There are now over 20,000 HOA communities in Texas, but not all of them are pleasing their residents.
Homeowners' Association (HOA) living is supposed to come with a particular set of perks. If you're not receiving them, it's often due to poor HOA management by your board of directors. An HOA board is made up of volunteers who are often inexperienced and ill-equipped to handle the responsibilities of running a community.
If this describes your situation, it might be time for HOA management services. Keep reading, because today we'll explain what these services entail and how they can help you improve your community's well-being in 2024.
HOA Accounting
One of the most important tasks for HOA management services is handling accounting duties. All HOA members pay their monthly dues, which are combined to pay for everything the community needs.
If money isn't managed well, your HOA dues won't go as far as they should and they'll eventually need to be increased. This is one of the biggest issues facing poorly run communities, as it creates a lot of tension between community leaders and residents.
A good HOA manager will have experienced accountants on staff. These people will handle all fee collection, bookkeeping, and accounting duties to guarantee the financial health of your HOA.
Maintenance and Repairs
Another essential aspect of HOA management is maintenance coordination. A well-maintained community is important for the health, safety, and comfort of the residents. It also plays an important role in boosting investor interest.
When investors want to buy property in your HOA, property values will rise. Many desirable associations have property values up to 4% higher than non-HOA properties.
Community maintenance and repairs depend on strong vendor relationships and coordination. HOA management will come with existing vendor relationships. Whatever your community needs, be it garbage pickup or seasonal landscaping, a vendor will be scheduled.
Running HOA Meetings
HOA meetings are important for community building. They bring together the community to discuss important matters, like amendments to regulations and new amenities. If you don't have organized meetings, nothing good will result.
HOA managers know how to run such meetings. They'll make sure every homeowner can voice their opinion. Once meetings finish, they have the expertise to enact the community's wishes.
HOA Rule Enforcement
All communities are governed by rules and regulations that homeowners must live by. Some HOAs have rules around allowing renters and pets, while others have rules around what your landscaping can look like.
An important task for any HOA manager is to enforce these rules. They'll punish bad actors and diffuse arguments between homeowners. The result is a more harmonious community that benefits everyone.
Get the Best HOA Management Services in Bedford
These are only a few of the many responsibilities of HOA management services. Now that you know how they can improve your Bedford community it's time to tell you about getting the best HOA manager in the state.
PMI Metroplex Properties is part of the largest property management firm in the country. We offer all of the HOA management services discussed here and then some. To learn how we can directly impact your community, contact us today.
