If you're living in one of the 10,500 HOAs in Colorado, you may be wondering what an HOA management can do for your community.
Living in an HOA should come with a specific set of perks, such as higher property values, great amenities, and a community-minded lifestyle. When an HOA board - the leadership group, comprised of volunteer homeowners - is overmatched, you may not get all of the benefits you signed up for.
In this scenario, HOA management companies can save the day. In today's post, we'll explain some of the most important things that HOA managers can do for HOA communities. Keep reading and you'll see that there can be brighter days ahead for your association.
Financial Management
One of the most important aspects of living in an HOA is that your property value is up to 4% higher, on average, than similar properties outside of an HOA. To achieve this, your HOA leadership has to have good financial management.
You need someone who promptly collects HOA dues each month. You also need someone who can handle accounting duties and budget for everything from routine maintenance to upcoming projects. An association manager has the experience and expertise necessary to bolster the financial health of your community.
Community Maintenance
Another thing that HOA members enjoy is a well-maintained community. All common areas and community amenities should be tended to regularly so that everyone can enjoy them. To do this, your community needs to have contracts with local vendors.
These vendors pick up recycling and trash, carry away snow in the winter, and perform landscaping in the summer. When you hire an HOA manager, they come with built-in vendor relationships. You'll be able to rely on regular maintenance and prompt repairs, whenever necessary.
Governance and Compliance
All HOA members must abide by the governing documents. These outline what homeowners can and can't do with their properties, as well as in the common areas.
Of course, whenever you have dozens of homeowners living under the same set of rules, you'll have rule breakers. Issuing penalties to rule breakers can be awkward for the HOA board, who are volunteers and neighbors.
An HOA manager brings impartiality to the table. They'll have no issue handing out discipline to bad actors and mediating conflicts between homeowners. All-in-all, you'll have a more harmonious community.
Leading HOA Meetings
Planning for the future is an important part of being in an HOA. Members get to decide what happens in the community through democratic means. A big misconception about HOA managers is that they take over HOA's, but in reality, they're there to support the community's wishes.
They'll help your HOA board lead annual community meetings. Once a consensus is made on a particular plan, they'll help bring that plan to fruition.
Find the Best HOA Management Companies in Colorado
There are countless perks to hiring HOA management companies, especially if you're unsatisfied with your HOA board. If you live in a Colorado Springs HOA, hiring Team Colorado Casa PMI is the way to go.
We're a full-service property management group offering all of the HOA services discussed here and more. To learn more about what we can do for your community, contact us today.
