If you're one of the 27% of Utah homeowners who live in an HOA, you may be thinking about the perks of HOA property management.
A community association typically brings HOA property managers into the equation when the HOA board needs help. An HOA board is responsible for taking care of shared amenities, HOA finances, and governance, among other things.
To be done properly, the people performing these tasks need a certain level of expertise. If they don't have it, your community will suffer. In today's post, we'll tell you five services an HOA property manager provides, so keep reading and find the right HOA managers for your community.
1. Financial Help
Accounting is an important part of running a successful HOA. Everyone pays their HOA fees to experience all of the shared benefits that the community should provide. Without good accounting, fees will go up and property values, which should be around 5% higher in HOAs, go down.
HOA management has experienced HOA accountants on staff. These people help maintain the budget and plan for future expenses so your board doesn't have to.
2. Maintenance
Good HOA maintenance of shared amenities comes down to vendor coordination. If you've got good relationships with local vendors, things like garbage collection, landscaping, and repairs will be done regularly and as needed.
3. Governance
The governing documents for your HOA tell all members how they should go about their business. One of the important aspects of HOA living is that everyone follows the rules and regulations.
You're always going to have rule-breakers, however. It can be awkward for HOA board members to enforce rules, as it creates a strange power dynamic. Your HOA manager is a third party who can discipline bad actors and resolve conflict for a more harmonious community.
4. Future Planning
At HOA annual meetings, your community gathers to discuss the successes and failures of the past year, as well as plans for the future. These plans may include everything from changes to governing documents to plans for new amenities, like a public pool or fitness center.
Your HOA manager can help to enact the community's wishes. They'll work with your HOA board during regular meetings to budget for and coordinate new projects that improve your community.
5. Board Member Resources
Lastly, an HOA manager understands its role in running the HOA. At the end of the day, it's your HOA board and the community members who make important decisions. The HOA manager is paid to support the board and provide service and expertise whenever needed.
They'll provide your board with whatever resources they need to help the community succeed. Even when they're not directly involved in running the community, their presence in the background is often enough to take the HOA to new heights.
Get the Best HOA Property Managers in Orem, Utah
Now that you know what HOA property managers do, it's time to tell you how to find the right one. Think about your needs and search for an association manager that offers services that satisfy those needs.
If you're on the board of an Orem, Utah HOA, PMI Reliant is the right choice for association management. Contact us today to learn about our services and how they can help your community.
