Nearly 90% of homeowners who live in a community association are happy with their association experience.
Yet, not all community associations are equipped to handle their constituents' needs. If your HOA board is in over its head, it might be time to consider community association management.
These services work with your community association leaders to solve issues and generate a better quality of life for everyone in the community. In this post, we're going to look at four of the many advantages of hiring this type of property manager to help with your HOA.
There are always improvements to be made in an HOA. Keep reading and learn how HOA management can help.
1. Boosting Property Value
One of the effects that community association management has on everyone in the community is boosting property value. If you're in an HOA, the entire development should be pleasing to the eye, which includes landscaping, amenities, and well-kept housing.
These are the things that entice new buyers and keep property values high. If you don't have an HOA board that can effectively delegate these tasks, an HOA manager will.
2. Policy Enforcement
When you've got dozens of homeowners living under an HOA, the expectation is that you all follow the same rules. All homeowners should be held to the same standards, but there are always some who go above and beyond and others who fall behind.
Community association management will be able to go through the HOA policies to make sure they're clear and that they're followed by everyone. An experienced manager will also be able to bring sensible new policies that everyone can agree upon, holding everyone accountable for the greater good.
3. Better Financial Management
Elected HOA board members have a huge responsibility to look after the finances of the community association. Obviously, this can be stressful, especially when you've got to deal with so many different opinions about how the money should be spent.
A property manager with HOA experience will be able to better manage these finances. They'll know how to explain where fees are going, the purpose of fee increases, and anything else relating to HOA finances.
4. More Engaged HOA
It can also be difficult to maintain HOA engagement. HOA board members are volunteering their time to deal with the wide-ranging issues that community associations face. Not everyone has enough spare time to engage fully in the matters at hand.
Because a property manager can streamline all aspects of HOA management, you'll end up with a more engaged community. They'll help bring the board members and community members together for better collaboration, which will lead to more effective decision-making.
Get Better Community Association Management Today
Good community association management can make all the difference in the way your HOA operates. PMI Property Management is an experienced HOA manager, offering a variety of services to benefit everyone in the community.
We can handle everything from accounting and vendor coordination to member compliance and maintenance. Contact us today to learn how we can improve your Hudson Valley community association in 2023.