According to the Community Associations Institute, communities use $26.6 billion in assessments to repair and enhance their communities. As a result, the property value of homes in community associations is nearly $11 trillion. What if your beautiful Charlotte, NC community could exceed that average?
With proper association management, it's possible. You can enhance your community, attract new members, and thrive.
Not sure where to start? Read on for our effective Charlotte association management tips today!
Maintain Open Communication
To foster a harmonious community, maintain ongoing communication between members and the board. Otherwise, members may question how their funds are being spent or why policies are changing.
If there's been an increase in conflicts between members, outsource to a property management company. An association manager can mediate conflicts. Allowing them to act as a neutral third party will help you maintain harmony.
This can lead to increased community collaboration. Community members will take pride in their community, leading to higher satisfaction rates.
Allow your association manager to use an online portal to provide members with regular updates. These may include:
- Financial updates
- Community developments
- Maintenance projects
- Policy changes
- Upcoming events
As you apply these effective management strategies, look for ways to bring the community together. For example, you can host a monthly event. A movie or game night can unite the community, leading to camaraderie.
Enforce Rules
Establish and enforce your community's Covenants, Conditions, and Restrictions (CC&Rs). If you're uncomfortable enforcing rules on friends and neighbors, hire an association manager. They can enforce the governing rules on the board's behalf.
These rules can cover:
- Landscaping/curb appeal
- Holiday decorations
- Vehicles and parking
- Pets
- Exterior storage
- Trash pickup
- Subletting
- Noise/quiet hours
- Design changes
Ensuring everyone follows the rules will maintain a peaceful coexistence among residents. Choose a property management company that will recognize your community's unique needs. They'll tailor their services to meet the community's expectations.
Ensure Financial Stability
Leverage financial best practices for associations to ensure the community's long-term success and growth. A property management company can help you plan and maintain a budget. The board can allocate resources to meet the community's needs.
Look for a property management company that offers financial services like:
- Preparing and filing tax returns
- Providing financial reports to the HOA board
- Preparing and maintaining financial records
- Handling payroll for HOA employees
- Processing HOA dues and fees
- Assisting with financial planning/decision-making
Complete Maintenance
Schedule inspections and complete maintenance to improve the community's curb appeal. Your association manager can gather competitive bids from experienced contractors. Maintaining a beautiful community will boost the property value and attract new members.
Outsource for Association Success Practices
Instead of applying these association success practices alone, hire a property management company. Their professional services will ensure you operate efficiently. Their effective management strategies can help you remain competitive in today's market.
Hire an Association Management Company
Proper association management can ensure your community's growth and success. Partner with an experienced property management company to apply these best practices. With their help, you can improve property values while operating efficiently.
PMI Queen City can help you unlock the secrets of effective property management. Trust our professional guarantees, state-of-the-art technology, and award-winning strategies.
We'll tailor our services based on your community's unique needs. Contact us now for a free consultation.
