The myriad duties that must be attended to by an HOA can be overwhelming. It is challenging for a volunteer board of a common interest community to cover it all. That is where a professional community association manager can help. Let’s explore five ways a community association manager can help you and your HOA.
5 Ways a Community Association Manager Can Help Your HOA
A community association manager supports an HOA Board maintain oversite of state or local laws and regulations, common area maintenance, owner disputes, association meeting documentation, and financial reporting. Let’s look at each of these in a little more detail.
Law and Regulations The laws and regulations directly and indirectly impacting HOAs and common interest communities are vast and ever-changing. According to this Phoenix Property Management company, a community association manager helps your HOA navigate these choppy waters. They can advise about what your HOA may or may not do and whether an issue would benefit from further legal review. Additionally, community association managers can support the board through legal proceedings involving the HOA. If you want your HOA to be clearly on solid legal ground, you need to hire a community association manager.
Maintenance Maintenance of common elements and general facilities management is a significant part of a common interest community’s HOA responsibilities. A community association manager works with your board to plan, organize, and support both the regular maintenance and long-term projects. The best associations and community association managers also rely upon reserve studys. These studies evaluates the community’s physical components and provide a complete picture of your community’s reserve funding needs and long-term project plans. Maintaining a common interest community is more than just mowing the lawn. You need to plan as well, and that is where a qualified and professional community association manager can help.
Disputes Disputes are an unfortunate realty in many HOAs. In a community, there will be people who disagree or run into some trouble that needs to be addressed. A community association manager can support the Board as a sort of mediator in navigating disputes. Managers are also responsible for handling and documenting communication with your residents. Effective communication ultimately keeps the number of disputes down.
Meetings Regular meetings are central to the effective functioning of a community association. It is important to provide your residents with a space to ask questions, offer suggestions, and contribute to the decision making process. On top of everything else your HOA is doing, conducting regular board or annual meetings may not always be a volunteers highest priority. Community association managers are here to help. They can take care of the details of the meeting so that your board can focus on setting policies and determining priorities for the association.
Financials Finally, community association managers support a reliable and transparent administration of your community’s financials. Many HOAs face financial challenges. Unless you have trained professionals with specific experience on your board, keeping up with financial management can be daunting. Community association managers have the financial expertise to keep your community running smoothly. Desposits, payments, reconciliation and reporting are all general accounting tasks that can and should be completed by a community association manager.
If facilities management, financial management, and other associated duties are daunting to your Board, consider hiring a reputable management firm. Wise Property Solutions, AAMC® is an accredited HOA management firm that provides management plans, practical expertise, and professional guidance to East Tennessee communities in Knoxville and the Tri-Cities.