In many cases, people prefer to live in HOA communities for the various benefits they offer. Buyers will pay 4% more on average for a home that's subject to an HOA.
While homeowners associations can do a lot to benefit residents, they often can't keep up with all of their responsibilities. Many HOA boards decide to hire a homeowners association property management company. They can assist with a range of tasks to help keep everything running smoothly.
Let's take a closer look at what an association manager can do for your community. Keep reading for more.
Communal Area Maintenance
Residents of an HOA community are responsible for maintenance within their own homes, but the HOA board should oversee the maintenance of any communal areas. This often includes things like pools, clubhouses, and gyms.
An HOA property manager can take care of this, seeking out and hiring contractors and other service providers when needed. They tend to maintain good relationships with relevant companies, so they can often get good prices for a range of services.
They also organize things like landscaping and trash collection. All of this helps keep the neighborhood in good shape. It can also help improve property values which is ideal for any homeowner.
Accounting and Finances
Dealing with finances is one of the more complicated duties of an HOA board. These boards are typically made up of community volunteers, and it's uncommon for any of them to have relevant experience in dealing with accounts and finances.
Association managers are fully trained to be able to handle this. They can take care of any financial matters professionally and correctly.
This helps reduce the risk of errors, and they may even be able to identify areas where the community is overspending. They might then come up with solutions that can help reduce expenses.
Legal Assistance
This is another very complicated area that most HOA board members can have trouble with. A professional HOA manager will typically have a much more in-depth knowledge of relevant laws. You can take advantage of this if any legal issues arise and they can give you reliable guidance when needed.
Policy Enforcement
The HOA board is responsible for setting certain policies for the community that all residents need to follow. Establishing these policies generally isn't too difficult, but things can become a bit more complicated when it comes to enforcing them.
This is because HOA board members usually know many residents personally. As such, they might not feel entirely comfortable enforcing policies on people they may consider friends.
Association managers don't have the same personal relationships with residents. They can, therefore, enforce policies without any kind of bias. This will help ensure everyone follows the rules and keeps things fair for everyone.
Hiring an Association Manager for Your Community
Your Columbus HOA may find themselves struggling to keep up with all of their responsibilities. An association manager can assist with tasks like maintenance, finances, and policy enforcement. They may even provide legal guidance when necessary.
PMI Scioto Metro can provide association management to communities in Ohio. We also offer various other property management services for HOA board members, homeowners, and real estate professionals. Take a look at our association management page to see more about what we can do for your community.
