According to the Community Associations Institute, as of 2024, 1.65 million people in Ohio live in community associations. Over two-thirds (68%) say their association's rules protect properties and boost their values. No wonder 67% rate their living experience as positive!
Many of those communities have achieved success with the help of an association management group. So, to enhance your association in Columbus, OH, consider partnering with one, too.
To that end, our team at PMI Scioto Metro has compiled this guide, which shares insights into community management services. Keep reading to learn how efficient property management solutions can transform your community.
Financial Management
Association management groups, comprising HOA management experts, offer tailored financial management services. They provide property owner advice and board member support for complex financial landscapes. Some of their duties include the following.
Budget Preparation and Planning
An association management group assists communities by:
- Crafting actionable budgets that reflect community needs and future goals
- Analyzing past expenditures
- Projecting future costs to ensure associations allocate resources wisely
Financial Reporting and Analysis
Regular reporting is vital for monitoring an association's financial health and performance. Managers provide detailed monthly and annual reports, highlighting the following:
- Income
- Expenditures
- Variances
Such documents facilitate strategic discussions during board meetings, fostering alignment around financial priorities.
Account Receivable and Collections Management
Sustaining property management operations relies on the timely collection of HOA fees. Association managers help by:
- Sending property owners reminders about their HOA fees
- Following up on late payments
- Ensuring all members understand their financial duties
Reducing delinquencies in an association stabilizes cash flow and protects property values.
Maintenance Coordination
As the National Association of Realtors (NAR) explains, homes with HOAs are often worth 5% to 6% more than comparable houses without HOAs. HOAs, after all, offer many on-site amenities, from fitness centers to parks. However, their maintenance policies also contribute to their member homes' higher perceived values.
An association management group specializes in effective maintenance coordination to enhance property value and resident satisfaction. They employ skilled experts to oversee maintenance tasks, such as:
- Landscape management to boost curb appeal and outdoor aesthetics
- Repairs and renovations to prevent minor issues from worsening
- Preventative maintenance, such as regular facility upkeep and servicing, to keep unexpected failures at bay
Association Rule Enforcement
Managers help associations maintain order by enforcing the community's rules. Some examples of how they achieve this goal include:
- Maintaining clear communication with all community residents
- Keeping everyone informed through handbooks, orientation sessions, and regular newsletters
- Addressing violations with a structured process (e.g., providing a written notice about the issue and the necessary steps for compliance)
- Collaborating closely with board members
- Using management software to track violations, send reminders, and communicate efficiently with homeowners
Partner With an Association Management Group
Partnering with an association management group can unlock your Columbus community's potential. With their help, you can streamline operations and boost property value. Most importantly, they can elevate residents' overall quality of life.
Join countless satisfied residents today and reach out to our team at PMI Scioto Metro. We're a proud member of PMI, a trusted national brand with over two decades of property management experience and manages 100,000 units. Our owner, Adrian Birchler, is a seasoned, licensed Ohio Realtor and a Certified Manager of Community Associations (CMCA™).
