Has your HOA membership grown in recent years in North Atlanta? If so, you're in good company.
Research shows nearly 60% of newly built homes and 8% of new homes belong to HOAs. HOAs are becoming increasingly common, and properties in HOA communities sell faster and at higher price tags than their non-HOA counterparts. That's partially because HOAs handle tasks like landscaping and maintenance that can drive up property values.
Need help running your HOA efficiently? HOA property management companies can significantly enhance a community. Let's explore how to choose the right home owners association property management company in North Atlanta.
The best HOA property managers are responsive to the needs of their community residents and HOA board members. Check online reviews of home owners association property management companies to see how past clients have rated them in this area. You may find these reviews on sites such as Google Reviews or Facebook.
Quality HOA managers will quickly handle residents' maintenance requests and complaints. They'll also manage your finances and answer any questions you have about your revenue and expenses. The HOA manager should regularly provide you with management reports, too.
HOA Industry Experience
Look for a HOA management company with several years of experience in the industry. They should especially know how to collect overdue fees.
States have different laws regarding how HOAs should handle a past-due account. Ask your prospective HOA manager what their approach is. They must follow federal and state laws when working with a delinquent homeowner.
The company should also have substantial experience in accounting and billing. This is critical for successful HOA management.
Managing your finances correctly will keep your HOA operating smoothly. It will also reduce your association's liability.
Fund mismanagement may quickly lead to a lawsuit that costs your HOA financially. A lawsuit might also tarnish your HOA's image and your personal reputation, so this is one step you can't afford to skip.
Reputable HOA management companies have solid site management strategies. Ask your potential HOA manager what their strategy entails and the steps they have in place to achieve it.
In most cases, site management involves reviewing individual homes as well as your community's common areas. These inspections are performed routinely to determine what updates are needed.
Your HOA manager's goal should be to keep all living and community spaces uniform. This will help protect home values and keep homeowners secure. They should have a balanced and fair strategy that applies equally to all homeowners.
Learn More About HOA Property Management Companies
It's important to choose an HOA property manager with strong experience managing associations' finances. The best HOA property management companies are also responsive, with a solid site management approach in place.
At PMI North Atlanta, we offer multiple services to help HOAs succeed. These include reporting and accounting. We also help coordinate vendors, handle maintenance, and ensure compliance with local laws.
Ready to get started? Contact us to learn more about our HOA management services and let's work together!