There are over 370,000 homeowner associations (HOA) in the US, which represents over 40 million households. However, not all manage communities in the same way. One of the best ways to leverage the benefits of a HOA community is with homeowner's association property management.
A homeowner's association property manager offers consistency, legal expertise, professional experience, and many other benefits. Here are some of HOA managers' main responsibilities to enrich HOA communities.
Enforcing Community Policies
One of the main reasons people choose to live in a HOA is because of the community. However, humans have long had a leader in communities to keep everything harmonious. HOA property managers take on this role by enforcing community policies.
The property management company ensures all community members follow the HOA conditions. They will carry out inspections of properties and track any violations. They will try to resolve non-compliance issues or take disciplinary action as required.
HOA managers will manage and build relationships with vendors. They will monitor vendor performance, compliance, accounting, and contracts. They will also screen vendors, which means the HOA community has the best vendors to thrive.
Maintenance and Inspections
In order for a community to thrive, properties and common areas need to be maintained to a high standard. More than 82% of newly constructed homes are HOA communities. An essential element of HOA success is maintaining the site.
HOA property management provides 24/7 support to address emergency maintenance. They will also schedule regular maintenance so you have peace of mind any issues will be identified promptly.
HOA Community Billing and Collections
HOA managers also cover the financial responsibilities of a community. These accounting tasks include:
- Handing notices to residents
- Billing residents
- Collecting payments
- Dues collection
- Escalating delinquent accounts
- Coordination with HOA attorney for overdue assessments
A property management company has the experience to manage billing efficiently. They can help keep your community on top of its finances and enforce billing with ease. They will also help you deal with any overdue accounts promptly.
Communication with Residents
Property managers become the direct point of contact for residents. Residents will have a seamless experience if they need to communicate an issue. Communication is essential to keep residents up-to-date with protocols, regulations, maintenance, and other notices.
Other Administrative Tasks
HOA managers complete administrative office duties. These include:
- Creating HOA reports
- Attending board meetings
- Helping coordinate events
- Providing homeowner resources
There are many ways a HOA manager can assist with administrative tasks. Most importantly, they keep your HOA organized. This helps improve your reputation and encourage others to join your HOA.
Homeowner's Association Property Manager
A homeowner's association property manager can enrich your community in many ways. They have the expertise to oversee property management. They also have the expertise to help your community expand and thrive.
Are you based in the Boulder area? PMI Flatirons Group is here to help. We are part of the PMI Property Management Group, which has teams of experts nationwide.
Contact us to talk with one of our HOA managers and learn more.