Homeowner associations are booming in the United States. They have become common in new neighborhoods and are proving to be great assets for people who want to live in great areas. That's why it's no surprise that 75.5 million Americans now live in HOAs run by community association managers.
But what exactly is HOA management, and what does it offer to its members? Read on below to learn the answer.
What Is Homeowners Association Management?
An HOA is an organization that oversees the activity in a community. HOA board members volunteer their time and take on responsibilities for the area's maintenance. These items include finances, maintenance, landscaping, code enforcement, and more.
HOA management is the process an HOA board goes through to manage everything. It includes their everyday activities to keep the community running and in great shape.
Why Use HOA Management?
It's true that an HOA does impose some restrictions on homeowners, so is it worth being in one? Here are the reasons why the answer to that question is yes.
Maintain Common Areas
One of the big plusses of an HOA is the common areas in a community. They have shared gardens, playgrounds, pools, clubhouses, and other amenities.
But those things also need maintenance. One of the primary uses of HOA dues is property maintenance. HOAs will coordinate with vendors to maintain the area.
Enforce Policies
Another reason homeowners like HOAs is that they maintain a minimum standard. Unlike non-HOA neighborhoods, property owners can't do whatever they want. The HOA rules work towards keeping cohesion in the community and prevent people from making changes that detract from the community.
HOA boards will hold meetings, work with residents, impose fines, and take other actions against people who violate the rules. This way, everyone follows the rules and contributes to a great place to live.
Finance Management
Good financial accounting will be one of the key things an HOA board manages. HOA dues are supposed to be for maintaining the community, so the board must create a budget to maintain the area.
HOA boards also work to build community reserves. There's always a chance of an unexpected problem, so funds must be available to address those issues. Otherwise, homeowners may see unexpected assessments or increased dues.
Manage Requests
Although there are many rules in HOAs, that doesn't mean homeowners can't make changes to their property. It just needs to go through the HOA if it may conflict with the rules or impact the community.
An HOA management board will review requests regularly to see if they are allowed. They will then approve or deny requests based on current codes and what's best for the community.
Work With Community Association Managers
An HOA is a great option for neighborhoods that want more structure and ensure that the neighborhood has a minimum standard. They offer rules, enforcement, and shared values for everyone in a community. Don't hesitate to reach out to experienced community association managers to get help running your HOA.
Do you have a homeowners association that you need help running? At PM Property Solutions, we offer several services or fully managed solutions for your HOA board. Reach out to us to talk to our expert community managers about how they can help.
