Data from the Foundation for Community Association Research suggests that about 75.5 million Americans reside in managed communities.
HOA communities are often very desirable as residents tend to have a higher quality of life. With that said, they can face several of their own challenges.
An HOA board may have a hard time keeping up with their responsibilities and might require help from a community association management company.
In this guide, we'll go over what an association management company is and how one could help your community. Keep reading for more.
What Is an Association Management Company?
An association management company offers services to HOA communities based on their needs. These cover the governance and handling of the HOA and can involve several specific duties.
When an HOA board is struggling to stay on top of their duties, they can seek out an association management company for help. This might be because they lack the skills or experience for certain tasks, or they simply may not have the time to handle everything effectively. In either case, an association manager can provide invaluable assistance.
What Does an HOA Manager Do?
An HOA manager can take on a wide range of tasks. Some of these may include:
- Facilitating HOA board meetings
- Creating meeting agendas
- Organizing common area maintenance
- Organizing community events and functions
- Sending invoices
- Managing finances
- Managing insurance
- Enforcing HOA policies
- Providing legal advice
The exact duties an HOA manager may take on for your community will depend on your specific needs. Note that an HOA manager may not be able to handle all tasks. For example, while they can oversee common area maintenance, all residents are still responsible for their own property maintenance.
It's a good idea to discuss your needs with an association management company before hiring them. This way, you can ensure they'll be able to provide the assistance that your community needs.
The Benefits of Association Management?
There are several benefits to hiring an association management company, with one of the most important being the varied experience they bring to the table. HOA boards often struggle because board members lack the experience and skills needed for certain tasks. An association manager will be able to offer guidance and take on responsibilities that the board is having a hard time with.
Association managers work to maintain clear and open communication with both residents and the HOA board. They can ensure everyone is on the same page at all times to avoid any kind of confusion or misunderstanding.
They have extensive legal experience, so they can provide guidance when needed. With their assistance, you can ensure your HOA board and community is compliant at all times to reduce the risk of legal issues.
Professional Community Association Management
Working with a community association management company is one of the best ways to ensure your community thrives. They provide experience and expertise that will help your HOA board stay on top of their duties, improving the lives of all residents.
PMI Values Your Casa is a leading real estate asset management company serving Cypress and the surrounding communities. We provide a wealth of experience and can tailor our services to meet the exact needs of your community. Take a look at our association management services page to find out more.
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