There is lots of work that goes into running an effective HOA, and much of it is done by volunteers. It can be a lot for volunteers to deal with, so hiring a professional management company can really be a positive asset. The role of property management companies in HOAs is to provide necessary support and help ensure the community is well-managed and enjoyed by all.
Some HOAs choose to self-manage, but many have turned to property management companies upon realizing how much they can benefit from this partnership. It can be well worth the investment if you do your research and find a reputable company that can meet your needs.
Here are just a few benefits of working with a professional property manager:
Knowledge. Many boards lack experience when it comes to finance and record keeping. Professional managers have a wealth of knowledge regarding HOA management and all of the requirements that go along with it. They can connect the HOA with training and guidance to improve their knowledge and skills, while also handling many administrative tasks.
Added Resources. Property management companies work with a variety of clients with different needs. They have built connections in the community and can recommend contractors for landscaping, pest control, construction, repairs and more. This can save the HOA time and allow the board to contact several reputable companies for bids instead of having to search through dozens of listings on its own.
Clarity and Consistency. HOAs run more smoothly when rules and regulations are clear, concise, and consistently enforced. A property manager can review documents to ensure they align with the law and help to correct any inconsistencies, confusion, or potential violations. Homeowners can have peace of mind knowing that rules will be enforced fairly across the community and problems will be addressed in a timely manner.
Support. Property managers can take on many of the day-to-day responsibilities of running an HOA and free up board members to focus on more important issues. This can allow decisions to made more quickly and efficiently since more time can be devoted to planning and discussion.
Guidance. Board members are volunteers, and many do not have previous experience running an HOA. Even if they have sat on the board for a few years, there are always new issues that arise that they may not be sure how to handle. A property manager can provide guidance on resolving problems, making clearly defined rules and regulations, and executing decisions and projects.
If your HOA could use additional support and guidance to help boost its operations, communications, and relationships with homeowners, contact Premier Property Management Services, LLC today. Discover the benefits of a strong partnership with a high-quality, professional property management company.