There are 5.5 million Texans currently residing in homeowners associations today.
If you're one of these homeowners, you know how integral the leadership in your homeowners association is. When you don't have quality leadership, everyone suffers. Fortunately, there are solutions in the form of a community association management company.
In today's post, we'll examine the role of an association manager in leading an underachieving HOA toward success. Keep reading and you'll have a clear picture of an association manager's duties and a roadmap to greater success for your Dallas HOA in 2024.
Community Association Finances
Of the main responsibilities of an HOA manager, looking after the community's finances is easily one of the most important. When homeowners pay HOA dues, they're pooled together to pay for everything that the community needs. This includes maintenance, as well as improvements that make HOA living better.
If you don't have experienced accountants at the helm of these finances, things can go downhill quickly. An association manager brings accounting experience to the table. This can preserve the HOA's finances, increasing home values and decreasing HOA fees.
Community Maintenance
Communtiy maintenance is essential for each homeowner's quality of life. If you don't ensure that regular maintenance is done, the community can fall into disrepair.
A well-kept community is desirable for property investors. This drives property values up - as much as 4% higher than similar properties outside the HOA.
Maintenance is tied to vendor coordination. You need to develop relationships with the right local vendors to ensure that maintenance is regularly scheduled. An HOA manager brings vendor relationships to your HOA.
A quality vendor will be one call away for whatever type of maintenance is needed - garbage removal, road repair, etc. Your community will thrive with the right vendors helping.
Compliance with Regulations
All HOAs have regulations that homeowners must live by. These governing documents are in place to provide continuity for all HOA members. You're always going to have rule-breakers in these situations, however.
It's the responsibility of HOA leadership to deal with rule breakers. Failing to issue penalties to these bad actors can result in disharmony within the community.
HOA managers have no issue with handing out penalties. They'll deal with bad actors and diffuse conflicts between homeowners. The result is a happier, healthier community.
Running HOA Meetings
HOA meetings bring the community together to discuss important matters. It could be planning new amenities or reconstructing governing documents. Whatever the matter at hand, meetings allow everyone to raise their voice in an equal manner.
If meetings aren't organized, they'll never go anywhere. HOA managers can run organized meetings that allow all homeowners to have a say. What's more important is that they can enact whatever the community decides upon.
Hire the Best Community Association Management Company
When you have a good community association management company helping, your HOA can finally thrive. PMI Nortex Properties is Dallas' premier HOA management service. We offer comprehensive HOA services, including everything discussed here.
To learn how we can help improve your community, contact us today.
