Nearly 60% of HOA members say having an HOA has made their lives easier (LendingTree, an online loan marketplace). However, 45% of members say their dues have increased in the past year. To keep residents happy and reduce costs, hire an HOA property management company.
HOA management services can make your community a better place to live. What community management benefits make it worth the price? Read on to discover the top property manager advantages you can experience firsthand!
1. Protect Aesthetics
Without regular inspections and routine maintenance, your beautiful community will fall apart. An experienced HOA management company can improve and maintain the neighborhood. Proper maintenance will make the community more attractive to future residents.
HOA management services can include:
- Common area inspections
- Online maintenance and work order management
- Architectural request tracking
- Management of maintenance plans
- Vendor insurance tracking
- Obtaining competitive bids for services
- 24-hour availability/on-call maintenance
- Coordination and management with Reserve Study
Their 24-hour availability will give residents peace of mind that help is a call away. These services can protect and enhance the value of your community.
An experienced HOA manager will already have professional connections with local vendors. They'll ensure you don't overpay or hire an unreliable contractor. Instead, they'll maintain your community, making it a better place to live.
2. Residential Community Solutions
For a community to thrive, communication and transparency between the HOA board and residents is essential. An experienced HOA manager can provide HOA administration tips to improve communication.
For example, they can provide residents with access to an online resident portal. Residents can use the portal to track maintenance projects, upcoming events, and updates from the board.
Your HOA manager can encourage residents to attend more board meetings. This will ensure everyone is up-to-date regarding changes and new regulations. These residential community solutions can foster a harmonious community.
3. Navigate Regulations
Board members and volunteers may feel uncomfortable enforcing rules on their friends and neighbors. Your property manager will review your community's Covenants, Conditions, and Restrictions. They'll enforce the regulations on the board's behalf.
Your HOA manager can also help you adhere to new local, state, and federal housing laws. This will help the community avoid fines.
4. Manage Finances
Fewer than two in three HOA residents surveyed feel their HOA honestly handles the finances (Rocket Mortgage). They may feel more comfortable if a third party steps in.
Your HOA manager can ensure the community's ongoing financial stability. Their services may include:
- Preparing and filing tax returns
- Managing the HOA's budget
- Preparing and maintaining financial records
- Processing HOA dues and fees
- Handling payroll for HOA employees
- Providing the board with financial records
- Assisting with decision-making
Maintaining the community's financial stability can ensure its long-term growth.
5. Minimize Stress
Managing a community can be stressful, especially if your volunteers work alone. Community management benefits everyone involved. Your volunteers can enjoy living in your beautiful community instead of working for it.
Hire Your HOA Property Management Company
HOA management services can help your community thrive. Consider hiring an HOA management company. Their services will add value back to your community and those who live there.
Look no further than PMI Broward Sunrise. We'll customize our management services to meet your community's unique needs.
Trust our innovative strategies, accurate and up-to-date practices, and comprehensive services. Contact us now for a free consultation.
