Having the help of an association property manager is a great idea for any type of real estate investment that you have. These associations are designed to help you keep your property levels high and to look after the interests of the people in the community.
Today, 63% of condos are run by Homeowner's Associations (HOAs). Buyers appreciate the backing of HOAs, which is a big reason they go out of their way to join them.
The tips below are worthwhile when you're looking for an association property manager who can look out for you.
They Organize and Run Meetings
First, HOA professionals are important because HOA boards must regularly hold meetings to keep things organized and governed. Association Management Companies are helpful because they set regular meetings, create agendas, and can take minutes and build archives.
An HOA management company can also set you up with the technology that you need to record, broadcast, and archive the meetings. They can assist you with marketing as well, to get more people out to the meetings to increase participation.
They Educate and Empower Your HOA Board
One of the best reasons to work with association managers is that they educate and empower your board members. Joining an HOA board is a voluntary position, and often consists of people who have never held such a position before.
The management will teach the board members what they need to know so that they can be productive and helpful. An Association Management Company can also help you put together an HOA board if you don't currently have one. This includes creating a charter complete with rules and regulations.
By having these protocols in place, your board will be in a better position to help the HOA community so that everyone benefits.
HOA Pros Secure Vendors
Vendors make or break HOA communities. When you have the assistance of Community Association Management professionals, they will help you find the right deals and secure the contracts.
These professionals will look into the most cost-effective deals possible so that the HOA can be good stewards of its cash reserves. Finding the right landscapers, lawn care professionals, repair contractors, painters, cabinet makers, and other professionals. These pros can do their due diligence and help you secure the contracts that are ideal for the HOA now and for the long term.
Managers Handle Fines and Invoices
No matter what, a community association management company needs to have the power to enforce rules. This happens through issuing fines, liens, and other penalties.
Your association managers will also help to put together invoices that keep track of accounts.
The Importance of an Association Property Manager
Having the help of an association property manager can benefit your property in so many ways. If you run an HOA, get the help of pros who can help.
PMI Cornerstone is the company that you need to turn to when you need a credible association property manager. Send us a question using our form or call us at 404-585-0705.
