Association Management Companies: Key Players in Community Development

Association Management Companies: Key Players in Community Development

Are your HOA board volunteers starting to neglect important tasks? There aren't enough hours in the day for living in and managing HOA communities. Ease some of the burden by offering them support.

Professional association management companies know how to ensure efficiency and organization. They can set your community up for lasting success. Read on to learn more about how management companies are key players in community development!

Roles of a Manager

A full-service association management company can save you valuable time and money. Here are a few tasks you can delegate once you hire an association manager.

Admin Duties

Your board volunteers can lose hours of their day to time-consuming administrative tasks. In fact, over 2.5 million members in the US dedicate 9.5 million hours of volunteer service to their communities every year. Hiring an association manager will save your volunteers time.

These tasks can include:

  • Assisting with the budget
  • Creating and maintaining reports
  • Coordinating board meetings
  • Answering phone calls and emails
  • Planning events
  • Creating agendas

Choose a company with years of experience managing HOA communities. They likely have processes in place to ensure efficiency. The tools they use can reduce human errors and increase accuracy.

Policy Enforcement

New local and federal housing laws are put into effect every year. If you neglect these changes, you could receive a fine. Unfortunately, your volunteers could lack legal experience or struggle to keep up with changes.

Your HOA manager can help you navigate these new changes. They'll also review your covenants, conditions, and restrictions. They can enforce these policies to ensure fairness throughout the community.

Financial Management

Neglecting to properly manage your community's finances can lead to problems. Already, over 60% of HOA residents don't think the board handles the finances honestly. Hire an association manager and allow them to act as a neutral third party.

They can execute financial tasks, create an annual budget, and maintain records. They can help you ensure the community's financial health.

Without help, you may need to increase your HOA dues. Residents could get frustrated.

Vendor Coordination

Hiring reliable contractors can benefit your community development. Routine maintenance will beautify the community, increasing property values.

Your association manager can gather competitive bids and coordinate with vendors. They'll ensure all maintenance projects are done in a timely manner.

Benefits of Managing HOA Communities

Hiring an association property manager can save your volunteers time and stress. That's time your volunteers can spend living in the community.

Choose a company that uses state-of-the-art technology. Their resources can ensure accuracy and streamline communications. Your board members can use an online portal to access information without delay.

You can also leverage your community manager's accounting and legal expertise. Their expertise can help you avoid stressful situations and fines.

Rely on Association Management Companies

Your board volunteers don't have to continue struggling alone. Instead, look into local association management companies. The best association managers can set your community up for success.

Look no further than PMI Manhattan Group. Our team has nearly 20 years of industry experience assisting with community development. Contact us today to schedule your consultation.