Real Estate Investment 101: Getting Started

What HOA Management Can Do For Your Community

Is the homeowner association in your community run by the residents? If so, you may be looking to make a change to how things are run. An HOA management company is a great alternative, since they offer the following benefits you may not be aware of.

Vendor Connections

Any time a major construction or renovation needs to be done around your community, half the job feels like researching which company you will use. You must do your due diligence of looking into different pricing, reading reviews, and taking time to get estimates. All of these things can take up time that can be spent on other things.

An HOA management company has experience working with vendors in your area, because they manage other communities just like yours. They've done the research and have preferred vendors that they work with, so you can get to work on your project immediately. Professionals like landscapers, pool maintenance, and paving contractors that you need to get things done.

Dues Collection

One of the most difficult parts of running an HOA with community members is managing the dues that are owed. Nobody likes asking for money, especially when it is from neighbors in your community that you live with every single day. When those people are late on payments, it can make it harder to collect the money that the community needs.

HOA management can handle the whole process of collecting dues for. It will make the collecting process less personal, since money no longer needs to go to the community treasurer. An HOA management company can even set up automatic withdrawals from a checking account to make the process as streamlined as possible. If you remove the need to write a check every single month, residents will be less likely to think about the dues that are owed.

Legal Expertise

Managing a community goes beyond enforcing the rules set forth by the community. There are many legal aspects that must be followed as well. It is impossible for a resident to be familiar with all of the laws that must be followed, which can cause mistakes to be made along the way.

Using an HOA management company means that you'll get the legal expertise that you need concerning your community. This includes the requirements that an HOA must meet of keeping financial records, all the way to consistent rule enforcement across the community as a whole.