Almost 74 million Americans live in homeowners associations in 2024.
If you're one of these homeowners, you may wonder why your community isn't giving you the perks other communities give their members. Every HOA is different, and how yours runs depends on the leadership of your board of directors.
A failing HOA needs help from community association management. In today's post, we'll tell you what HOA management does and what working with one will be like. Keep reading and find the right HOA management company to help your community.
Community Finances
One of the most important aspects of HOA management is accounting. They do everything from collecting HOA dues from all homeowners to creating actionable budgets that put the community in a position for success.
Most HOA communities have a treasurer who handles accounting duties. If your treasurer isn't an accountant, they might have trouble balancing the books with so much money coming in and going out.
Money mismanagement in an HOA results in sinking property values and rising HOA dues. Get a professional management service with a financial planner on staff and the community's books will be balanced.
Governance and Compliance
Every HOA community has a set of rules and regulations called the "governing documents". These outline rules around everything from renting property and owning pets to landscaping and quiet hours.
Trying to govern a few dozen homeowners with a set of HOA rules is never easy. There will always be rule breakers and it's the HOA board's responsibility to punish these people. That said, it can create an uncomfortable power dynamic in the HOA when some homeowners have authority over others.
HOA managers act as an impartial third party, issuing penalties and fines whenever necessary. They'll keep rule breakers in line to create more harmony in the community.
Community Maintenance
HOA maintenance is essential for the desirability of the community. When an HOA is well-looked after, property values will stay high and the community will prosper. If your HOA board doesn't prioritize vendor coordination, maintenance will be overlooked and the community will fall into disrepair.
An HOA manager comes to the table with built-in vendor relationships. Whether your community needs weekly garbage removal or seasonal landscaping, HOA managers ensure maintenance is always on schedule.
Running Meetings
In the end, communities must decide their future. A lot of these important discussions are conducted at HOA meetings. An HOA manager can help facilitate these meetings and make sure every homeowner's voice is heard.
When important decisions are made, the HOA manager will use their expertise to turn plans into action. Whether it's amendments to governing documents or a new playground, they'll ensure the community's wishes are always fulfilled.
Get Community Association Management in Teton Valley
Working with community association management will turn your HOA around. There's nothing easy about running an HOA, but with an HOA manager, the difficult aspects are simplified. Don't let your Teton Valley community go any longer without professional help.
PMI Grand Tetons is part of a top HOA management company in the country. Contact us today to learn how we can help your community thrive.
