Good association management is critical for community value. That tends to be why more HOAs are popping up in the United States.
Up to 70% of all HOAs are run by a property management company.
Why is an association manager from this type of company the right move for your HOA? How do they ensure that your community will be successful?
This guide answers those questions and more.
Being a Good Mediator
A critical skill that an association manager has to have is being a good mediator. The reason why this is so important is that this person is typically in charge of resolving issues within the community.
Let's say that one of the neighbors made too much noise at 11 p.m. It was previously agreed upon that quiet hours started at 10 p.m.
In this scenario, the association manager would have to be the person to remind this neighbor about the quiet hours and tell them to keep the volume down.
The association manager could also explain calmly why it is important to stay quiet during this time and how it impacts the neighbors. This type of conversation takes someone rational yet firm.
They would have to be prepared to get more aggressive if this neighbor refused to listen. That action could mean giving them a fine or even calling the cops.
The point is that the association manager has to have the skills to resolve situations like that peacefully.
Handling the Budget
Another thing that an association manager is responsible for is the HOA budget. This is the money collected via HOA fees and then determining what that money gets used for.
A good association manager will anticipate future expenses for the community. This can mean handling routine building maintenance that is likely going to come up yearly.
It is recommended to dedicate four percent of the property value annually towards this type of maintenance. Putting money aside for it and making sure the current HOA fees cover this are crucial skills to keep a community running.
Managing Vendors
Finally, the association manager is typically in charge of handling the vendors needed for the community. They could start by first determining what vendors are needed for community services.
Then, they could start researching vendors for each job and finding good companies that are the right fit for the HOA. They can also try to negotiate things such as quotes for each service.
Get Good Association Management
These are some of the key things that good association management brings to the table. It can help make your HOA more organized and set up for more success.
If you want to learn how to replicate this, you need to reach out to PMI Broward Sunrise. We offer 24/7 service to our customers and are available to talk in almost any format. Whether you want to communicate by phone, text, or email, we can help you out with any issues that you are facing.
Message us here to learn how to benefit in Fort Lauderdale, FL today.
