According to the National Association of Realtors, there are more than 75 million Americans who live in a community governed by a homeowners association (HOA). This represents more than 30 percent of all U.S. homes.
HOA communities provide many benefits, including solid home value retention, but they also require a great deal of time and work. Most of these responsibilities fall to an HOA board.
This article explains the many benefits an HOA property manager can bring to your community. Keep reading to learn how they can empower your association and make life easier for its board members.
Homeowners Association Management Experience
HOA boards are usually made up of community volunteers. Of course, they will bring certain personal and professional skills to the position, but there are almost always gaps.
An HOA property manager can fill those gaps. They will bring a wealth of experience and knowledge to managing your association. They also can leverage property management expertise from company and team members, including in the areas:
- Accounting and financial reporting
- Bookkeeping
- Real estate investing
- Buildings and grounds maintenance
- Insurance
- Legal services and representation
This ensures your association runs smoothly, creating a better community for you and other residents.
Freeing Up Time and Work
Beyond the skills that property managers will bring to your association, there is a huge benefit in shifting work and responsibilities from your board to them. This frees up lots of time and alleviates the hassle of having to complete tasks yourself.
HOA managers can take board meeting minutes and send them out to the community. They can write newsletters and manage invitations for community events or volunteer work days.
A major responsibility of many association managers is dealing with staff and contractors. They can supervise grounds maintenance crews and solicit bids for community improvement projects. They can deal with emergencies and ensure all services are being performed satisfactorily.
Note that this does not mean you have to relinquish control--quite the opposite. For instance, your board may review project proposals that the manager has compiled, and then make the final decision about which one to go with. The manager will then coordinate with the contractor to see that the project is completed.
Enforcement of Community Rules
One of the biggest advantages of hiring an association manager is that they can enforce community standards determined by the board. This lets them be the "bad guys," sending out notices of violations and, if necessary, levying and collecting fines.
This eliminates the awkwardness of HOA board members having to send out correspondence to their friends and neighbors. It also provides a level of professionalism that can be helpful in such situations, in addition to ensuring that community rules are followed and upheld.
Find an HOA Property Manager Today
An HOA property manager can help your neighborhood or condo complex run well and eliminate a lot of work and stress for your board. They can provide HOA success strategies, as well as community leadership and direction, regardless of your unique HOA needs and goals.
PMI Prince William provides comprehensive real estate management services to Washington D.C. and northern Virginia. Our team is dedicated to excellence in customer service and offering tools that benefit neighborhoods. Reach out to us today to discuss effective HOA governance today.
