Is your Los Angeles HOA at a crossroads about hiring an HOA manager?
Running a community association effectively isn't a simple job, especially considering that these communities are led by board members who have volunteered in those roles and don't typically work full-time. Most HOAs have no choice but to bring in a third party to oversee the day-to-day operations of the estate.
While this approach can work, it's best to hire an experienced, full-service association management company to take over the administration of your community. If you're not convinced, keep reading to learn how an HOA manager will guide your association toward excellence.
Establishing Administrative Structures
An HOA is like a corporation with departments. Setting up these departments is the work of the board, but without sufficient expertise, it can fall short. This is where an HOA management professional comes in handy.
They'll use their occupational knowledge and experience to assess your HOA and recommend the administrative structures that need to be developed. For example, departments in charge of the following tasks can be created:
- Repairs and maintenance
- Compliance
- Dispute resolution
The goal of establishing administrative structures is to improve operational efficiency. From time to time, the HOA manager will review these structures and recommend changes if necessary.
Financial Management
According to Investopedia, HOAs collect $200-$300 monthly from homeowners. These funds are primarily used to run the affairs of the community.
Unfortunately, some HOAs struggle with financial management. It's not uncommon to hear of HOAs that are broke or bankrupt, mainly due to mismanagement and embezzlement of funds.
An HOA management firm provides accounting and reporting services, so it's well-positioned to oversee the collection, budgeting, and spending of HOA funds. In addition, the manager can recommend ways to harness the community's financial potential.
Enforcing HOA Rules
All HOAs have rules that residents must abide by, but enforcing them is easier said than done. There will always be rule breakers, but without law enforcement, an HOA can struggle to deal with habitual offenders.
If you're in this situation, hiring an HOA property manager is the solution. In this context, their job is simple: ensuring everyone follows the rules, and taking the necessary enforcement actions without fear or favor, and in accordance with the community's bylaws.
Engaging Homeowners
Engaged homeowners are an integral part of a thriving HOA community. However, in a world where everyone wants to mind their own business, it can be difficult to cultivate a spirit of togetherness.
An HOA manager will devise strategies to keep homeowners engaged. They can plan seasonal activities to boost community engagement, for instance. They also drive engagement by collecting feedback from homeowners and acting on it promptly.
Your Los Angeles Community Needs an HOA Manager
Hiring an HOA manager comes at a significant cost, but what options do you have? Proper governance and administration of an association is non-negotiable, and as this post has demonstrated, a dedicated manager will provide both.
Now, what's next is to find a competent association management company for your HOA. In that case, look no further than PMI LA Pacific. We deliver exceptional service by optimizing community profitability within budgets, making association management truly manageable.
Schedule a free consultation with us today.
