Important Things HOA Property Management Companies Can Do for Your Community

Important Things HOA Property Management Companies Can Do for Your Community

Do you spend your free time digging through paperwork, trying to find new ways to help your HOA community thrive? Unfortunately, there aren't enough hours in a day to volunteer and enjoy living in an HOA. You don't have to do it all alone!

Instead, consider hiring an HOA property management company. Their professional services can save you time and stress.

On the fence? Read on to discover how property managers support HOA communities today!

Financial Management

Maintaining the community's financial health is essential to its success. If your board members don't have a background in accounting, you need to hire a property manager.

An experienced association management company can help with:

  • Executing financial tasks
  • Creating an annual budget
  • Maintaining records

They can use state-of-the-art software to ensure accuracy. Unfortunately, 64% of HOA residents don't believe their board honestly handles the finances. Your property manager can act as a neutral third party, which could help everyone feel more comfortable.

Policy Enforcement

As a board volunteer, you likely don't feel comfortable telling friends and neighbors when they're ignoring policies. Your HOA manager will review your covenants, conditions, and restrictions. They'll ensure all residents comply with these policies.

Enforcing these policies can make the community a fair and therefore better place to live.

Vendor Coordination

It's important to complete maintenance projects right away. Maintaining your community can make it a more desirable place to live. The property value could increase if your community is stunning and properly maintained.

Your association management team can find the best vendors in the area. They'll gather competitive bids to ensure you get the best prices.

Experienced property management companies already have connections with local vendors. They'll know which contractors are reliable and trustworthy. Having to screen contractors on your own can become time-consuming.

When there's an issue with the property, that's time you can't waste!

Your association manager will coordinate vendors and act as the primary point of contact. Leveraging their professional connections will save you time and money.

Office Duties

There are about 2.5 million community association board and committee members in the US. They complete about 98.5 million hours of volunteer service every year. Without help, your volunteers could experience burnout.

Unfortunately, important tasks could be delayed without efficient processes in place. Your community members could get frustrated.

Your HOA management team can handle daily administrative office duties, including:

  • Coordinating board meetings
  • Answering phone calls and emails
  • Creating and maintaining reports
  • Planning events and agendas
  • Assisting with the budget

Allowing a property manager to handle these tasks will ease some of the burden. Meanwhile, your volunteers can spend more time enjoying living in an HOA.

Hire an HOA Property Management Company

Managing a community alone can become stressful and time-consuming. Instead, consider hiring an HOA property management company this year. These are only a few ways they can support your volunteers.

Want to learn more about how HOA management can benefit your community? PMI Essential has nearly 20 years of industry experience. Contact us today to schedule a consultation!