Over 3,000 new American HOAs are going to pop up in 2024 alone, according to the NAR.
If you're struggling with HOA living, it's likely due to mismanagement. Many communities are run by a group of volunteers that make up the HOA board of directors.
These people are in charge of everything from fee collection to governance. When they're not equipped to handle these tasks, chaos may ensue. If this is the case in your community, you need to hire a community association management company.
Today, we'll explain what neighborhood management services do to enrich the community living experience. Keep reading and embrace the power of professional community management.
Fee Collection
The ways that a top HOA management service can enrich your community can be taken literally. When you live in an HOA, you're expected to pay your HOA dues so that the community can continue operating.
If your HOA board isn't performing its accounting duties properly, HOA dues won't be enough to cover the community's needs. As a result, the board will be forced to raise due amounts on community members, which will create plenty of animosity toward leadership.
A community manager can stabilize your community's finances. They'll collect dues, balance books, and create budgets that protect the financial health of the HOA.
HOA Rule Enforcement
HOA residents have to abide by the community's rules and regulations. If a homeowner breaks the rules, whether it's allowing an unauthorized tenant or failing to follow landscaping guidelines, they must be punished.
It sometimes creates an uncomfortable power dynamic when the board - who are volunteers - has authority over other homeowners. This can lead to board members failing to deal with bad actors.
This won't be a problem for an HOA manager. They'll deal with bad actors and mediate conflicts between residents to improve adherence to the rules.
Community Maintenance
A big part of the HOA's quality of life comes down to maintenance. Much of the HOA dues should go towards paying vendors to take care of everything from snow removal to recycling removal.
If you don't coordinate vendors well, you'll end up falling behind on maintenance. A well-maintained community makes residents feel safe and comfortable in the HOA. It also helps draw investors to the community, which will cause property values to rise.
Community managers bring vendors to each new HOA they work with. Everything your community needs will be a call away.
Enhance Community Living
Community meetings bring all homeowners together to get everyone on the same page. When everyone's pulling in the same direction, it'll enhance community living. You need to run organized meetings that allow all homeowners to voice their opinions to keep everyone happy.
HOA managers know how to run these kinds of meetings. In addition to hearing everyone out, they'll enact community decisions after meetings are complete.
Hire the Top Community Association Management Company
These are a few of the many ways that a community association management company can enrich HOA living. It's important to find the best possible HOA manager for your community.
If you're in the Hartford area, the decision is obvious. PMI ConnV is part of the largest property management group in the country. We can help your community take leaps forward in 2024, so contact us today to learn more.
