As of 2020, there were almost 55,000 homeowners associations in California alone.
If you're one of the millions of Californians who live in an HOA, you might be wondering why your community isn't thriving like some others do. The success of an HOA ultimately comes down to the quality of its leadership. If your HOA board of directors doesn't run a professional operation, the community suffers.
That's when you know it's time to hire an HOA property manager. In today's post, we'll explain the role of an HOA manager and how they empower HOAs with effective leadership. Keep reading and learn how to improve your HOA today.
Offering Financial Assistance
One of the most important tasks for your HOA leadership is to manage your community's finances. This involves collecting HOA fees from homeowners, performing bookkeeping duties, and creating realistic budgets that cover all of the most essential needs of the community.
If your HOA treasurer doesn't have accounting experience, your community will suffer. In the worst scenarios, you could end up having to pay higher HOA fees and property values could sink.
HOA property management has accountants on staff to help with these matters. You'll never have to worry about where your HOA fees are going or whether they'll rise due to financial mismanagement.
Governing Your Community
All HOA communities in Del Mar and elsewhere are governed by unique rules and regulations. They could have to do with anything from pet and tenant allowances to parking and quiet hours.
Whenever you have rules governing dozens of homeowners, you're going to have bad actors. It can be awkward for the HOA board to issue penalties to their neighbors, but not for an HOA manager. They'll act as an impartial third party, issuing fines to rule breakers and diffusing conflicts between homeowners.
Providing Maintenance
HOA maintenance is essential for the safety and happiness of the community. It's also important if your community is going to remain a desirable place to live. These communities have higher property values -- sometimes as much as 4% higher than other similar types of properties.
HOA maintenance comes down to vendor coordination. If your HOA board doesn't prioritize vendor scheduling and contracts, your community could fall into disrepair.
This will never happen with HOA managers. They've got existing vendor relationships, so whatever your community needs, the right vendor is a call away.
Organizing Meetings
HOA meetings are important for the future of any association. It gives all members a chance to voice their opinions on matters ranging from governing documents to new amenities -- that is if the meetings are organized.
Poorly organized HOA meetings don't accomplish anything. An HOA manager has experience running organized HOA meetings that ensure everyone's voice is heard. More importantly, they enact the wishes of the community afterward.
Get the Best HOA Property Manager in Del Mar
These are just a few of the ways that an HOA property manager can guide your community. If you want all of these perks, you need to find the best property management company in your area.
For Del Mar communities, that's PMI Del Mar. We're part of one of the largest HOA management services in the country, offering a wide range of services, including everything discussed here. Contact us today to learn how we can help your HOA community thrive.
