If you live in a condominium or vacation home community, the homeowners association (HOA) is the governing body that regulates the neighborhood. These HOA board members are unpaid and don't generally have skills or experience in these fields.
Tampa Bay area HOA community members pay a median of $340 per month in HOA fees. In paying these dues every month, HOA members rightfully expect high performance and improvements to the place that they call home.
Professional HOA management services help HOA boards do their job better so that everyone wins. Here's how HOA management services can make a difference for your community.
It Simplifies the Process
When participating in an HOA board, there are a series of meetings and protocols that must be followed. The homeowners association has its own form of a charter that outlines the rights and responsibilities of everyone involved. By working with an HOA management company, these details will be hashed out in the most organized way possible.
This keeps the HOA manager and board members on track and helps them make the important decisions that affect the entire neighborhood. Managers will offer support, oversight, and expertise that will make sure meetings are run efficiently and progress is made.
HOA Management Brings Resources
What HOA board members lack in experience, a team of management professionals makes up for. For starters, these management companies often have legal resources that they can lend to the board. Having another set of eyes on legal documents is crucial when entering into any kind of contract. They will be able to protect the rights of the board while doing legal research before making any significant changes.
They often also have certified public accountants (CPAs) on staff that can assist with financial issues. Since the board is responsible for managing all funds, having accountants at their disposal helps exponentially.
They Add Transparency
Having quality managers by your side keeps everybody in the loop. Whenever a property owner pays HOA fees, they rightfully want to know where they are going and how they are helping the community. HOA management professionals will help you provide documentation and presentations to members so that they are always up to date on HOA issues.
Property management professionals can also help you stream and broadcast meetings and archive all of your documents and data. Residents will feel more peace of mind paying their dues knowing that everything is accounted for and that they have access to what decisions are made and how they come about.
They Assist With Compliance
It's never easy managing groups of adults and levying penalties. However, it is necessary so that rules are abided and structure is maintained.
HOA property managers take on this role so that board members don't have to deal with this pressure or worry about the ire of the community or anyone in it. When compliance is maintained, the community is run like a well-oiled machine, which also protects the integrity of the homeowners association.
HOA Management Services Made Simple
HOA management services can pay off for your community in so many ways. The only thing left to do is reach out to HOA managers that can assist you.
Property Management Inc. (PMI) Tampa Bay can assist you with all your HOA management needs. For more information on what we offer and how it can help you, reach out online or by calling 352.686.0810.
