Did you know that about 1 in 3 owner-occupied homes in Texas are within an HOA? Homeowner associations are exceptionally popular across the United States, helping to draw communities together.
However, an association is also a great deal of work. Between working on budgets, managing the community, and meeting regularly, it can prove overwhelming for a board of volunteers. How can you make the most of your association?
One of the best ways is with HOA management companies. If you're curious about partnering with a management company for your HOA, we're here to help. Read on to learn more about the role of association management.
Managing the Budget
One of the most common tasks for HOA management companies is to work on the budget. The budget for your HOA will be crucial for planning through the year. Your budget will be spent on community upkeep, events, and more.
A skilled management company will look over your budget and see where things most need allocation. They may take inventory of your community and see that the budget for safety needs increasing, or that there's excess spending on luxuries.
From there, they can help your HOA design a budget that will make the most of what's available. Some management companies will also help you find ways to increase your budget. These methods may range from fundraisers to seeing where your community qualifies for government programs.
Community Upkeep
Another vital task is community upkeep. Community upkeep is tasks like keeping the amenities clean and usable, restocking communal vending machines, and more. Typically, this falls under common areas and not the upkeep of individual homeowner's lawns or properties.
One of the most difficult parts of community upkeep is finding and contracting professionals. The task may include groundskeepers, repairmen, and more. It all depends on what sort of amenities and common areas your community offers.
Enforcing Policies
An HOA will often put forth certain policies for the community to follow. These may include guidelines for property management, noise ordinances, and more.
Enforcing these policies is difficult, as the HOA may lack the authority or means to do so. HOA management companies are able to reach out to the "culprit" and discuss the policies more in-depth to resolve the issue.
Scheduling Meetings
Finally, meetings are an important step for an HOA. These meetings may include discussing the future of the community, calling votes, appointing new HOA members, and more.
A management company can spread the word of a meeting more easily to the community. They also can organize, schedule, and proctor meetings so the members can focus on other duties.
Benefits of HOA Management Companies
HOA management companies are a great resource for any HOA. They're best at managing schedules, budgets, and contractors, but will work closely on any task you need aid with.
At PMI Bluebonnet Realty, we're proud to serve the HOAs of Texas. Our locally-owned and veteran-operated group focuses on integrity, determination, and authenticity. Contact us to see how our years of industry expertise can help your HOA shine.
