The United States Census recently released data showing increased HOA property managers. In 2021, 82% of new homes sold were in an HOA, up from 55% the prior year.
One reason for their rise in popularity is that they impact the value of a resident's property. By maintaining the community and keeping it beautiful, property values increase. Everyone in HOA communities benefits from association management.
Besides keeping the neighborhood looking its best, HOA management companies tackle many items. They have significant responsibilities for their residents. Here are some of the most important.
Billing and Collections
HOA property managers serve as the third party who handles billing and collecting payments from those living in an HOA. Even the residents of HOA communities can fall behind on association dues. Association management has the responsibility of aggressively collecting delinquencies.
Enforcing the Rules of HOA Properties
HOA communities have CC&R, which stands for covenants, conditions, and restrictions. The Board of Directors decides on community policies. HOA management companies are the ones who enforce compliance by its residents.
Manage Vendors
Living in an HOA means having vendors. The community needs help with landscaping, snow removal, and cleaning common areas. They hire vendors to assist with maintenance tasks.
There is more to managing an HOA than vetting the right community vendors. The property manager oversees contracts and terms.
HOA property managers assist with negotiating contracts and soliciting competing bids. Plus, they ensure the community can afford payment for a vendor's services. The manager is the primary contact for vendors to reach out to.
Manages the Site
Vendors can help keep common areas tidy. However, you need a property manager to walk the grounds and check for cleanliness.
HOA management companies are ultimately responsible for the community's maintenance. They must implement new rules to keep the association looking its best if required.
Reduce Risk
You need a community advocate who can assess potential liabilities of the future. Mitigating potentially expensive lawsuits is vital to preserving homeowners and their properties. This requires maintaining appropriate levels of insurance coverage.
Communicating With Residents
HOA property managers are responsible for sharing information with the community. They must also ensure that information is easy to access. Details should always be up to date. A recent example is the safety protocols that arose from Covid-19.
Further, the property manager will directly answer the concerns of a homeowner. The property manager must communicate succinctly by phone, email, or face-to-face.
The Importance of HOA Property Managers
The services that HOA property managers provide residents are essential. It is what keeps the community beautiful.
Property managers also handle billing, collections, and communications. They enforce rules and regulations.
There is a lot to love about association management, especially when you choose the professionals at PMI RGV to assist you. That's because we understand that your community is unique. Therefore, we customize our services so that HOA communities like yours can feel assured their needs are met.
When you want the best for your association and its residents in McAllen, Texas, you need to contact PMI RGV immediately.
