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Homeowners’ Associations or HOAs are typically governed by a board of directors. These directors tend to be volunteer homeowners who are elected by their peers. As the HOA board members are volunteers, they often do not have the luxury of dedicating all their time to managing the HOA. For this reason, an increasing number of communities decide to hire a professional HOA property management company.
Hiring professional help for HOA management is one of the best decisions HOA board members can make. HOA management companies can be especially helpful for large communities. While self-management might work for smaller HOAs, larger ones tend to have more residents and complex operations, thereby necessitating the expertise of professionals.
Top 2 reasons to hire an HOA property management company
Homeowners’ Associations (HOAs) play a huge role in maintaining and managing communities, and have a major impact on preserving property values. Hiring an experienced and reputable HOA property management company for your HOA is all about bringing value and consistency to your association board, as well as the homeowners and residents that are part of your community. The right HOA management company would bring their professional standards to the table, and use proven methods to make your association more responsive and effective in meeting the needs of your community.
There are several reasons that make hiring an HOA property management company an excellent decision, including:
- Expertise and experience: Professional HOA property management companies tend to have the experience and expertise necessary to seamlessly manage community associations of varied types. They have a good understanding of the rules and regulations that govern modern community associations, and are well acquainted with the best practices for managing the day-to-day operations of the association. An HOA management company can make sure that your community is in compliance with all the relevant laws and regulations. Their team can provide professional guidance on a myriad of issues, including budgeting and vendor management.
- Time Savings: Managing an HOA can be a fairly time-consuming endeavour, especially for volunteers who might have a number of other professional and personal obligations. By seeking the assistance of an HOA management company, these volunteers can free up their valuable time to focus on other vital tasks. The team of an HOA management company can handle multiple time-consuming tasks, including preparing essential activity reports that include requests from the Board of Directors, homeowners, property inspections, and more.
Hiring professional assistance can also significantly improve the communication and response times of an HOA. Clear communication is one of the biggest challenges for larger HOAs. Modern homeowners want fast, reliable updates, which volunteer boards often struggle to keep up with. Poor communication often leads to higher resident dissatisfaction, due to which many associations end up with increased complaints. A professional HOA management company can bridge this gap. They make an effort to provide a concise response to all homeowner requests with an acknowledgement letter, and even offer after-hours answering services 24/7 for community emergencies.