About 25-27% of people in the US live in private communities governed by housing associations.
There are various benefits to living in such an area. Beyond your own home, the surrounding community can benefit greatly from organized management. It will ensure the shared community property is kept in a good state through smooth operation.
To find out more about how HOA management companies can help your community, keep reading.
You may be happy maintaining your own home, but it isn't your responsibility when it comes to the surrounding area.
An HOA management company can take care of any maintenance and repairs for communal property. This typically includes things like parks, swimming pools, and the overall landscape.
Sometimes this will be to amend anything that's damaged. It can also include updates for anything that's outdated, or simply to improve aesthetics.
There are all kinds of administrative tasks that HOA management companies can help with.
This includes maintaining records, taking meeting minutes, managing community mailings, and drafting agendas.
All of this can help to relieve board members and give them more time to focus on other crucial tasks.
Manage Finances for the Community
An HOA manager can deal with various financial records and accounts for the community. Some typical tasks include:
- Billing residents
- Collections support
- Collecting dues
They can also handle financial issues that arise. This could be issuing delinquent notices to residents, for example.
Enforcing Community Policies
There will be certain policies and regulations in place that residents need to follow.This includes specified covenants, conditions & restrictions (CC&Rs).
An HOA management company can inform people of what these are and enforce them throughout the community. They'll then take necessary actions if any of these rules are violated.
An HOA management company can liaise between community members and the HOA board. They can provide things like updates on meetings, events, and other news.
This also extends outside of the community as they can communicate with service providers and vendors. Doing this will help ensure everyone stays up to date with everything that's happening.
Aside from managing the community as it is currently, an HOA management company can help with long-term plans for the future.
This will align with any goals or objectives your community has. They can develop a plan alongside the HOA board that will help guide the community in the right direction.
Beyond a community's internal policies and regulations, there's legal compliance that needs to be followed.
HOA management companies have a lot of experience in this area, so they can help ensure your community sticks to all state and federal laws, regulations, and ordinances.
HOA Management Companies Helping Communities
HOA management companies can help keep communities organized and well-maintained. They have the experience and knowledge to take care of all kinds of tasks, ensuring your community flourishes.
PMI Chi-Town is a full-service property management company based in Chicago. We offer a range of other services including professional HOA management.
Take a look at our Property Management page to find out more about what we do.