Professional HOA Management: 6 Reasons Why Your Community Needs One
One of the main roles of the Homeowners Associations (HOA's) is to lead the community in the right direction by making the right legal decisions, managing finances correctly, and working with the members of the community.
While it is true that many benefits come with serving on an HOA board, the role requires significant effort and commitment. To reduce the stress and strain that comes with the job, you can hire professional management companies to do the job for you.
Why Hiring a Professional HOA Management is Beneficial
The duties of an HOA management company range from improved access to community management experts to serving the community at large. Simply put, finding a good management company benefits both the HOA board and the community.
Some of the benefits that come with employing such services include:
1. Offers Professional Expertise
In some cases, the Homeowners Association board members may not be qualified enough to make key decisions in some aspects. However, by hiring a professional HOA Management Company, you get certified professionals who can be trusted to make accurate and lawful decisions.
These professionals continue to learn the latest trends and take up more educational courses to better how the community runs. The professionals are aware of all the latest developments in the community association industry.
2. Guaranteed Consistency
HOAs have their own rules and regulations. However, ensuring that the rules are followed can be a challenge for board members. There may be plenty of hindering factors such as sensitivity and uncomfortable scenarios with their counterparts.
Management companies only care about enforcing the rules, regardless of how anybody else will feel. As long as a policy has been passed and rules are set, a managing company will ensure that they are enforced fairly and consistently.
3. Managing Companies Save a lot of Time and Effort
Many board members volunteer to be part of the community initiative- they get satisfaction from it. However, these board members have a lot of things going around them. For instance, they have their families to take care of, careers to build, and other personal interests. As such, it is very hard to be productive as a board member.
Fortunately, finding the right managing company can save the community from a lot of stress and trouble. Even though the contract between the board and the management company usually varies, the latter performs very many basic functions, including:
- Managing community projects
- Contract and vendor management
- Administering insurance
- Preparing the budget
- Billing and collections
- Solving disputes among members
- Setting and conducting professional meetings
4. Handle Legal Matters
It would have been nice if the elected HOA boards have a member who is conversant with the law from a professional perspective. However, this is not always the case. By hiring an HOA management company, you have this covered- most of the HOA community managers are familiar with how the law works and how the court makes its decisions.
5. Helps to Expand Your Connections
Running such an organization requires the involvement of the whole community. You need to bring different aspects such as landscaping, lawn maintenance, condominium building, and management together for a common purpose. Nobody does that better than an HOA management company.
6. Accounting is Sorted
Maintaining the financial stability of the HOA board is very critical to its success. Given the stakes at hand, hiring an HOA Management Company ensures that the books are in check. High-skilled accounting professionals will account for everything that needs to be done.