Homeowner’s associations (HOAs) are an integral part of many communities in the United States. Such organizations aim at preserving property values and mitigating conflicts within a community. HOA boards, however, are usually comprised of only volunteers, who may not have the skills to manage the community effectively. Hence, they can significantly benefit from hiring a professional HOA property management company. Leveraging the expertise of such a company is not just about outsourcing tasks. Rather, it enables you to invest in an innovative, value-enhancing service. Availing such services can mean the difference between a disorganized HOA and one that serves the best interests of all members of the community.
Services HOA Property Management Company Can Provide
While independently managing an HOA might seem appealing, it often leads to challenges owing to volunteer constraints and limited resources. Without adequate support, maintaining and enforcing community guidelines can become very difficult. Issues like inconsistent enforcement of covenants and potential favouritism may arise and negatively impact the harmony and unity of the community. To steer clear of such concerns, it would be a good idea to seek the assistance of professionals and have a well-established property management system in place. A professional HOA property management company can provide a range of valuable services, including:
- Answer questions of the board members on a daily basis.
- Attend monthly regularly scheduled Board Meetings.
- After-hours answering services 24/7 for community emergencies.
- Answer and act upon both written and verbal homeowner communications in a prompt manner.
- Offer a concise response to all homeowner requests through an acknowledgement letter.
- Prepare essential activity reports that include requests from the Board of Directors, homeowners, property inspectors, and more.
- Mail minutes and action lists generated from the board meeting to all members of the Board. This action list shall include all the progress on the requests of the Board since the meeting.
- Prepare the Board Member meeting package. This meeting package shall include management reports, meeting agenda, bids received, financial statements, copies of all correspondence sent and received, and more.
- Offer samples of minutes, rules, correspondence, billing statements, and more, which can be customized as per the specific needs of every HOA.
- Carry out professional small-scale seminars, which include New Board Member Orientation and Treasurer Seminars.
Board meetings are crucial for community decision-making. The members of an HOA management company shall not only attend these meetings, but also help in planning and organizing them, to make sure that things run smoothly and efficiently. This would allow community members to focus on important discussions and decision-making processes without having to deal with major administrative burdens. Moreover, being a neutral party, HOA management companies enforce community rules and regulations fairly and consistently. Their impartial approach significantly helps minimize conflicts between board members and residents, thereby fostering a sense of trust and equality within the community.
HOA property management companies can work with diverse HOAs, starting from newly established communities that are in the earliest stage of development to more mature communities facing the complex challenges. Their community managers shall consult with the HOA Board to share the best practices in diverse areas of community management.
