What Is HOA Management?

What Is HOA Management?

Nearly 30% of Idaho's entire population resides in a home owners association.

As an HOA member, you should experience a set of perks. It could be well-maintained common areas or a variety of community-centric amenities just steps away. If you're not experiencing any benefits from your HOA, you need to think about making some changes to HOA management.

In today's post, we'll look at the role of community association managers. These HOA professionals are capable of leading failing communities out of the darkness, so keep reading and learn just how they do this.

Accounting Duties

Every homeowner in an HOA pays monthly HOA dues, which are pooled together to pay for everything the community needs. They pay for community maintenance, repairs, and new amenities of the community's choosing with enough left over to cover any emergencies that might arise.

Most HOAs are run by a volunteer HOA board of directors with a treasurer taking care of the accounting duties. Looking after this amount of money requires a professional accountant.

Community managers have financial experts on staff to look after your HOA's money. The result of good money management is a more lucrative community with high property values and low monthly dues.

Governance and Compliance

All HOAs abide by unique governing documents that outline the rules and regulations that homeowners need to live by. They include rules about pets, parking, noise, renting, and a variety of other problems unique to a given community.

Whenever you've got 50 or more homeowners living under one set of rules, problems will arise. It can be awkward for the HOA board to enforce rules, as it creates an uncomfortable power dynamic. Not so for an HOA manager, however.

They'll act as an impartial third party, issuing penalties to bad actors and diffusing conflicts between homeowners. The result is a more harmonious and happy community.

Vendor Coordination

Community maintenance is an important perk of HOA living. Things like garbage removal, street cleaning, and landscaping are just a few examples of regular maintenance in an HOA. Having this done well comes down to vendor coordination.

Association management will enter the fold with existing vendor relationships. Whatever your community needs, a great local vendor will be one call away. This is opposed to the way it is with overworked HOA boards who may overlook certain aspects of vendor scheduling.

Without regular maintenance, it's easy for a community to fall into disrepair. A well-maintained community will make it a more desirable place to live, which will increase property values, benefitting everyone.

Get the Best Community Association Managers in Teton Valley

If you live in a Teton Valley HOA, it's time to get the best community association managers available. Doing so will change the way you think about your community.

PMI Grand Tetons is part of one of the largest property management firms in the country. We offer comprehensive HOA management services, including everything we discussed here. Contact us today to learn how we can improve your Teton Valley HOA in 2024 and beyond.