Around 6 million Texans live in homes governed by community associations.
If you're one of these homeowners, you could be wondering why your community isn't giving you the perks that others give their homeowners. A community only goes as far as its leadership takes it, so if you're having issues, it might be time for a change in HOA management strategies.
Today, we'll give you some homeowners association tips and help you develop HOA best practices. Sometimes, the best thing to do is get top Dallas HOA support to help, but keep reading and we'll explain what it takes to run an HOA properly.
Understand Finances
If you're going to run a homeowners association the right way, an understanding of accounting is essential. Too many communities are run by folks who don't understand the first thing about money management on a large scale. This is dangerous for everyone involved.
One of the biggest reasons to hire a professional HOA manager is to take this burden off of the volunteers that make up the HOA board. They know how to efficiently collect fees, balance the community's books, and create sensible budgets that maximize the community's money.
Failing to do accounting the right way will inevitably end in higher HOA fees for everyone.
Be Firm on Rules
A key to HOA happiness is mutual respect between homeowners. The community has a set of rules and regulations that make up the governing documents. Some communities have strict rules around allowing pets, while others are focused on keeping noise down.
Whatever your community's rules are, you need to know how to be firm with bad actors. Many communities have issues with power dynamics between board members and homeowners.
It's okay to be firm on the rules and issue penalties to bad actors. This will create a more successful homeowners association overall, even if it ruffles some feathers along the way.
Stay Diligent on Maintenance
You need your community to look and feel good at all times if homeowners are going to remain happy. A well-maintained community is also more attractive to outside investors. When you have people wanting to buy into your HOA, then property values will go up.
HOA maintenance is often done by third-party vendors. One of the biggest homeowners association tips we can give is to stay on top of your vendor contracts and get ahead of schedule. Whether it's weekly garbage collection or seasonal landscaping, you need to make sure the right vendor is always there on time.
Hire HOA Management
These are a few of the key HOA management strategies that make for a successful HOA. Not every community is equipped to tackle these responsibilities, which is why it's important to know when to call for reinforcements.
HOA management can handle every aspect of running an HOA, including everything mentioned here. PMI Nortex Properties is Dallas' top HOA manager and part of the country's largest property management group. To learn more about our helpful HOA services, don't hesitate to contact us today.
