There are currently more than 370,000 managed communities in the US, and most people consider these great places to call home.
Homeowners associations can do a lot to improve a community, but it's not always easy. An HOA board can often struggle to stay on top of everything without help. That's where an HOA management company can help.
They can take on several responsibilities to support an HOA. Keep reading to find out more about the services they provide.
Managing Finances
HOA boards are typically made up of volunteers from within the community. As such, they often lack the skills and expertise needed to fulfill their duties.
Managing finances can be very complicated, and it's one of the main tasks HOA board members struggle with. HOA management companies can be invaluable here.
They have suitable training and experience, so taking care of community finances is no issue. This includes budgeting and making forecasts that align with community goals. By making things more efficient, the money saved can easily outweigh HOA management company costs.
Maintenance
This is something else that HOA boards can find challenging. If any maintenance work is needed within the community, it's important to understand the issue and the solution.
HOA management companies have plenty of experience dealing with a range of maintenance tasks. They can quickly identify a problem and will know who to contact to deal with it.
They maintain extensive networks, so regardless of the issue, they'll know what options are available and who would be best for the job. The relationships they've built up also mean they can often get better deals, which helps save community funds.
Administrative Duties
There are plenty of office duties involved in managing a community. A reliable association management company will help and act as a site location for these office duties.
They use their expertise alongside HOA management software for this. It can involve attending phone calls, emails, messages, and more. They'll also be available for any homeowner questions at all times.
Policy Enforcement
The HOA board establishes rules that all community members must follow. These usually relate to things like unruly behavior and excessive noise. These rules aim to ensure everyone in the community is happy and doesn't have to worry about disturbance.
HOA boards often struggle to make and enforce these, however. This is because they often know residents personally, so enforcing rules can be difficult. HOA management company rules can be set and enforced more easily as they won't have the same personal relationships with residents.
Does Your Community Need an HOA Management Company?
An HOA management company can have a huge impact on a community. They will make it a more enjoyable place to live for residents, support the HOA board, and even help maintain property values.
PMI Prince William can take on these HOA company responsibilities to ensure your HOA board can stay on top of things at all times. Contact us today to learn more about what we can do for your community.
