HOA Property Management: Ensuring the Success of Homeowners Associations

HOA Property Management: Ensuring the Success of Homeowners Associations

With millions of Georgia's homes being situated in HOAs, you'd think that community living would be more enjoyable.

There are more and more HOA horror stories cropping up every year, most of which are due to a lack of leadership from the HOA board. An HOA board is made up of volunteer homeowners with a vested interest in the success of the community. Unfortunately, good intentions only get you so far.

For a community to succeed, you need experienced professionals running it. In today's post, we'll explain the various ways that HOA property management enhances community living and ensures HOA success. Keep reading and you'll know exactly what you need to do to improve your community in 2024.

Accounting Services

HOA accounting is one of the things that can make or break a community. All homeowners must pay their monthly HOA fees, which are combined to pay for everything that helps the community function. If money isn't properly managed, the community will suffer.

An HOA property manager has professional accountants on staff to help get your HOA's finances in order. With smart bookkeeping and budgeting, HOA fees will go further and you'll see a notable difference in how the community is run.

Governance and Compliance

Every HOA in the country has unique governing documents that tell homeowners the rules and regulations of the community. The problem lies in trying to govern dozens of homeowners with one set of rules - you'll always have rule breakers.

Where governance can create an awkward power dynamic between the HOA board and the community, a community association manager won't have this issue. They'll issue fines to bad actors and diffuse arguments between homeowners. The result is a happy and harmonious community.

Maintenance and Vendor Coordination

HOA living is all about community maintenance. When you have a well-maintained community, you'll have happier residents, but you'll also have more interest from new investors. With this uptick in interest, you may see higher property values - sometimes as much as 4% higher than non-HOA homes.

To maintain a community, you need good vendor relationships. Local vendors, such as garbage collection and landscaping, are the backbone of any community association. An association management group comes with built-in vendor relationships that'll ensure your community is looked after.

HOA Meetings

HOA meetings decide the direction of a community. They bring together leadership and homeowners to discuss important matters. If you don't have organized meetings, your community will grow stagnant.

HOA management can run such meetings. They'll ensure that all homeowners get a chance to voice their opinions. Furthermore, they've got the expertise to enact whatever the community decides in these meetings.

Get the Best HOA Property Management in Jefferson

Now that you know what HOA property management brings to the table, it's time to tell you about the best services in Jefferson. PMI 23 East is among the top property managers in the area, offering everything mentioned here and more.

To learn how we can take your HOA community to new heights this year and beyond, contact us today.