Some of the most common issues you'll run into while running an HOA board include financial problems, maintaining common areas, and dealing with neighbor conflicts. It's easy to find yourself in legal trouble if you don't have enough experience dealing with them all.
If you need help, you can always reach out to HOA management services. An HOA management company specializes in this line of work and has a wide range of resources available to them. They're a good option for both new and older HOAs.
Here are four benefits of hiring HOA management services for your community.
1. Third-Party Financial Administration
One of the responsibilities of a community association manager is to handle the financials, such as accounting and reporting. This is an area where many people find themselves in legal trouble due to errors in their tax returns or overcharging homeowners.
Instead of taking that risk, you can rely on professional management services to perform all the financial tasks and report back to you when they're done. They can also facilitate the transfer of property ownership, finalizing mortgages, and the closing process.
2. Years of Experience
Another reason to try out community association management services is their years of experience in that area. It's their main job, while running the HOA is more of an extracurricular for board members.
Management services can clearly define all the various rules and regulations for their homeowners. They know all the best ways to reach out to community members about any changes in guidelines or expectations. On top of that, they should be able to enforce community rules in a professional manner.
3. Legal Knowledge
It's easy to make mistakes when you're running an HOA for the first time. Unfortunately, this can lead to legal difficulties since money is involved.
For example, you can't enact rules without a vote, even if you think it's for the good of the community. You can't ban clotheslines or prevent someone from displaying a US flag.
Property managers need to understand the limits to their reach, which is where management services come in handy.
4. Expanded Network
A homeowner's association requires access to various service providers for things such as landscaping, property maintenance, security, and even accounting. It can be daunting to gather up all these different connections and stay in touch with them all.
HOA management services are a great option if you want to get help handling all of these various tasks as well as expand your network. It also looks good for your organization to utilize professional help.
Make Your Job Easier With HOA Management Services
HOA management services are worth the cost if you want to improve the quality of the various services you provide for properties in your area. Most HOA board members are volunteers and may need all the help they can get.
PMI North Atlanta serves owners, investors, and tenants in the North Atlanta area. You can also find calculators on our website to figure out ROI, rent vs sell, and vacancy loss. Contact us to learn more about how we can help you.
