Home Improvement

Five Ways HOA Management Companies Can Change the Game for the HOA

HOA leaders who want to successfully manage the association need to take their responsibilities like a full-time job. They should handle the business affairs of the corporations they manage as well as the wants, needs, and satisfaction of communities. Unfortunately, this level of responsibility is greater than what the majority of HOA volunteers can handle. That is why most HOA boards will choose to hire phoenix hoa management companies to lighten the load of HOA responsibilities. 

A lot of homeowners’ associations are composed of volunteer board members. These volunteers may have full-time jobs and family duties to attend to. Because of this, managing an HOA can be overwhelming for them. Thus, using the expertise of an HOA manager can change the game for the HOA board. Here’s how an HOA management company can make a significant difference in how HOAs can be managed.

Navigating Different Community Situations Expertly

Once hired, a skilled manager will be assigned to serve as the community’s main contact. Also, the manager is often a community management expert. They have extensive experience in navigating different kinds of community situations. In addition, the company will choose a manager who can communicate effectively. The manager will coordinate board meeting scheduling, offering monthly reports, and enforcing community rules. They also guide the board through annual budget meetings and respond to questions from property owners.  

Managing the Association’s Accounts Receivable

HOA managers are responsible for collecting HOA dues, including delinquent accounts. Thus, an HOA with difficult tenants who fall behind on their dues can depend on an HOA manager for collection.  Moreover, a great manager keeps up-to-date with state laws regarding collections and delinquent accounts. 

Managing Community Sites

An HOA management company oversees site management and keeps the community in its top shape. This minimizes the risk of properties reducing in value over time. Additionally, the manager has in-depth knowledge of the association’s upkeep rules. They visit and inspect the site regularly. 

Offering Accounting Services

An HOA manager is tasked to report and handle HOA budgets. They manage community bank accounts, review monthly billing and dues, as well as estimate maintenance costs. HOA directors can rely on the manager to create financial statements and offer financial guidance.  

Enforcing Rules and Policies

A great manager will look for ways to create a functioning community. They enforce rules and policies that can help improve the community’s value. Also, they involve homeowners in all community relations to give them opportunities to contribute to the creation of a strong community.