With 35% of all homes being in HOAs, California has the most community associations in the country.
If you live in one of these HOAs, you could be wondering why those governing your community aren't doing a better job. Most communities are run by an HOA board of directors, many of which are comprised of inexperienced homeowners.
To bring a degree of professionalism to your HOA, you need community association management. In today's post, we'll explain what these services include and how they offer strategies for effective community governance. Keep reading and take your community to new heights in 2024.
Governance and Compliance
Every successful HOA has a set of governing documents that all homeowners must live by. Some have rules around rentals in the community, while others have regulations around property landscaping.
Whenever you're trying to govern an entire community of homeowners, you'll have to deal with those who violate the rules. This is one of the areas in which HOA boards tend to have difficulty, as it can create an uncomfortable power dynamic in the community.
An HOA manager will have no issues penalizing rule breakers. They'll also diffuse conflicts between homeowners to ensure compliance and harmony in the community.
Accounting Services
Community living hinges on homeowners paying their HOA dues each month. These fees are pooled together to pay for everything the community needs, from regular maintenance to new amenities.
Looking after an entire community's finances is a big job. If your HOA treasurer doesn't have accounting experience, it can be troublesome. In the worst-case scenario, it can start to affect property values.
HOA managers have accountants on staff to manage your HOA's money. They'll collect dues, perform bookkeeping duties, and formulate sensible budgets. With professional accounting, your community can thrive financially.
Vendor Coordination
HOA maintenance is one of the most important HOA management strategies. Community maintenance ensures members feel safe and comfortable in the HOA. It also makes the community more attractive to potential buyers.
When there's lots of investor interest in a community, property values will rise. Some HOAs have property values up to 4% higher than non-HOA property values.
If you want this for your community, it comes down to vendor coordination. A good HOA manager brings vendor relationships to your HOA. Whether you need weekly trash pickup or seasonal landscaping, a good vendor is a call away for HOA management.
Running Meetings
Another hallmark of a successful HOA is communication. HOA meetings bring communities together to make important decisions. Effective meetings can create cohesion and a greater sense of community in an HOA.
HOA managers have the expertise to run such meetings. They'll ensure all homeowners have a chance to speak and that community decisions are enacted.
Get the Best Community Association Management in LA
These are a few of the ways that community association management can govern your community more effectively. If you're going to see all of these benefits, you need to hire the right HOA property management services.
PMI LA Pacific is the top HOA management service in Los Angeles, offering everything mentioned here and then some. Contact us today to learn how we can help your community thrive.
