According to Axios, around 2 million Virginians live in 9,100 HOAs.
When you live in an HOA community, you need leadership that is committed to excellence if you're going to get all of the perks of community living. If your HOA board isn't up to the task, the only thing to do is look for a community association management company who is.
In today's post, we're going to explain the main duties of HOA management companies. Keep reading and you'll understand why community management solutions exist and how they can help you.
Governance and Compliance
Governance is an important piece of the HOA puzzle. Without strong governance, many homeowners will feel like they're living in a lawless association.
An HOA manager will promote compliance with the community's governing documents - the rules and regulations that all homeowners must live by. There are always going to be those who think they're above the rules, but your HOA manager will punish them as needed, which could go as far as an HOA eviction.
The result of strong governance is a more cohesive and happy community. This is one of the biggest perks of hiring an HOA manager.
Money Management
To live in an HOA and experience the perks of HOA living, community members must pay monthly dues. These funds are pooled to pay for everything the community needs, from new amenities to weekly maintenance.
If your HOA board doesn't have an experienced accountant available, it's possible that these funds can be mismanaged. The consequence of poor accounting always falls on community members, with raised fees and lower property values.
An HOA manager will professionally tackle money management. They'll collect fees, balance books, and create budgets that guarantee the financial health of the HOA.
HOA Maintenance
Community maintenance is important for multiple reasons. First, it ensures the comfort and safety of all HOA residents. Secondly, it brings more interest from real estate investors.
When you have investor interest in your community, HOA home values will skyrocket. Some HOAs have property values as much as 4% higher than other homes.
Vendor coordination is at the core of HOA maintenance. HOA management companies have networks of local vendors to tackle whatever kind of maintenance your community needs.
Running Meetings
HOA meetings bring all homeowners together regularly. During the meetings, all manner of things are discussed so that the community can get on the same page and move forward with plans. If your meetings aren't organized, however, they'll never amount to much.
Association management experts will run effective meetings. They'll ensure all homeowners are heard and plans are enacted once a consensus is reached.
Hire the Top Community Association Management Company in Woodbridge
These are a few of the many ways that a community association management company can improve your HOA. When you have a good HOA manager running your association, you'll finally experience the perks of HOA living.
For communities in Woodbridge, there's only one choice for HOA management - PMI Prince William. As the area's top HOA management and part of the nation's largest property management group, we offer all of the services mentioned here and more. Contact us today to learn more about how we can improve your community in 2024.
