A report from FCAR shows that there were 365,000 HOA communities in the US in 2023, and this may have reached as high as 370,000 in 2024.
Residents of managed communities enjoy an enhanced quality of life. However, HOA boards sometimes fail to keep up with their responsibilities and require some assistance. A home owners association property manager can step in here to provide the help they need.
So how, exactly, can an HOA manager enrich your community? Keep reading to find out.
Common Area Maintenance
Common areas are a typical way of enhancing HOA communities. They can include various areas that residents are free to use, such as:
- Fitness centers
- Art studios
- Parks
- Swimming pools
However, someone needs to look after these areas to make sure they're in good condition. An association manager can take on this responsibility.
They can organize routine maintenance schedules and oversee any repairs when they're needed. Association managers typically have plenty of experience with property maintenance, so they can do this efficiently. Also, they often have extensive networks, so they should have no trouble finding suitable contractors when they're needed.
Administrative Tasks
Reliable HOA management strategies are built on being organized, and to achieve this, an HOA needs to stay on top of all administrative tasks. Some common examples of these include:
- Organizing HOA meetings
- Answering calls and replying to messages
- Creating agendas
- Keeping records
- Planning social events
The HOA board can usually do this easily enough, but these tasks can be quite time-consuming. If they spend too much time on them, they may not be able to focus on other important duties.
An association manager can take over these tasks, ensuring they're done efficiently and effectively. The HOA board will then have more free time which they can dedicate to the community, resulting in more effective HOA management.
Financial Management
One of the more complex responsibilities that HOA boards need to worry about is managing finances. HOA boards are typically made up of community volunteers, and they rarely have a financial background. Without relevant experience, they can struggle with these duties.
Association managers have suitable training and experience. They can deal with various financial tasks, such as:
- Creating budgets
- Collecting HOA fees
- Maintaining financial records
They'll be able to do this far more efficiently than the HOA board would. Their experience means that mistakes will be less likely. Additionally, they may be able to identify areas where the community can save money, resulting in more funds that can benefit the community in other ways.
Working With a Home Owners Association Property Manager
If you live in an HOA community, a home owners association property manager can offer reliable assistance that will help your community grow and thrive. They may also be able to offer expert property management tips to residents and property owners who have their own investment goals.
PMI LA Pacific is a leading real estate asset management company serving clients in Los Angeles and the surrounding communities. Our expert team has years of experience in association management and we tailor our services to each community to ensure we always provide suitable guidance and assistance.
Take a look at our association management page to find out more about how we can help your community.
