If you are one of the 30% of Americans now living in one of the many HOAs across the country, there is little doubt you understand their benefit. With their ability to maintain property values with careful application of rules and regulations and a real sense of community, they have great potential. However, have you seen what happens when they become overwhelmed?
Governing an HOA involves complex legal, financial, and operational challenges. Below, we explain how hiring a Home Owners Association Property Management Company can take the edge off those difficulties. So, discover how to streamline operations, improve compliance, and boost community happiness today.
The Role of a Home Owners Association
HOAs are responsible for many aspects of maintaining a local community's standards. In doing this, they can help ensure a local community runs smoothly and doesn't cause a loss of property value. It does this through:
- Creating and enforcing bylaws
- Organizing social events to foster community spirit
- Arranging maintenance and upkeep of community spaces
- HOA community management
However, for many HOA board members, it can be overwhelming to perform all their duties and keep up with their day-to-day life. For example:
- Staying informed of local laws and regulations that impact the HOA
- Engaging in financial bookkeeping and budgeting for the community
- Addressing homeowner complaints and resolving disputes
- Conducting regular board meetings
Many of these tasks demand expertise in procedures and professional skills, which board members are unlikely to have learned as part of a volunteer service.
Benefits of Hiring an HOA Property Management Company
Having someone else engaged in HOA governance, such as PMI 23 East, ensures you have someone with a strong level of expertise in the fore. They can provide administrative support to the HOA, reducing the workload for overwhelmed positions.
Management companies can also:
- Provide financial oversight and accounting services
- Offer expert legal advice regarding legislative changes
- Draft and update community rules to reflect community needs
- Train board members on governance best practices
- Chair HOA board meetings efficiently and effectively
- Act as a liaison for the board to improve communication efforts
The above list is not exhaustive. A HOA management company can often do much more with practiced efficiency. Discuss the nature of a HOA governance company with them to learn more about what they can do for you.
How Individual Homeowners Benefit from HOA Governance
It is not only the board that benefits. The peace of mind of individual homeowners can also increase as the management company resolves issues. This weight then lifts from the community's shoulders when the board is transparent about their efforts.
With outside help, a well-managed association can then focus on the issues that really matter, boosting the community in the eyes of its residents.
Streamlining HOA Governance with a HOA Professional Property Management Strategy
Leveraging a highly-organized home owners association property management company offers assurance to a board and local neighborhood, alleviating burdens from the whole community. Partnering with PMI 23 East can give you this success, elevating the living experience for the entire association due to skilled professionalism and well-crafting management techniques.
PMI 23 East can transform the HOA's challenges into opportunities for growth and further harmony with open and honest communication with and between residents. So, get in contact today to find out what we can do to get that ball rolling.
