As an HOA, your responsibility to your community and its residents is quite serious. Residents rely on homeowners associations and condominium associations to maintain standards and help ensure safety and security. At the same time, community associations must adhere to by-laws to ensure legal grounds to operate as they do. A property management company helps enable an HOA to meet all these challenges in the following ways:
Staying in Legal Compliance
Even if you are the world’s best community association, there will inevitably be occasions when certain legal difficulties may arise. It is a complicated process that can be confusing, especially because every town and city has various legislation regarding HOA communities. Your association needs to always remain on top of legal constraints. You can help to ensure your by-laws and decisions are in compliance with existing laws and regulations by making sure you have a well-trained and competent property management company handling things for you. Subsequently, your association can remain in good standing with legal authorities.
Maintenance of Common Areas
You obviously cannot be expected to be actively involved in the care and maintenance of common areas in your community. It’s just too big of a job. A reputable property management company can be an invaluable asset in this regard, and significantly ease your job as a member of an HOA. Your property management company can fulfill two essential roles in this regard: taking care of plumbing or electrical repairs, maintaining the community’s common areas, or maybe attending to the construction of a new roof on a community recreation facility. First, the property management company can ensure that these tasks are finished on schedule. Second, your property management company will interview prospective contractors to determine whether or not they have the necessary skills, credentials, and insurance coverage to complete the job at a fair price. All this can be done while you and the rest of your HOA team are overseeing other important duties related to your responsibilities as a community association.
Financial Controls
As an HOA Association, you know how crucial financial accountability is. Your community residents rely on you to make sound fiscal decisions and to be accountable for the financial choices you make. Your qualified property management company has financial controls in place that put you in the driver’s seat and provides detailed reporting services to ensure integrity and trust.
Community Trust
Finally—and perhaps most importantly—your interests as a community association are safeguarded when you use a property management company, because of the community trust it helps nurture. An added benefit is that residents are more likely to trust your decisions and have faith in your governing abilities, keeping your well-deserved positive reputation as a productive community association intact.
Choose a property management company with years of experience helping HOA associations just like yours. We are ready to serve your needs as a leader in your community association. Contact us today to learn more.
