Texas has the third-most number of community associations (21,680) in the US! About 74.2 million Americans live in a homeowners association. However, the most successful HOAs don't operate alone.
With help from an Austin, TX association management group, your community can thrive! You can save time, avoid conflict between community members, and improve fund allocation.
What exactly will an HOA management company do for you? Read on to find out!
Site Management
Ensuring your community members follow guidelines and policies can help your HOA maintain order. It can also help you avoid potential disputes or stressful situations. These rules are put in place to make your community a great place to live.
Your HOA community manager can ensure everyone adheres to the rules.
Proper site management can show future members the benefits of living in your community. You can protect the community's property values while increasing residency. Allowing a third party to enforce these rules can help you avoid situations with friends and neighbors.
Bills and Collections
Ensuring HOA funds are properly allocated is essential to your community's future. However, community members might not feel comfortable with peers handling the finances. In fact, fewer than two in three (64%) of HOA residents feel that their HOA honestly handles its finances.
Rely on an experienced HOA management company to handle your community's finances for you. Relying on a neutral third party could help everyone feel more comfortable.
Your association management company can handle:
- Delinquent accounts
- Issuing fines
- Billing residents
You can't always anticipate renovations, repairs, or projects. Your property manager can create a reserve account to ensure you're ready for unexpected costs.
You can also ask your property manager to send regular financial reports. These reports will list how money was spent, fund allocation plans, or future expenses. Reviewing these reports can help your HOA board make more informed decisions moving forward.
With help from an association management company, you'll feel confident in your community's financial health.
Vendor Management
To maintain your beautiful community, you'll need to hire Austin landscaping and repair companies. An HOA manager can vet, hire, and schedule these contractors on your behalf.
They likely have connections with local contractors already. Leveraging these relationships can help you find the best deals.
You'll have peace of mind knowing maintenance requests and repairs are being completed on time.
Admin Duties
Your HOA management company can handle daily admin duties. For example, they can respond to membership inquiries, phone calls, and emails. They can also communicate with authorities, insurance providers, and contractors.
It's important to communicate with community members in a timely manner. Otherwise, a lack of transparency could lead members to leave. Your property manager can send regular newsletters or emergency updates as needed.
They can also organize events or membership meetings.
Hire an Austin Association Management Group
You don't have to rely on community members to manage your HOA. Instead, work with an association management group this year. Relying on their expertise will help you avoid stressful situations.
Need help with HOA tasks? We're here for you.
Contact PMI Silicon Hills to discuss our services.
