There are 20,000 HOAs in Texas alone, but not all of them bring much to the table for their members.
If you live in a Dallas HOA, there's a decent chance that you're frustrated by how it's being run. A community is only as effective as the people on the HOA board, which is made up of volunteer homeowners. Unfortunately, most aspects of running an HOA require professional expertise.
That's where an association manager comes into the picture. Today, we'll explain the roles and responsibilities of association management. Keep reading and you'll be able to decide if hiring one is the right move for your homeowners association.
Financial Management
HOAs are financed by their members. Every homeowner pays monthly HOA dues, which are then pooled together to pay for everything from routine maintenance to brand-new amenities for the community.
When the HOA treasurer isn't equipped to manage the community's finances, homeowners will start to wonder where their HOA fees are going. In the worst circumstances, poor accounting can lead to a drop in property values or HOA fees going up inexplicably.
An association management company keeps professional accountants on staff. These people will collect dues, balance books, and create budgets that make sense for the community.
Community Upkeep
Community maintenance is essential for the safety and enjoyment of HOA members. It's also important in making your community a desirable place to live. When a community is attractive, it catches the interest of buyers and investors and property values rise.
To stay on top of community maintenance, your leadership needs good vendor coordination. Every aspect of maintenance is outsourced to local vendors, but they need to be paid and scheduled. Failing to do so will throw your community into disrepair.
An HOA manager brings existing vendor relationships to your HOA. Whatever your community needs, be it garbage removal or a snow plow, your HOA manager can call a vendor in minutes.
Governance
HOA members must follow their community's governing documents. These are the rules and regulations that give community members their unique lifestyle.
Unfortunately, whenever there are rules in place, there will be rule breakers. It can be tricky for the HOA board to keep bad actors in line, as it can create an uncomfortable power dynamic.
This isn't the case for an HOA manager. They'll have no issue with giving out penalties to rule breakers and diffusing conflicts between homeowners. The result is a more harmonious community.
Running Meetings
HOA meetings decide the future of the community. You need organized meetings that allow everyone to voice their opinion for this to work. If the meetings aren't organized, they won't accomplish anything.
Association managers are very experienced in running such meetings. They'll ensure all voices are heard, notes are taken, and most importantly, that decisions are carried out promptly.
Does Your HOA Board Need Help?
If your Dallas community's HOA board isn't cutting it, hiring an association manager is the right move. For real change to happen, you need an experienced community manager at the helm.
PMI Nortex is Dallas' premier HOA management group. To learn more about our comprehensive services, which include everything discussed here, don't hesitate to contact us today.
