, according to the U.S. Census Bureau.
A community association management company collects dues. Real estate management uses apps, traditional checks, and bank withdrawals to get payment.
Failing to pay monthly dues means the HOA manager must levy fines or even place a lien on the property. Real estate management could also work with the homeowner to establish a payment schedule.
2. Manage Vendors
Landscapers, pool maintenance crews, and trash removal all require a contract. Community association management works with the budget set forth by the HOA board to establish costs and duties.
When vendors fail to show or do a sloppy job, an HOA manager fields the calls and concerns of the HOA board and residents.
3. Working With the HOA Board
Running the HOA board meeting, setting up meetings, and working with HOA committees is the responsibility of the community management company.
Real estate management works with the HOA board to establish an overall budget. Also, many HOAs like to create a solid reserve fund for contingencies, upcoming capital projects, and emergencies.
Managers also oversee HOA board elections.
4. Enforcing Bylaws
Each HOA has a different set of bylaws, which can include rules and regulations about pets, parking, and loud music. You could also have rules regarding sheds, pools, clotheslines, and large parties.
People who violate the rules might face violations or fines. The community management company works with the HOA board to determine the proper sanctions against the resident.
Moreover, managers oversee the process when the HOA decides to amend or change the bylaws.
5. Providing Leadership
Leadership in an HOA means being fair and honest. You must provide transparency.
Those in leadership positions work to understand issues. It's also crucial for HOA managers to understand compliance with rules and regulations.
Listening is also crucial. For example, when someone has an issue with bylaws or concerns about illegal activity in the common areas, managers must listen to each complaint and work to develop a solution.
Five Things About Effective HOA Management
Five things about effective HOA management include collecting dues, managing vendors, and working with the HOA board. HOA management also enforces the bylaws and provides leadership. Understanding these critical aspects of HOA management will make the community a great place to live.
Please schedule an appointment with us today in Jefferson, Georgia. We will show you why our expert team is the best to lead your homeowner's association.
