Living in a community with an HOA is a popular choice in America. In fact, there are more than 74 million people who currently call one home. HOA’s offer many benefits, including ensuring your area stays safe, well-maintained, and populated. They can give you peace of mind about where you live.
However, running an HOA can feel daunting. For that reason, many communities decide to hire professional community management instead. With a professional HOA management company, you can take HOA tasks out of the hands of homeowner board members and put them in the hands of pros.
What is an HOA Management Company?
The HOA collects money from community members. Then, those funds are allocated toward community expenses. The HOA board members manage the money and ensure all essential tasks get taken care of. This is a vital governing body—but most rely on volunteers to get the job done. Volunteers usually have good intentions, but they likely also have other commitments and limited time to do the work, which is why considering hiring an HOA management company is the best alternative for HOA board members.
HOA management companies are businesses staffed with HOA-trained professionals who come in and can carry out the policies and procedures of the Board, coordinate with vendors and homeowners, and ensure compliance with the governing documents. This ensures that HOA’s manage money properly, finish all required tasks, and don’t feel unnecessarily stretched by an unpaid job. There are many benefits of HOA management companies. Here are some to consider:
- Significant Community Appeal: Running an HOA means deciding who will handle tasks like landscaping, designing aesthetically-similar homes, setting up utilities, and more. Then, you have to hire vendors. Professional community management companies have established relationships with firms in your area and easy access to help Board’s make better, more informed decisions.
- Professional Financial Management: Managing money is a huge responsibility for an HOA. When you hire an outside company, you can reap one of the best benefits of HOA management: your money is handled correctly, and all expenses are covered (with no squandering). Also, HOAs often have to solicit funds and fees from neighbors—and this can be awkward if you have personal relationships with people who haven’t paid or feel unhappy about contributing. Professionals can handle it like a business transaction and take pressure off personal relationships.
- Legal Knowledge: Many specific laws apply to the way HOA’s work. One of the most valuable benefits of HOA management is that the professionals who do it full-time have extensive knowledge of these always-evolving laws and know when to refer to your legal counsel for legal advice.
- More Straightforward Community Rule Enforcement: HOA’s establish and enforce community rules. Leave rule enforcement to a third party and ensure everyone in your community gets along and stays safe. Avoid uncomfortable power dynamics in your community.
- More Time and Less Stress for Board Members: Volunteer HOA members care about their community but don’t get paid for the time they devote to running the HOA. So, the volunteer work can add stress for board members who already have packed schedules and day jobs that require time and effort. The HOA management company can take the complex community jobs off HOA board members’ plates and remove grueling work from people’s already-too-long to-do lists.
- Increased Property Values: At the end of the day, the benefits of HOA management companies are also financial. HOA management companies add value to charming and well-run communities with happy residents. This increases desirability—which, in turn, increases property values.
The Helsing Group for Professional Community Management
If you are looking for help managing your HOA, contact our team of experts today. Here at the Helsing Group, we specialize in professional community management services. When you hand HOA management responsibilities to our pros, you can reap the benefits of HOA management and ensure your community functions like a well-oiled machine.