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In April 2023, South Florida Agent Magazine revealed that of all U.S. states, Florida has the highest percentage of homes belonging to a homeowners association (HOA). In Florida, 45% of homes have an HOA, whereas the national rate is 22%.
As the magazine also pointed out, homes with HOAs are worth about 4% more than those without, which may help explain their rising popularity. However, it also noted that not everyone loves their HOAs. Luckily, HOA management companies can help in this regard.
Our team at PMI Broward Sunrise has shared how exactly HOA management services in Fort Lauderdale can benefit communities, so read on.
Reducing the BOD's Workload
In communities with HOAs, most management responsibilities fall on the Board of Directors (BOD). The BOD consists of members who are also residents and owners of properties within the community. Board members volunteer to oversee the community's management and upkeep, which often includes:
- Developing and enforcing rules and regulations
- Coordinating maintenance of common or shared areas
- Handling community finances
- Developing programs for community improvement
- Communicating with community members
Because they're volunteers, Board members have separate work and personal lives. It's understandable if they feel overwhelmed by their additional HOA responsibilities.
A Fort Lauderdale community management firm can help by handling many of the Board members' responsibilities. Since the HOA pays the firm to manage the association, the firm fully commits its time to enhancing the community's overall quality. Board members can then concentrate only on the tasks in which they excel.
Boosting Residents' Living Experiences
Although it's not the same for everyone, most homeowners with associations are happy and satisfied with their association experience. According to the Foundation for Community Association Research, 89% rate their community experience as "very good," "good," or "neutral." Nearly three in four also say their association manager supports residents and provides value to them.
Among the many valuable benefits of HOA management done by professionals are:
- Architectural controls that benefit the community and improve property values
- Prompt resolution to resident issues
- Minimizing and mediating neighbor-to-neighbor concerns and disputes
- Enhanced community engagement and satisfaction
- Access to amenities residents can rely on to be fully working and safe
- Ensuring common areas are in tip-top condition
- Increased community improvements through better financial management
- Assurance that contractors and vendors have undergone vetting and verification
With those perks and pros, you can already see how hiring an HOA manager is one of the best community enhancement techniques for excellent association living.
Time to Explore Fort Lauderdale's HOA Management Companies
From reducing the BOD's workload to enhancing residents' living experiences, these are just some of the top benefits of working with HOA management companies. With their expertise and state-of-the-art technology, they can help make your Fort Lauderdale HOA even more valuable and a pleasure to be a part of.
PMI Broward Sunrise is a leading full-service association management company serving the Fort Lauderdale, FL, area. We manage many types of communities, including single-family, master-planned, townhomes, and condominiums. We're also a proud member of PMI, a larger national company with over a decade of history serving the property management industry.
Contact us today to request a bid or learn more about what we can do for your HOA!
