If you're one of the 26% of Americans living in an HOA, you may be wondering why yours isn't functioning at a high level.
HOA living is supposed to bring a set of benefits to all members. These include higher property values, fewer maintenance responsibilities, and access to countless community-wide amenities. When you're not experiencing these benefits, you'll need to take it up with your HOA board of directors.
The only problem is that you're at the mercy of the quality of your HOA board, which is made up of volunteer homeowners. If you want change, hiring an HOA manager is a great idea. Keep reading and we'll explain how HOA managers guide communities toward excellence.
Budgeting and Accounting
Chief among the responsibilities of a good HOA manager is looking after the community's finances. They'll take care of everything from collecting HOA fees from all members to budgeting for important maintenance and upcoming projects.
When you have professional accounting managing the community's finances, you should see an HOA-wide increase in property values. If an HOA is smart with its money, property values can be up to 4% higher than similar properties outside of the community.
Future Planning
One of the perks of living in an HOA should be continual development and improvements in the community. Making plans for the future is the responsibility of the entire HOA, but a good property manager will help turn these plans into a reality.
For example, if HOA members come to a consensus that there should be a public pool, and the budget allows, the HOA manager will arrange for it to be built. Having someone who can efficiently enact plans takes a huge burden off of your HOA board.
Caring for the Community
When you sign up to live in an HOA, you expect well-maintained common areas. From garbage pickup to road repairs, a community should never wait long for maintenance. This is one of the biggest red flags signaling an overmatched HOA board.
Property managers come with existing relationships with local vendors. Whatever your community needs help with, an experienced vendor is just a call away. Having access to professional maintenance will keep the community functional and attractive.
Governance
One of the difficult aspects of living in an HOA is dealing with rule breakers. All HOA communities have unique governing documents that tell homeowners what they can and can't do. Of course, there are always people who don't think the rules apply to them.
This creates friction between neighbors and general frustration in the community. It can be tricky for HOA board members to appropriately deal with delinquent members. An HOA manager, however, is an impartial third party who has no issue dishing out punishments and diffusing conflicts.
Get the Right HOA Manager for Your Phoenix Community
If you want to enjoy a successful community, you need an HOA manager. If you hire PMI PHX SW, you'll get the best Phoenix property manager there is.
We offer all of the services discussed here and more, so don't wait, contact us today and learn how to improve your HOA in 2024.
