According to Rocket Mortgage, 57% of association residents say they don't like having an HOA.
Most community-based homeowners are either very happy with their community or very disappointed. If you're disappointed, it's almost certain that it's due to poor community leadership. You need good people at the top to enjoy all of the perks of HOA living.
In today's post, we'll tell you how home owners association property management can help your HOA thrive in the future. Keep reading and you'll see how a few key property management strategies can transform the way an HOA operates.
HOA Meetings
Firstly, a community needs to collectively pull in the same direction to improve itself. You can only do that if you're regularly communicating with one another, so meetings are essential. HOA meetings can cover anything from amendments to governing documents to which new amenities to implement in the community.
If you don't have organized meetings, you won't have much community happiness or cohesion. One of the first community success tips a good HOA manager will give you is to stay on topic at your meetings and allow all voices to be heard. Once you've done that, you can implement the community's wishes and keep everyone satisfied.
HOA Governance
All homeowners associations are subject to governing documents that outline the rules and regulations in a community. Some communities have rules about whether or not to allow rentals and others have rules around pets.
Whatever the rules may be, there are always going to be rule breakers in any community. How they're dealt with says a lot about the community's leadership. If bad actors aren't duly punished, it sends a message to everyone that the rules don't matter.
A good HOA manager can issue fines and penalties to bad actors without creating problems with power dynamics. They'll also diffuse problems between homeowners to create more harmony in the community.
HOA Maintenance
HOA maintenance helps homeowners feel safe and comfortable in their community. It also brings interest from real estate investors, which can generate higher property values. Some communities have property values as much as 4% higher than non-HOA homes.
To keep a community in great shape, you need great vendor relationships. As far as HOA management tips go, this might be the most important. Keep your vendor contracts up to date and stay ahead of vendor scheduling so that there are never concerns about the state of the HOA.
Hire Home Owners Association Property Management from PMI Birmingham Region
These are just a few HOA best practices to implement in your community. If you're having issues running your HOA effectively, hiring a home owners association property management company to help is the best move.
At PMI Birmingham Region, we're the greater Birmingham area's top HOA management resource and part of the largest property management group in the country. We can help you with everything discussed here, as well as accounting and any legal assistance.
Contact us today to learn more about our services and how they'll transform your community in 2024.
