6 million Texans live in homes governed by community associations.
If you live in an HOA, you know there are good and bad things about it. Living in an HOA should afford you a high quality of life with well-maintained common areas and amenities. If your volunteer community leaders aren't equipped for success, however, your community will struggle.
Today, we'll discuss the role of community association management companies and how they can support your association and HOA board. Read on, and you'll see how a bit of professional expertise can transform a community and life for all HOA members.
Better Accounting Practices
One of the benefits that HOA members should experience is higher property values. On average, HOA properties are 4% more valuable than similar properties outside HOA communities. Many factors make this possible, but good money management is chief among them.
If your HOA treasurer isn't good with money, the HOA dues that everyone pays won't go as far. Maintenance will suffer, and there won't be room in the budget for community improvements. The community will suffer, become less desirable, and property values will go down.
An HOA manager has experienced accountants on staff. They'll create smart budgets, collect fees, and do bookkeeping so that your community thrives financially.
Governance and Compliance
Every HOA has its own set of governing documents that outline the rules and regulations of the community. Having dozens of homeowners living under a set of rules can sometimes lead to dissension and conflict.
It's important to remember that your HOA board is made up of volunteer homeowners. This creates a strange power dynamic when it comes time to issue penalties for rule violations.
Having an impartial HOA manager makes all the difference. They'll ensure compliance by punishing wrongdoers and settling conflicts. The result is a more harmonious community overall.
Vendor Coordination
Community maintenance is a crucial component of an attractive HOA. A well-managed HOA has all of the important regular maintenance taken care of. Things like garbage collection, landscaping, and roofing are all common needs for community associations.
It all comes down to vendor coordination. If your HOA board doesn't build solid relationships and contracts with local vendors, it's easy for maintenance to fall by the wayside.
An HOA manager will bring existing vendor relationships into your community. All of the most important regular tasks will be taken care of, and any emergency repairs will be a call away.
Planning for the Future
Another thing that HOA managers bring to the table is organization. HOA meetings are where important matters are discussed by the entire community.
Using years of experience, an HOA manager can help your board run effective meetings. All HOA members will have their ideas and concerns heard. Once consensus is reached regarding new developments or changes to governing documents, an HOA manager will put plans into action.
Community Association Management Companies in Dallas
It's easy to see how community association management companies can help your HOA. If your Dallas community association is leaving a lot to be desired, PMI Nortex Properties can help.
As a full-service HOA manager, we offer all the services discussed here and more. Contact us today to learn more about what we do and how we can make your HOA thrive.
