HOA management services are similar to property management services in that they take care of most aspects related to running an HOA, the difference is that they don't collect rent or deal directly with homeowners.
These professionals take instructions from the community's HOA board; which is ultimately responsible for ensuring resident satisfaction and preserving the value of the HOA. Effective HOA management involves numerous tasks that are central to these responsibilities.
Read on to find out if it's time your HOA board reached out for help managing their community.
HOA Management Tasks
HOA residents pay monthly or annual HOA fees to contribute to the running of the community. In return, they expect the HOA board to take care of the following:
- Financial management
- Property maintenance and repairs
- Enforcing community rules and regulations
- Conflict resolution
Elected volunteer board members must find the time to meet these expectations. This can prove difficult in between juggling their jobs and family responsibilities.
When to Hire an HOA Management Service
When these responsibilities become a burden for HOA board members, it's easy for things to slip through the cracks. There is a limit to how much a small group of volunteers can do.
A recent study shows that volunteer HOA board members already spend a combined total of 97 million hours on community tasks annually.
The responsibilities of managing a community can become overwhelming when a community grows fast or tasks become more complex. Sometimes, board members simply lack the time and expertise to manage an HOA to the community's satisfaction.
A high turnover of board members is another red flag that indicates it's time to hire a professional HOA management team.
Benefits of Hiring HOA Management Services
HOA management services have the latest technology, dedicated personnel, expertise, and experience to help them manage HOA communities most effectively.
They can assist your HOA board with several things, like:
- Financial reporting
- Legal compliance
- Maintenance coordination for communal areas
- Rule enforcement
- Community communications
There are a few things that an HOA service cannot do for your board. These include things like setting fees, managing budgets, and representing the board in meetings.
However, when you hire an HOA management company, you'll free up your board members' time to focus more intently on these issues.
Importantly, HOA managers are neutral third parties. This makes it easier for them to assist with late fee collections, rule enforcement, and unbiased dispute resolution. It's often difficult for HOA board members to confront fellow residents, who may be their neighbors or friends, about these issues.
Hire a Professional HOA Management Team Today
If your HOA board feels like it's fighting a losing battle trying to juggle numerous tasks every day, it's time to hire HOA management services. These professionals can alleviate you of time-consuming routine tasks so you can focus on more important matters.
The Flatirons Group is your first choice among property managers in Boulder, CO. We are backed by a franchise with over 20 years of experience, and our team is committed to helping every HOA community thrive.
Discover a better way to keep your HOA community running smoothly today.
