Homeowners associations or HOAs are generally established for two primary reasons: to take care of the community that it serves and to ensure that community standards are followed to maintain property value. These two general reasons may look simple enough on the outset but looking deeper, each of these entail a series of tasks and processes, often tedious and complicated. How can an HOA management company help?
Whether the HOA is a newly established one or it’s been around for awhile but basically run by the Board of Directors and board members, hiring the services of an HOA management company will take on most of the burden. Here are a few key benefits to having an HOA management company help with operations:
1. Fulfill HOA duties and functions on a budget
One of the key takeaways to having an HOA manager take care of the association is that they can fix your finances. This means, once they come onboard, they can immediately check your books to first see if these are balanced; and secondly, to see which areas of operations you’re bleeding money and which ones need immediate attention (and funding). They can help you come up with a workable budget for HOA operations.
2. Serve as an all-around go-to person
If a homeowner has a complaint or concern, or needs something fixed, they can go to the HOA manager to discuss their issue. A key benefit to having an HOA manager onboard is that they have the time to be present for the community. Unlike with the HOA Board’s directors and members who have day-to-day duties and responsibilities who aren’t always available, an HOA manager can be there with one phone call.
The same goes for emergency situations, whether repairs, medical emergencies or natural disasters, a representative from your HOA management company will be there to assist or take charge in some instances.
3. Enforce rules and regulations
One of the biggest challenges for HOAs is getting every homeowner within their jurisdiction to follow the rules. There will always be one or two who will try to bend the rules, and often, they can be a cause for disputes and disagreements between neighbors. As a third-party overseer, the HOA manager can enforce rules and regulations without worrying about stepping on someone’s toes (or ego) or hurting the feelings of a neighbor. They are the neutral player that every HOA needs to ensure that regulations are strictly followed.
In a word, an HOA manager can make your HOA more effective.