Community associations are growing in popularity, with much of the population now living in one. Recent reports show that 30% of the population in the United States now has an HOA, which means you may need to deal with one sooner or later.
The question is, should your HOA manage itself or turn to an association management company? Here are some of the efficiency reasons that make it worth working with one.
Easier Management
Simplifying HOA management is a great reason to hire an association manager. Many community members may not have experience with this type of work and don't want to learn. Hiring a professional HOA manager who's done it before makes more sense.
That means you'll have an easier time managing your HOA. Your manager will ensure meetings are held to deal with issues and handle all the little details. That way, the board can focus on real issues instead of the little details.
Vendor Management
Another time-consuming aspect of HOA management is coordinating with vendors. You have countless companies to work with to ensure your community looks great and all problems are taken care of.
Many management companies have contacts with reputable vendors. They will coordinate on your behalf to ensure maintenance happens when it's supposed to and maintain the property values in the community.
Rule Enforcement
Enforcing rules is one of the least pleasant parts of being in an HOA. You don't want to get into unpleasant situations with your neighbors, so you may hesitate to force people to follow the rules.
A homeowners association management company doesn't have that conflict. They will take all HOA complaints and ensure residents comply with the rules.
Financial Management
Another part of HOA management that isn't always easy is finances. The HOA dues are there to ensure maintenance happens and reserve funds are built. But without property management, the HOA may run out of cash and have problems.
HOA management companies have experienced accountants to help with this issue. You can rest easy knowing your HOA will have excellent financial management.
Clear Communication
Having great communication is one of the key things a great HOA should strive to offer. But with the time commitements and other life issues, individual HOA members may struggle to communicate well.
A dedicated association manager will ensure clear communication. They will be there to handle requests, complaints, and other issues. As a result, community members will always have someone to go to for issues and be able to get issues resolved quickly.
Use an Association Management Company
You need all the help you can get when running a homeowners association. Between issues with residents and financial problems, the right help can be the difference between a great HOA experience and a bad time. Reach out to an association management company to learn more about what they can offer.
If you're ready to work with a professional management company, PMI Bluebonnet Realty can help. We offer every service an HOA needs to run an efficient organization. Contact us to learn how we can help optimize your HOA.
