Purchasing a home is a major investment, and homeowners associations are committed to ensuring that the needs of the community are met. By working together and pooling resources, HOAs provide amenities to residents, enforce rules to minimize disputes between neighbors and keep the neighborhoods surroundings well-maintained.
As beneficial as HOAs may be, handling the day-to-day responsibilities of managing a community while effectively communicating with its residents can be a difficult endeavor. The larger the community, the more difficult this task becomes for the HOA board to handle alone. This is why many turn to a professional HOA management company to manage operations and communication.
Teaming up with a HOA management company can seem daunting, especially to active and caring HOA members who love their community. HOA management companies do not set policies and rules, or determine what penalties will be imposed for non-compliance. Instead, they partner with HOAs to enforce the policies of the community and take on many of the tasks that can become overwhelming for community leaders. A good HOA management company understands the ins and outs of managing a community, has sound financial systems in place and can anticipate the needs of your HOA before a problem arises.
The Benefits of Working with a HOA Management Company
Making sure rules are being followed and fees are being paid can become a full-time job within itself. When HOAs, especially those for larger communities, take on this task it can become all-consuming, keeping them from focusing on the further development of their community. A good HOA management company will review policies to make sure they are legally sound and easy to understand, and continually work with your board to ensure these policies are up to date and benefitting all of the residents of your community.
HOA management companies also serve as fair and consistent enforcers. When a third party handles disputes, collects fees, deals with correspondence and enforces policies, it is more difficult to claim favoritism. Conflict can be dealt with in an experienced, professional manner without concern that interpersonal struggles between neighbors are influencing the response.
Management of vendors is another responsibility HOA management companies take care of. Maintaining positive relationships with businesses takes care and time, and a professional HOA management company will ensure your vendors are paid on time, and any issues that arise are resolved quickly. When your vendors are consistently performing, your community stays clean and beautiful and your homeowners’ needs are met.
Finding the Right HOA Management Company
When choosing a HOA management company to work with your HOA, it’s important to consider the following:
- Does the HOA management company have a good reputation within solid references from other communities?
- Do they have an “open door” policy that encourages open, transparent communication?
- How quick is their response time, in an emergency situation?
- Do they manage a diverse selection of communities with different needs?
- Do they have established relationships with vendors?
- What services do they offer?
- How do they manage their relationships with HOAs, and how well will the fit with the needs of your community?
- What is their pricing structure?
- What is their history of performance in working with HOAs like yours?
There are many facets to managing a community that HOA management companies must deal with on a daily basis. It’s a huge job, which is probably why you are considering working with one in the first place. As helpful as HOA management companies may be, poor management can lead to a host of ongoing problems for communities. It’s perfectly acceptable to evaluate several HOA management options before your HOA makes a final selection.