If you live in one of the 14,000 HOAs in North Carolina, you may be wondering why yours isn't meeting your expectations.
A homeowners association should give its members a particular set of perks. It could be high property values or it could be community-minded living. We're seeing more and more communities struggling with disenfranchisement on the part of their members.
This almost always comes down to poor leadership. If your HOA board of directors isn't cutting it, it's time to consider an association manager.
In this post, we'll explain the key responsibilities and skills of association management. Keep reading and you'll see how easy it can be to improve your HOA community with the types of services an HOA manager can provide.
Accounting Services
The financial health of any HOA community depends on the quality of its money management. Typically, the HOA board's treasurer is who collects HOA dues, which are then pooled together to pay for everything that the community needs.
It's a big responsibility that requires bookkeeping and budgeting experience. Unfortunately, most HOA treasurers have no experience in accounting. The result of poor money management is higher HOA fees and lower property values.
Hiring an HOA manager gives you access to professional accountants. These people can ensure the money is being spent sensibly and frugally, helping your community reach financial stability.
Maintenance
Did you know that HOA property values can be as much as 4% higher than other similar properties outside of HOAs?
For this to happen, however, your community needs to be a desirable place to live. It needs to be well-maintained, which requires good vendor coordination.
A good HOA management company comes with built-in vendor relationships. Whether it's garbage collection or street repairs, the proper vendor will be a call away for your HOA manager.
Governance
HOAs are all governed by unique rules and regulations. Common regulations cover things like pet allowances, rental units, and property maintenance.
Anytime you're dealing with dozens of homeowners, you'll end up with rule breakers. If your HOA board has trouble keeping these people in line, it'll create disharmony in the community.
You need an impartial third party to issue penalties and fines to bad actors. An HOA manager can do this and diffuse conflicts in the community to promote a more respectful HOA atmosphere.
Leading Meetings
HOA meetings decide the future of a community. All homeowners must have the chance to voice their opinions about things like governance and new projects.
If you don't have organized meetings, the community will never improve. An HOA management service has plenty of experience leading such meetings. In addition, they can ensure that the community's decisions are enacted, whether it's getting a vendor for a building project or adjusting the HOA rules.
Get the Best Association Manager in Charlotte
Having an association manager brings professionalism and competence to your HOA. Now that you know what they do, it's time to tell you about the best HOA management service in Charlotte.
PMI Queen City is part of the top HOA management company in the country, offering comprehensive services that include everything discussed here. To learn more about what we do and how we can help your community, contact us today.
