According to Investopedia, HOA dues usually cost around $200-$300. When residents part with so much cash, they expect competent property manager leadership.
With the right association property manager at the helm, communities can enjoy a harmonious neighborhood and improved home values. And finding proactive and skilled leadership is key.
Are you interested in learning more about how effective property management could transform your community? Read on to learn how an effective HOA board can help your community thrive.
They Manage Community Finances
The community trusts the HOA with their hard-earned money, so proficient accounting skills are crucial. It's impossible to build trust without transparent financial records, but there's more to it than that.
Effective HOA leadership means getting the most value out of community funds. Good leadership in community governance means you're:
Getting the best possible deal on vendors and contractors by leveraging your professional network
Building robust amenities that are built to last
Throwing exciting community events without wasteful spending
Getting the most out of community funds through good budgeting
All the association management tips in the world won't help you if the community doesn't trust you on the finances.
They Organize Efficient HOA Meetings
Another important role of the association property manager is organizing meetings. According to Let's Grow Leaders, effective leadership in community management means ensuring everyone has a voice, which isn't possible in poorly run meetings.
A good HOA meeting needs to establish meeting topics in advance and lay out a clear agenda, ensuring the board members and community appreciate the issues at hand. An agenda helps keep the meeting on track and ensures everyone gets the chance to speak.
Some HOAs even have hybrid meetings, allowing residents who have other commitments to dial into meetings remotely, or watch playback later on. Your HOA can only master these organizational and technological challenges with great leadership.
They Go Beyond Meetings to Engage the Community
Of course, meetings are important to engage with the community, but a good leader has other ways of reaching out. By organizing engaging community events and activities, the HOA can build trust and reach people who may not attend formal meetings.
They'll also provide regular updates to the whole community through mediums like:
Online community portals
Newsletters
Email updates
Social media pages
By creating such a multichannel approach, HOAs can ensure the whole community is on the same page. Managing all these communication platforms is hard work, but it's crucial to creating an inclusive community.
The Right Association Property Manager Could Transform Your Community
A good association property manager is skilled in managing finances and organizing meetings, but they know there's more to community building. They're always finding new ways to build trust and engage with the community.
Are you looking for a local partner to help bring your Dallas neighborhood to life? Here at PMI Nortex Properties, we understand what it takes to build trust and value. We're locally owned, so we understand what it takes to run a successful Dallas HOA, but we're part of a larger franchise with decades of collective experience.
Contact us today and learn why PMI Nortex Properties is the fastest growing property management company in the US.
