Although HOAs are becoming more popular with homeowners, many people may not have the time to deal with management themselves. They live busy lives, so they don't have time to volunteer. That's why property management companies now manage at least 60% of all HOAs.
So, will working with HOA management companies be worth it for your community? Let's look at a few of the benefits of working with one.
Property Maintenance
HOA management companies have relationships with reputable vendors that can help maintain your community. Some of these tasks include:
- Property maintenance
- Landscaping
- Community building maintenance
- Emergency repairs
Your management company's neighborhood improvement services will work to schedule the upkeep of your community. They will ensure it always looks great, you have reliable workers, and emergencies are handled as soon as possible.
Rule Enforcement
It's not easy to enforce rules against your neighbors. You want to maintain good relationships, but when you personally issue violations against people you live near, it risks causing friction in your relationship.
One of the best community management tips to follow is to get a management company to handle this task. They act as a neutral third party to reduce the chances of these negative interactions happening.
Administrative Work
A lot of administrative work goes into maintaining HOAs that people often forget about. These are tasks such as:
- Hold community meetings
- Schedule events
- Enforce rules
- Respond to community issues
Each of these may take more time to handle than some board members have to give. HOA property management firms can help by offering administrative help. They can handle much of the heavy lifting, create more engagement, and allow board members to focus on more important issues.
Legal Support
Unfortunately, your HOA may sometimes run into legal issues. You accidentally do something against local regulations and end up in legal trouble. And if your board isn't familiar with the rules, this may happen more than you think.
A lot of the HOA board support you get with management companies is legal support. Your management partner will ensure you comply with local regulations and avoid legal problems.
Financial Assistance
Even if an HOA board does a good job of setting up community maintenance and creating engagement, it can't do much if it doesn't have money. It may cost more than you think to run an HOA community. You need help with maintenance, emergencies, and other issues.
Your management company can offer financial accounting assistance to ensure your community doesn't run out of money. You'll get help creating a monthly budget and setting aside cash for an emergency fund.
Work With HOA Management Companies
It takes more work than many people think to run an HOA. It requires administrative work, navigating complex personal issues, and getting the community involved. Don't hesitate to begin working with professional HOA management companies to get the help you need to succeed with your HOA.
Do you want to learn more about Winston Salem HOA services? At PMI of the Triad, we offer HOA solutions to community associations that need help with any aspect of HOA management. Contact us to learn what we can offer.
