In Texas alone, over 20,000 homeowners associations are encompassing over 5 million residents.
Buying a home in an HOA should come with a certain set of perks, like high property values, well-maintained common areas, and a community mindset. Unfortunately, most HOAs are run by volunteer homeowners who aren't equipped to give you the standard of living you expect.
In this scenario, getting a professional HOA manager is the best way to turn things around. In today's post, we'll tell you 5 pivotal HOA manager services you can expect from an HOA management company. Keep reading and find out how the best-run HOAs operate.
1. Resident Billing
When you hire an HOA manager, they'll be responsible for collecting HOA fees from each homeowner. HOA fees are how the community pays for things like landscaping, repairs, and new amenities.
If you have homeowners who fail to pay their dues on time, the whole community suffers. It can be awkward for your HOA board of directors to chase their neighbors down for this money. As a third party, an HOA manager has no qualms with resident billing and issuing penalties for late payments.
2. Assessments and Fines
Every HOA has a set of rules and regulations in place that every member must abide by. If it works, it creates a uniform community where every homeowner gets to enjoy a high standard of living. There are almost always people who try to get around the rules, however.
Again, it can be difficult for your HOA board members to perform assessments and issue fines to rulebreakers. An HOA manager can handle this task and maintain harmony in the community.
3. Site Management
The biggest perk of living in an HOA is having maintenance of common areas taken care of. Every HOA enjoys different amenities, such as parks, recreation centers, and walking paths. These things need to be looked after to remain in good condition.
Your HOA manager will perform some maintenance themselves, and the rest will be performed by local vendors. The HOA management company often comes with built-in vendor relationships, so you'll never need to worry about your HOA being overlooked.
4. Accounting and Budgeting
Collecting HOA fees is one thing, but managing the money effectively is an entirely different beast. You need someone who brings experience to the table if your community is going to thrive financially.
A good HOA management company will have accounting and budgeting experts on staff to help manage your community's money. The result is better spending, lower HOA fees, and higher property values for your HOA.
5. Future Planning
The best HOAs are always looking for ways to improve their community. New amenities are decided on during annual HOA meetings and plans are enacted during HOA board meetings.
Your HOA manager will be heavily involved in both. They'll also have the know-how to enact the community's wishes in a timely and effective manner.
Get the Best HOA Manager Services in Dallas
Now that you know what HOA manager services entail, it's time to get the best one in Dallas. At PMI Nortex Properties, we belong to the top HOA property management group in the country, offering all of the services we've discussed here and more.
To learn how we can boost day-to-day and long-term living in your HOA, don't hesitate to contact us today.
