Almost a third of Arizona's homes are in HOAs, which is among the highest rates in the country.
If you live in an HOA, you expect to enjoy a certain standard of living. That often comes down to how effective your HOA board is in handling money, attending to maintenance, and developing new amenities.
When your HOA isn't living up to its promises, bringing an HOA management company on board might be a good idea. Today, we'll tell you what services HOA managers bring to the table, so read on and decide if your HOA could use new management.
Overseeing Finances
Among the most important of the HOA company's responsibilities is accounting. As a member of the homeowners association, you pay monthly dues. These payments are used to cover expenses relating to the HOA, such as ongoing maintenance of common areas and repairs to amenities.
Money should also be set aside to pay for improvements to the community, whether it's new sidewalks or a swimming pool. Being able to arrange all of these things requires careful budgeting. An association manager with HOA management software will be able to keep a clean budget that allows for everything a community needs.
Coordinating Maintenance
When you start comparing an HOA board vs. a management company, you have to look at their ability to coordinate daily operations. Maintenance of common areas in the community is something that needs to be done regularly to maintain and boost property values.
A management company will have relationships with vendors that HOA volunteers on the board just won't. They'll be able to negotiate more favorable contracts that ensure common spaces are being looked after, from landscaping to garbage disposal.
Upholding Regulations
Anytime you gather dozens of homeowners in one community, you're bound to have some conflict. A lot of times, conflicts in HOAs come down to how the regulations are being treated. When you live in an HOA, you agree to live under a certain set of rules and regulations.
There are always going to be people who don't think the rules apply to them. HOA management company rules are enforced by your property manager. Conflicts will be mediated and the community will experience more harmony as a result.
Holding Meetings
Communication is a big part of any successful HOA. You've got two main types of meetings: annual meetings for all homeowners and board meetings with the top decision-makers. Having an HOA management company overseeing these meetings will lead to more effective plans of action.
During annual HOA meetings, they'll ensure any questions and concerns homeowners have are addressed. As far as board meetings, they'll use experience and expertise to ensure the most important issues are being dealt with.
Get the Best HOA Management Company in AZ
Now that you can see how integral an HOA management company is to the success of your community, it's time to tell you about the best option. At PMI Camelback, we specialize in helping Phoenix-area HOAs with everything we've discussed here and more.
To learn more about what we do and inquire about HOA management company costs, don't hesitate to contact us today.
