Texas is home to around 20,000 homeowners associations, serving around 5.5 million people.
If you're thinking about buying into an HOA or wondering how your HOA could be improved, it's important to understand the roles of association management companies. A normal HOA is governed by a board of directors that takes care of pretty much everything to do with running the community.
Managing an association is a big job for a group of volunteers to take on and it's easy to tell when an HOA board is overmatched. For an HOA to thrive, it's always best to hire HOA property management.
Today, we'll discuss the benefits of HOA management services. Living in an HOA should be easier, so keep reading and find out how an HOA manager can help.
Vendor Management
The best thing for any HOA is to have a professional at the helm. You'll need someone who is well-versed in vendor management so that your community's maintenance and repairs are always a priority.
HOA managers often come with built-in vendor relationships. Your community needs vendors for everything from garbage removal and landscaping to road and amenity repairs. Whatever services are needed, your association manager will develop contracts and schedule with vendors to ensure it happens.
Running Meetings
HOA meetings and board meetings are essential in developing the communication necessary for a community to thrive. Community-wide meetings address the bigger picture, while HOA board meetings address the day-to-day aspect of running an association.
Both types of meetings need strong leaders to be effective. Your HOA manager will create an agenda for these meetings and hear out the community's concerns and ideas. After the meeting, they'll help the board put plans in place to enact the community's wishes.
Money Management
Homeowners pay their HOA fees and expect certain things in return. If the HOA board isn't smart with accounting and budgeting, it could result in higher fees and angry homeowners.
An HOA manager brings experience with HOA finances to the table. Having a strong budget in place that accounts for maintenance, new developments, and repairs, will ensure that HOA fees stay the same and property values grow.
When it's done correctly, properties in your HOA should be around 4% higher than similar properties outside the HOA. This is one of the biggest benefits that HOA members should enjoy.
Rule Enforcement
Rules and regulations are an important aspect of HOA living. Your HOA board may have trouble enforcing these rules due to the power dynamic that it creates between neighbors. It can often result in disharmony in the community.
An HOA manager resolves this simply by being a third party. They can help develop sensible governing documents for the HOA, but they can also resolve conflicts and issue discipline when necessary. Keeping bad actors in line will help the community maintain civility.
Get the Best HOA Property Management in Spring Branch, TX
As you can see, HOA property management can bring so much to any HOA community. Whether you're looking to join an HOA or improve your existing one, it's important to find reputable property management services.
At PMI Bluebonnet Realty, we're one of the top HOA property managers in Texas and around the country. Contact us today to learn more about our services and how they can better your HOA in 2023.
