A HOA management company can provide a host of benefits to a board and community. For example, seven major advantages can surface:
- Greater Clarity – Management companies help make sure the HOA’s rules, regulations and policies make sense and are communicated clearly to members.
- Increased Consistency – A good HOA management company enforces rules and policies without favoritism.
- Significant Legal Knowledge – The management company will understand how HOA policies will conform to the law.
- Varied Expertise – A HOA management company will have experts trained in property management, finance, accounting, human resources, marketing and more.
- Solid Vendor Management – Management companies know how to keep vendor issues from escalating.
- Strong Neighborhood Commitment – It’s in the management company’s best interest to make all the members within the community happy with their services. Therefore, they will work hard to maintain a safe, well managed neighborhood that’s meeting member expectations.
- Open Communication – A HOA management company makes everyone within the community feel comfortable voicing their concerns and ideas.
However responsibilities are delegated between the board and HOA management company, the focus should always be on maintaining property values and a sense of community. This is what will attract buyers to the neighborhood – and keep current members happy and involved.
Continue to read the Associated Asset Management Blog for information about HOA Management Company.