It’s proven that most communities with a HOA show that the residents of the community are overwhelmingly satisfied with where they live. An effective HOA can really make a huge impact on its community. Hiring the right HOA Management Company to guide your board will ensure success with the residents quality of life.
To have an effective HOA, you need to have an effective HOA board. Boards are generally made up of volunteers in the community to take on the roles in addition to their day to day lives. This can become stressful or come with a lack of experience.
Lucky, there are resources to help alleviate some of the stress of being a HOA board member, provide expertise in HOA management, and give a peace of mind to the HOA board and the community.
Below are a few reasons why it’s worth it to hire a HOA management company.
1. Governance and Legal Expertise
One of the most complex issues HOAs face is staying up to date with CC&Rs and bylaws. With the board consisting of volunteers, it is hard to find someone who is an expert or who has the time to become an expert in HOA laws and regulations.
A HOA management company will provide legal experts to assist your HOA board. The HOA management company will keep your HOA up to date on current regulations and by laws and provide any legal advice.
Another benefit of hiring an HOA management company for legal matters is enforcing rules and regulations. Since board members are members of the community, it can become awkward if a board member has to notify their neighbor of a violation. Having a HOA management company to take care of this for you removes any tensions that could build because of this.
2. Financial and Administrative Responsibilities
Being the financial officer or financial adviser for a HOA comes with the duties of a full-time job. A HOA financial officer’s role includes annual and semi-annual budgeting, accounting, bookkeeping, and reserve funding. They must also collect the dues/assessments, current and past dues, and pay the bills and more.
This can be one of the most important and most stressful roles for the HOA board.
it’s advisable to leave the financial administration to a professional HOA association manager. A HOA management company has financial experts to take the heavy lifting of the financial duties off the HOA board. They can also assist in other financial areas such as hiring contractors and managing contracts.
3. Amenity Maintenance and Upkeep
Keeping community amenities up to date is a year-round task. Most likely your community will need to hire contractors for landscaping, building upkeep, pool maintenance, and other services to maintain the amenities that your community offers.
Searching for contractors, managing bids, keeping contracts up to date, and making sure expectations are being met is a lot for a HOA board of volunteers to take on.
A HOA management service will take on these responsibilities for you. They will make sure you are getting the best contractors for your budget. They will also ensure that community standers are being met and amenities are staying up to date.
4. Other Professional and Administrative Duties
There are a lot of other administrative duties that volunteers may not realize when taking on the role of a HOA board member. These duties can include keeping meeting minutes, organizing documents, keeping track of contracts, and ensuring legal documents are on hand and up to date.
With a HOA management company, these tasks will be taken care of for you. They will ensure all administrative duties are taken care of and that all documents are up to date and readily available.
5. More Free Time for HOA Board Members
Remember that HOA board members are usually volunteers that want to have a positive impact on their community. However, they don’t want to spend all their time on HOA needs.
Hiring a HOA management company will give time back to the people who volunteer to be a part of the HOA board. It will also give them more time to focus on the bigger issues, make plans, and keep moving forward without being tied down by the tedious duties that come with being a part of a HOA board.
Atlantic & Pacific Management can Help!
Working with an HOA management company can relieve some of the stress that comes with being a part of an HOA board. Companies like Atlantic & Pacific HOA Management provide over 40 years of experience in helping HOA’s thrive.
Dominic Cirillo leads the Pacific HOA division of Atlantic & Pacific Companies. He has served in this position for 10 years and continues to strive for excellence and the advancement of the company’s homeowner’s association department. firstname.lastname@example.org.
For more information visit Atlantic & Pacific HOA Management.