According to the Foundation for Community Association Research, about 30% of the U.S. housing stock is represented by HOA communities.
People who live within these communities can benefit from everything their HOA board does. However, these boards often struggle to keep up with their many duties. They can seek assistance from community association managers to help with this.
So what exactly is HOA management? Keep reading through this guide to find out.
What Is HOA Management?
HOA management is a service that a managed community can acquire. It involves the governance and handling of an HOA and typically consists of assisting with or taking over various duties that would typically fall to the HOA board.
An HOA might seek out HOA management when the board is unable to stay on top of its tasks. It's worth noting that certain tasks can be quite complicated and often require specific experience. When no board members have the relevant experience, an HOA management company could be the best solution.
What Do Community Association Managers Do?
The exact responsibilities that an HOA manager takes on can vary. It will ultimately depend on the particular needs within a given community. Some of the most common duties that an association management company may help with include:
- Organizing common area maintenance
- Managing finances
- Collecting dues and assessments
- Sending invoices
- Managing insurance
- Facilitating HOA board meetings
- Creating meeting agendas
- Enforcing HOA policies
- Providing legal advice
- Organizing community events and functions
It's important to understand that an HOA manager doesn't always handle everything. For example, while they can take over maintenance for common areas, residents are still responsible for their own property maintenance. It can be worth asking an association management company exactly what they offer to ensure they meet your needs.
What Are the Benefits of Association Management?
One of the main benefits of hiring an association manager is that they have varied experience. Community volunteers on the HOA board may be taking on entirely new tasks which can make things difficult. An association manager knows how to manage a community effectively and they can give the board reliable advice and guidance.
Association managers maintain open communication with both the HOA board and residents. In doing so, they help ensure everyone is on the same page at all times.
They have in-depth legal experience, so they can provide expert guidance when the HOA board needs it. This includes knowledge of:
- The Fair Housing Act
- The Fair Debt Collection Practices Act
- The OTARD Rule
- Local and state laws
With their assistance, you can ensure your HOA board and community remain compliant and avoid legal issues.
You can also expect consistency from an experienced HOA manager. They can prevent any bias or favoritism in the community to help keep all residents happy.
Working With a Community Association Management Company
Community association managers can be incredibly beneficial. Their experience and skills can help your community thrive and succeed.
PMI Values Your Casa is a leading real estate asset management company serving Cypress and the surrounding communities. Our expert team has years of experience and leverages cutting-edge technology to deliver exceptional service at all times. Take a look at our association management page to see more about how we can help your community.
.webp)