27% of Utah's homes are situated in an HOA.
If you're one of these homeowners, you may be wondering why your HOA isn't giving you all that was promised. HOA living is supposed to give you certain things, from high property values to community safety and comfort. An HOA is only as good as its leadership, however.
Most HOAs are run by a board of directors that make important decisions and tackle the day-to-day tasks that keep a community running. If your HOA board isn't lifting your community, it's time to hire association management.
Keep reading and we'll explain some of the roles and responsibilities of an HOA manager so you can figure out if your community needs one.
Vendor Coordination
One of the most important aspects of HOA living is the expectation of a well-maintained community. Community maintenance gives homeowners a safe and comfortable place to live, but it's more than that.
A well-maintained community is desirable to investors, which can drive property values up. Some HOAs see property values as much as 4% higher than similar homes outside of communities. If you want to enjoy this major perk, you need good vendor coordination.
HOA managers contract and schedule local vendors to take care of everything the community needs. It could be weekly garbage pickup or road repair once every couple of years. Whatever your community needs, HOA management will make sure it gets through good vendor coordination.
Compliance and Governance
All HOAs have governing documents that tell homeowners how to act in the community. Every HOA is unique in its rules, but many have clauses around allowing pets, quiet hours, and rentals.
Whenever you're trying to govern dozens of homeowners with a single set of rules, you'll have bad actors. An HOA manager can issue penalties to bad actors to keep the community aligned. They can also diffuse arguments between homeowners to ensure there's a level of harmony in the HOA.
Accounting Services
Arguably the most integral aspect of HOA management is accounting services. All homeowners pay their HOA fees, which are pooled together to pay for everything the community needs.
Many HOAs rely on the board of directors' treasurer to handle accounting, but these people rarely have accounting experience. An HOA manager has professional accountants on staff.
These people will handle the collection of HOA dues, bookkeeping duties, and budgeting. With good accounting, HOA dues will go further, so fee increases will be less common. It'll also help to keep the community cared for, which allows for property values to remain steady.
Get the Best Association Management in South Jordan
These are a few of the main roles and responsibilities of association management. If your HOA board of directors is overwhelmed by their tasks, an HOA manager can offer the support they need to help the community thrive.
To get the best HOA management in South Jordan, PMI Salt Lake is the answer. We offer comprehensive association management services including everything discussed here and more. Contact us today to learn how we can turn your community around.
