As a Homeowners Association you know the issues that can arise between members, and the struggle to balance budget against the needs and wants of the community. That is why there are distinct advantages to hiring a HOA Property Management service. What are the advantages of a HOA Property Management Service?
The Advantages of a HOA Property Management Service
One of the primary reasons large Homeowner’s Associations bring in a professional Community Association Manager to manage the Homeowner’s Association is that they can serve the best interests of every individual in the community. A Manager elected from within the community will always have a bias toward their own area of the community and tend to be viewed as seeking their own advantages, often leading to discord within the HOA Board and discontent within the HOA and community.
Professional HOA Property Management Community Association Manager’s are trained professionals who not only know how to deal with the primary issues concerning a HOA, but also have the external contacts to source and review quotes from contractors to best utilize the budget. The Community Association Manager works with the Board of Directors to ensure that all interests are addressed, and the best solution is delivered within budget.
What to Expect from an All-Inclusive Full-Service HOA Property Management Service
An all-inclusive full service HOA Property Management service provide constant management of the HOA, able to resolve issues every day of the year, responding to all enquiries and requests of members of the HOA. They will provide regular reports to the Board and the HOA on issues, and also respond to external requests such as property inspections.
The HOA Community Association Manager will attend and oversee if required, each Board Meeting, and provide Minutes to all members including action lists. The service will often also include an Emergency Response line for the community to deal with issues such as leaks, flooding, electrical shutdown and small natural disasters.
Management of the HOA’s accounts is also a key activity overseen by the Community Association Manager, with financial statements produced and circulated to the necessary members of the HOA and it’s Board.
Another function of the HOA Property Management service is training of the Board Members and other key HOA members, providing new Board member orientation and seminars in topics such as safety, treasury, maintenance and HOA management.
There is no reason why a large Homeowner Association can’t be run professionally, and to do that it is reasonable to consider having a full-time manager to oversee and supervise the HOA, backed by a professional HOA Property Management service which provides financial, secretarial, emergency management, and training support.
The advantages of a HOA Property Management service far outweigh the costs, and often when a HOA is managed professionally the budget is better utilized within all areas, with the Management service able to negotiate better rates with contractors and service providers while delivering a HOA management service which addresses the needs of all community members and the HOA Board.