As it stands, there are more than 358,000 managed communities in the US.
These communities are typically considered very desirable places to live. Homeowners associations take on various duties that all residents can benefit from.
However, these duties can be quite involved, and many HOA boards have a hard time staying on top of things. A community association management company can be invaluable here.
Let's take a look at some of the ways in which an association property management company can help your community.
Common Area Maintenance
HOA communities often have various common areas. These include things like parks, pools, clubhouses, and more. Residents are free to use these facilities at their leisure.
The HOA is responsible for keeping these areas in a good state. An association manager can organize routine maintenance and repair work as needed. This ensures common areas are safe and fit for use at all times.
They have plenty of experience with maintenance coordination so will have no trouble with this. They also tend to have good relationships with contractors and other businesses. As such, they can always find the right person for any job, and may even be able to get better deals.
Administrative Support
Companies that offer HOA management services can take on any administrative duties that fall to HOA boards. While these are often not the most complicated tasks, they can take up a lot of time.
When an association manager takes these on, the HOA board will have more time available to them. They can then prioritize more important tasks to further benefit their community. Some typical administrative tasks include:
- Insurance administration
- Record keeping
- Organizing HOA meetings
- Managing contractors and vendors
- Contract negotiations
Policy Enforcement
All HOA communities have policies for all residents to follow. The HOA board can establish these without too much difficulty, but enforcing them may not be so simple.
HOA board members are volunteers from within the community, so they typically have personal relationships with other residents. If someone breaks the rules, they might have some trouble reprimanding them.
This isn't an issue for association managers. They can act without bias to make sure things are fair and equal for all residents. Ultimately, this will reduce the risk of disputes and help keep everyone happy.
Financial Duties
An association manager can provide reliable association financial services. Managing finances is very complex, and often beyond the skills of HOA board members. They may not have suitable experience, and this can result in a lack of efficiency and costly mistakes.
An association manager can help organize budgets, optimize spending, collect HOA fees, and more. Effective handling of finances will help keep expenses efficient so a community can get the most out of the finances it has.
Working With a Professional Association Property Management Company
An association property management company can offer a range of services and property management tips to benefit your entire community. PMI Tampa provides professional association management services throughout Tampa, FL.
We're a part of PMI, the fastest-growing real estate asset management company in the US. We can use our vast experience along with the latest technology to help your community succeed.
Check out our association management page today to see more.
