Did you know that there are more than 21,000 HOA associations in Texas? Many homes are already part of HOAs and new-builds are expected to increase that percentage.
New and experienced HOA communities can benefit from working with HOA management companies. Professional managers improve community operations in all categories.
What are the most important things that HOA management companies can do for you? Keep reading to find out their main responsibilities.
Create a Budget and Maintain Finances
HOA management companies can take on the daunting task of creating a budget and maintaining finances. HOA boards usually take on this responsibility, but it can be outsourced.
Board members likely don't have the accounting experience needed to handle money. Mishandling funds can cause legal problems and impact the association as a whole.
Selecting HOA companies with a background in accounting can prevent these problems. Association managers can handle the following:
- Financial records
- Everyday financial tasks
- Avoiding extra charges
- Yearly budget
Accurately managing finances prioritizes the community.
Enforce Rules and Regulations
HOA management services help enforce community rules and regulations. Community members are your neighbors. It can be uncomfortable to ask them to pay their late dues.
Generally, HOA community members are responsible for:
- Preserving property values
- Paying monthly dues
- Landscaping
- Trash management
An HOA manager will know the rules inside and out. They can ensure compliance in the community with little fuss.
Handle Vendor Coordination
Community management and HOA home value go hand in hand. To maintain home values, contractors are required for landscaping, maintenance, etc.
HOA board members might be too busy to handle vendor management. Instead of getting behind on these days, allow an HOA property manager to handle it.
Their services include vendor coordination, contract negotiation, and quality control. They will help find competitive bids so that the HOA will get the best quality for the money spent.
Work on Administrative Tasks
Community building can't be done without the "boring" office administrative tasks. HOA property managers can stay on-site to ensure daily tasks are complete.
Most board members don't have time to manage daily operations due to their full-time jobs. HOA managers reduce the burden that these tasks may cause board members:
- Scheduling board meetings
- Communicating with vendors and residents
- Maintaining financial reports
- Planning community events
Property managers will manage shared facilities and amenities as well. They can keep them clean and request repairs and upgrades as needed.
Allow HOA Management Companies to Help You
HOA management companies like PMI Values Your Casa understand that your community is unique. We offer customized services to meet the needs of your Cypress, Texas association.
We serve all community types with a team of experienced management professionals. We'll take an innovative approach to finances, community rules, vendor coordination, and administrative tasks.
Our approach keeps the community in mind. We manage all associations with the goal of adding value back to the community.
With over 10 years of experience, we are ready to take on your property management. Contact us today to benefit from the PMI difference.
