What if your HOA volunteers could sit back and finally take a breath? They wouldn't have to rush to prepare financial documents, argue with neighbors about delinquent fees, or feel burdened with an ongoing to-do list. With community association management services, it's possible!
Hiring an on-site community management company can minimize the burden on your volunteers. Instead, you can set your Oakland community up for ongoing success.
Not convinced? Read on to discover the benefits of hiring an HOA management company today!
1. Protect Your Investment
Hiring an HOA property manager will allow you and other community members to protect their investments. Your HOA manager can ensure your community remains beautiful and well-maintained. Their services can cover:
- Common area inspections
- Vendor insurance tracking
- Obtaining competitive bids
- Work order management
- Maintenance plan management
- On-call maintenance
- Architectural request tracking
They can hire vendors to complete maintenance requests or to update the landscaping. These services can make your community more attractive and therefore a more desirable place to live. The property value will rise as a result.
About 99% of realtors claim curb appeal can help properties fetch a higher price on the market. Improving your community could boost a home's sale price by 7 to 14%.
People develop their first impression of your community in one-tenth of a second. Improving the community's aesthetic appeal will help you make a strong first impression on future members.
2. Manage Finances
Homes in associations have a collection value of $11 trillion. Monthly HOA fees average $170, though they've increased across the nation recently. If you're struggling with your community's finances, consider hiring an HOA management company.
Financial management services can include preparing the budget, processing dues and fees, and assisting with financial planning. Outsourcing to an HOA management company could help community members feel more comfortable. A third party can handle the finances instead of an inexperienced neighbor.
California has the highest number of associations (over 50,000) in the US. If prospective members find out the community is struggling financially, they'll turn to another neighborhood. Keeping your community financially stable is essential.
3. Navigate Regulations
New laws and regulations are put into effect in California every few months. Ignoring new laws could lead to hefty fines. Your HOA property manager can help you navigate these new regulations.
With their help and expertise, you can remain compliant. If your HOA board lacks anyone with legal experience, it can feel stressful to navigate these changes.
They'll also help you enforce rules within the community, including rules for holiday decorations.
4. Ongoing Communication
It's important to remain transparent with your community members. They expect regular updates regarding events, maintenance projects, and how their fees are used. Your HOA property management can help you remain transparent.
For example, they can increase attendance at HOA meetings.
Choose an on-site community management company that uses the latest technology. Their online portal can help you communicate in real-time. Members will have access to information and data without delay.
Invest in Community Association Management
Your HOA volunteers don't have to struggle anymore! Instead, consider requesting community association management services. With help, you can set your community up for continuous success.
PMI Oakload has deep roots in the Bay Area. Our association and community management company can help your community grow! Contact us to discover how we can support your community.
