Imagine being in the market to purchase a new home and you come across a well-maintained neighborhood with freshly cut grass and trimmed shrubs. These amazing neighborhoods are made possible because they are part of what we know as homeowner’s associations.
What Is a Homeowner’s Association?
A homeowner’s association (HOA) is an association of homeowners in a neighborhood where owners must pay fees to cover the use and maintenance of common areas. Properties that are part of an HOA are governed under a set of rules that members of the association enforce.
If you are a board member of a homeowner association (HOA), your main responsibility is to enforce the guidelines that benefit the residents of your condominium, subdivision, or planned community. Every HOA is a self-governing organization in itself where all homeowners contribute to keeping their properties maintained.
Unfortunately, not everyone has the time or energy to be an effective HOA board member. This is where an HOA management company comes in.
What is an HOA Management Company?
An HOA management company is an agency responsible for handling all of the daily operations relevant to an association. Volunteer board members who have jobs and other obligations normally lack the time and expertise to take on their association responsibilities. HOAs that don’t use the services of an HOA management company are called self-managed HOAs.
With that said, there are essential administrative functions that associations need to operate and an HOA management company can help them in their time of need. These are the top responsibilities you can expect from these companies:
- Managing billing and collections
- Enforcing property rules and bylaws
- Maintaining and improving their assigned communities
- Providing an array of accounting services
Benefits of an HOA Management Company
Now that you know what an HOA management company does, consider the benefits you can get by working with them.
- Years of experience: HOA management companies bring with them many years of professional experience handling concerns regarding association properties. They know how to interpret and enforce the rules effectively so that all affairs can proceed according to schedule.
- Licensed experts: The managers assigned from an HOA management company are all licensed professionals with specific expertise in property management. This means that they are protected by law in handling all matters of the HOA.
- Administers community rules: An HOA management company clearly defines and updates its rules so that the community is in compliance with the latest legislation of the state. They also administer decisions with a rational mind, ensuring that the implementation of all laws is done accordingly.
Get Help From an Experienced HOA Management Company
At Innovative Management, we provide professional community association management designed to ensure that your properties are organized and managed by experts. If you’re looking for licensed HOA management specialists that will handle your association concerns, we’re the right agency for you. Contact us today to get started.