Homeowners associations provide a range of benefits that often make neighborhoods much better for all residents.
This is only true, however, if the HOA board members can stay on top of all of their responsibilities. In many cases, they're unable to do this. They often become overwhelmed and there are some tasks which they simply don't have the experience for.
This is where an association management company comes in. They can take on various responsibilities to help ensure everything runs smoothly and make sure residents get the most benefits from living in their community.
Let's take a closer look at the roles and responsibilities of an association manager in Katy, TX.
Finances and Accounts
A homeowners association is responsible for managing community finances, but this is typically very complicated. Board members rarely have the relevant experience, so they can struggle with this.
Association managers have the relevant training and experience to handle this. They can collect overdue assessments, explain fee increases, and organize budgets effectively. They'll keep the risk of mistakes to a minimum, and may even be able to improve efficiency in certain areas to reduce expenses.
Common Area Maintenance
HOA communities typically have various communal areas and facilities. Common examples include parks, gyms, swimming pools, and clubhouses.
Residents are responsible for maintaining their own properties, but the HOA handles all maintenance for these common areas. This is another responsibility that an HOA manager can take on.
They tend to have a lot of experience organizing such maintenance, so they can contact the right companies when work is needed. They often have good relations with these companies, so they can sometimes get better deals on maintenance and repair services, helping to save community funds.
There are various policies that an HOA board will establish for all residents. These are to ensure residents aren't disturbing each other or doing anything to make it a less enjoyable place to live. The problem with this is that board members sometimes have difficulty enforcing policies on people they know personally.
An HOA management company won't form personal bonds with the residents. As such, they won't have the same issues enforcing HOA policies. This helps them keep things fair and ensures the community remains a desirable place to live.
Similarly to managing finances, any legal tasks can be difficult for HOA board members. They usually don't have any relevant legal experience, so if any issues arise, they may not know how to best proceed.
HOA managers have a much more in-depth knowledge of property law. In the event of a lawsuit, they'll be able to guide your HOA board to help ensure the best steps are taken. They can also keep the board up to date with important information on new legislation that may be crucial to them.
Working With a Professional Association Manager
An association manager can prove very beneficial for any HOA community. They can offer legal and financial assistance, oversee maintenance, enforce community policies, and more.
PMI Prestige is a professional real estate management company based in Katy, TX. Our association managers understand that every community is different and can work to serve your specific needs. Take a look at our association management page to learn more.