Just 10% of Alabama's homes are in HOAs, but they're a growing phenomenon around the country.
HOAs should present residents with many benefits, from higher property values to safety and security. If your community isn't giving you the perks that you were expecting, it might be time to reevaluate the management style of your HOA board.
HOA boards are made up of volunteer homeowners who are often ill-equipped with the resources they need to succeed. If this describes your association, hiring HOA property management is the best path forward.
Keep reading and we'll explain how association management services improve the quality of HOA communities.
HOA Accounting
The hallmark of a successful HOA community is great money management. If you've got good accountants at the helm, you can keep HOA fees down while experiencing the perks of HOA living. Poor accounting practices do just the opposite.
An HOA manager comes with professional accounting services. These people will collect HOA dues from all residents, balance the books, and create sensible budgets for the community's needs.
Routine Maintenance
One of the things you expect when you join an HOA is community and property maintenance. You pay your HOA dues and in return, you should get a community that feels comfortable and safe.
It's usually poor money management that leads to a lack of maintenance. It could just as easily be poor vendor coordination, though. You need to build solid vendor relationships to keep things like garbage collection and seasonal maintenance on schedule.
Homeowners association management brings existing vendor relationships to your community. Whatever your HOA needs, the right vendor will be available.
Not only will this improve the community, but it'll bring more investor interest to it. Greater investor interest leads directly to higher property values.
Governing Communities
All HOAs have governing documents. These are the rules and regulations that homeowners need to adhere to. There's nothing easy about governing dozens of homeowners, however.
HOA management companies are great at upholding governing documents. They're outside entities, so they have no problem issuing penalties to bad actors and handling conflicts between homeowners.
Leading Meetings
HOA meetings bring all homeowners together to discuss important matters. These might include amending governing documents or discussing new amenities in the community. If meetings aren't organized, nothing will ever get accomplished.
One of the best parts of association property management is their ability to run these meetings. They know exactly what it takes to run a successful HOA. Using this knowledge, they can guide meetings that ensure all voices are heard and plans are enacted.
Hire the Best HOA Property Management in Hoover
HOA property management is integral to the success of most HOAs. If your association isn't being run properly, get the best association management services in Hoover.
PMI Birmingham Region is one of Alabama's top community association management groups. We can help with everything mentioned here and plenty more. Contact us today to learn more about what we do and how we can make your HOA thrive in 2024.
