You've heard the horror stories of people sharing their HOA-related woes. A Rocket Mortgage survey showed that 43% of people like living in an HOA; unfortunately, 57% do not. Rocket Mortage reports that nearly 60% of single-family homes and 80% of houses in subdivisions reside within an HOA.
It's reasonable for homebuyers to want peace of mind - something they may find with association management services. It makes sense that professional property management services can better handle the responsibility of looking after your West Cobb neighborhood than the average citizen, right?
We don't expect a few sentences to change your mind, at least not yet. Keep reading to learn three key benefits of association management services.
Expertise and Experience
Federal, state, and local rules determine what an HOA can and cannot do. Associations must follow certain laws, like the Georgia Condominium Act and the Georiga Fair Housing Law. While a board member should know these laws, they may miss certain details due to lacking legal experience.
A community association management team won't miss the small details; they'll have years of hands-on industry experience and expertise. Good HOA management support will have a track record of helping diverse communities and meeting their specific needs. They can help run anything from a condominium to a resort neighborhood legally and safely.
Efficient Financial Management
Experience makes a huge difference in financial matters. Managing money is more than budgeting, you need proper accounting. Accounting is recording, examining, and reporting the association's finances. It helps the HOA understand their financial health.
Perhaps the most important thing is that efficient financial management helps decision-making. It's simpler to allocate a project budget if you understand money flow. Efficient financial management has other benefits, like:
- It makes filing taxes easier
- There's a detailed record of expenses
- It makes collecting dues easier
- Provides an objective buffer between board members and residents
- This can limit disputes over dues and late fees
Better Communication
The final benefit we'll discuss is easier communication. Some of these administrative services include addressing membership inquiries and communication with authorities. The HOA management support team also:
- Select contractors and insurance vendors
- Observes local, state, and federal laws
- Organize and attend HOA meetings
The property management services may also have an online portal. HOA members and residents will receive announcements and notifications simultaneously. Transparency will improve if everyone knows what's going on.
Understanding Association Leadership Benefits
Your HOA is there to help improve your neighborhood, but it can't do that if it doesn't have the best management possible. Homeowners don't have to dislike their HOAs. Association management services ensure residents can trust their homes and communities are in proper hands. PMI Cornerstone can help grant that peace of mind.
We offer professional neighborhood management solutions and brokerage services across Cobb, Dekalb, Douglas, Fulton, and surrounding areas. You can trust our HOA support management team with accounting, vendor coordination, inspections, maintenance, and more.
Are you ready to get the most out of your homeowner's association? Contact us, and we'll help your residents love their HOA.
