There are over 50,000 homeowners associations in California alone.
If you live in one of these HOAs, you may be wondering how your community could improve. The success of an HOA community greatly depends on the people running it. For many HOAs, leadership is in the hands of a group of volunteers that make up an HOA board of directors.
In today's post, we'll explain the role of HOA property management companies and how they can improve HOA living. Keep reading and you'll see that there's a brighter future for HOA homeowners everywhere with association management.
Financial Management
All HOAs utilize HOA dues from their members to fund everything the community needs, from maintenance to utilities. When you have a good treasurer taking care of the bookkeeping and budgeting, you'll have a thriving community with reasonable HOA fees and high property values - as much as 4% higher than properties outside HOAs.
The problem is that most HOA treasurers have no accounting experience. An HOA manager has accounting professionals on staff who can take one look at your community's financial situation and make the necessary money decisions.
Governance and Compliance
Every HOA has a unique set of governing documents. These are rules that all homeowners must live by. Most HOAs have rules around renting out homes, allowing pets, parking, and quiet hours, among other things.
Whenever you have dozens of homeowners living with these rules, you'll run into problems. It's the community's leaders who are responsible for dealing with rule breakers, but that doesn't often end well. HOA board members are volunteers, so the authority that they have may not sit well.
To avoid this awkward power dynamic, you can hire a property manager. Property managers will have no problems issuing penalties to problematic homeowners or diffusing altercations between homeowners. They'll work to restore harmony in your community.
Community Maintenance
The biggest perk of HOA living is having a clean, safe community to come home to. For this to happen, your HOA board needs to develop vendor relationships and contracts. If they can't schedule vendors regularly, your community may fall into disrepair.
Community association managers often come with existing vendor relationships. Whatever your community needs, be it garbage pickup or street cleaning, a quality local vendor will be a call away.
Creating a Brighter Future
HOA meetings bring all community members together to discuss pertinent issues. It could involve amendments to governing documents or new amenities in the community. As long as your leadership is organized, meetings should be fruitful.
If they're not, an HOA manager can fix them. Experienced HOA managers have run countless HOA meetings. Furthermore, they have the resources to take whatever a community decides it wants and turn it into a reality.
Getting the Best HOA Property Management Companies in LA
These are a few of the main responsibilities of HOA property management companies. If your Los Angeles HOA isn't treating you how it should, hiring a community association manager is the answer.
To get the best HOA management in Los Angeles, look no further than PMI LA Pacific. We offer comprehensive HOA services, including everything discussed here. Contact us today to learn how we can take your HOA to new heights.
