Running a harmonious HOA or homeowners association is like trying to keep a symphony in tune. If one instrument plays poorly, it ruins the entire performance.
What if your marketing falls flat? What if your tenants get sharp with each other?
The best solution is to hire a professional to conduct it all. Read on for five reasons to hire a Los Angeles association management company.
1. Expertise
Professional association management companies have a team of experts who can provide a range of services.
They can handle administrative duties such as setting up meetings and keeping records. They can also handle financial responsibilities such as budgeting and accounting.
They have expertise in local and state laws. This keeps your community compliant and prevents major legal repercussions.
They also have contracts with other expert service providers. Their relationship with these vendors helps you get landscaping and maintenance done properly.
2. Saving Time and Money
An association management company handles the daily responsibilities of running the community. They know how to do it in efficient and cost-effective ways, saving time and money.
This also gives HOA board members more free time. They can use it to improve the community and focus on other priorities.
3. Increased Community Satisfaction
A recent survey showed that most homeowners are satisfied living in HOAs. 66% of residents rate their overall experience as very good or good. Hiring a manager can help raise these numbers even higher.
They can give you access to special HOA systems technology to track member engagement and satisfaction. It gives you insight into what you can do better.
A satisfied community is also a profitable one. Residents will be more likely to pay dues on time if they're enjoying life in the HOA.
4. Easier Enforcement
An HOA management company knows which rules are enforceable and unenforceable. Everyone gets a rulebook they can accept, and no one gets in legal trouble.
They'll enforce the rules fairly and efficiently. They can handle common violations before they begin to affect the entire community.
That doesn't mean the board members have to give up control. They still have the final say in all decisions. An HOA manager gives them the space and time to make them without being overwhelmed by daily duties.
5. Better Property and Community Value
Hiring an HOA management company is an investment in your community's value today and in the future.
It improves your professional image. Tenants will be attracted to a community known for being well-run. That decreases the number of vacancies you'll end up with.
It also improves HOA home value. Proper upkeep and attractive amenities make homes more attractive to renters and buyers.
Where to Find an Association Management Company
There are many benefits to hiring an association management company.
Their expertise will save you time and money. You'll have an easier time enforcing the rules and a more satisfied community. The value of the community and its homes will also increase.
PMI LA Pacific provides professional community and association management services. We treat every community as a valuable asset. Our job is to help you maximize its profitability by setting the maximum rent each month.
Contact us to see how we can help your community grow today.
