Everyone wants to live in the perfect neighborhood, but as many as 55% of people aren't currently where they want to be.
A lot of factors can affect someone's quality of life, and things are usually better for those in HOA communities. Homeowners associations work to improve things for residents, though there are some tasks they often struggle with. An HOA management company can take on some of these responsibilities and do them very efficiently.
Keep reading for a rundown of some of the key ways in which HOA management services can improve the quality of life for residents in your community.
1. Finance Management
One of the main reasons to hire an association manager is to deal with things that the HOA board doesn't have the expertise for. Financial matters within an HOA can become very complicated, and board members often don't have the knowledge or experience to handle them effectively.
Association managers are trained to deal with finances and accounts. They can take care of things like:
- Executing daily financial tasks
- Maintaining records
- Creating budgets
In many cases, they can identify areas of overspending. They can then make changes so that community funds are used more efficiently.
2. Policy Enforcement
The HOA board of directors will set certain community policies. All residents must follow these, but if they don't, HOA boards may struggle to enforce them. As board members tend to know residents personally, this can get in the way of proper rule enforcement.
Association managers don't have this issue. They can act without bias to ensure all residents are treated fairly and equally in accordance with community policies.
3. Vendor Coordination
Association managers can coordinate with vendors for services like landscaping and trash removal. They can also negotiate with them to ensure your community is getting the best prices.
They'll act as the point of contact for these vendors to ensure everything is organized. While doing this, they'll make sure all vendors comply with any relevant regulations and insurance requirements. This will keep things running smoothly within the community, leading to higher tenant satisfaction.
4. Administrative Tasks
Association managers can take care of various administrative duties. They're time-consuming, but they must be done correctly. This includes tasks such as:
- Coordinating board meetings
- Assisting the HOA with budgeting
- Creating and maintaining reports
- Answering phone calls, voicemails, and emails
- Planning agendas and events
- Cooperating with tasks related to accounting or invoicing
HOA board members are typically capable of these tasks but often don't have the time to see to them effectively.
5. Communal Area Maintenance
HOA communities tend to have dedicated common areas such as pools, gyms, and parks. The HOA is responsible for keeping these in good shape and an association manager can organize and oversee things.
This includes hiring contractors and other professionals for routine maintenance and repairs. As with vendors, they can usually negotiate to get the best prices for your community.
Professional HOA Management Services
Any HOA community can benefit from professional HOA management services. They can organize vendor services and maintenance, enforce policies, deal with administrative tasks, and enforce community policies.
PMI PG County can provide all of this and more for your community in Hyattsville, MD. Take a look at our association management page to see more.
