If you live in a Coral Springs HOA, association property management should be on your radar.
There are upwards of 55,000 HOA managers looking after the 370,000 community associations in the country. If you're going to find the best one to make your community a better place to live, you need to understand what these services provide.
Today, we'll tell you 5 of the biggest responsibilities of association property management. Knowing what to expect will help you choose the right one for your Coral Springs HOA, so keep reading and get ready to turn your community around.
1. Support Board Members
When you hire an HOA property manager, the goal is to have them support your board of directors. An HOA board is made up of volunteer homeowners who want the best for the community. Being volunteers, however, they're not always equipped to handle the business of running an HOA.
HOA managers are equipped with the experience and expertise to tackle everything from legal documents to financial management. They don't decide the direction of the HOA, but they help it achieve its goals.
2. Foster a Healthy and Safe Community
HOA managers take care of community maintenance to ensure it's safe and healthy for homeowners. Maintenance includes things like regular garbage removal, road repairs, and landscaping in common areas.
To do this, they come with built-in contacts with local vendors. Vendor coordination is the downfall of many communities that see their common areas fall into disrepair. An HOA manager will never let this happen.
3. Improve Community Amenities
When you have your annual community-wide meetings, you discuss things like governance and upcoming developments in the community. HOA members should never wonder where their money is going. A community should always be looking at how to improve its amenities.
Not only do community association managers know how to run organized and effective meetings, they can help create actionable goals. Once improvements are decided upon, the community manager can go to work ensuring it happens and the community is satisfied.
4. Enforce Rules and Regulations
Built into every HOA are governing documents that outline the rules and regulations that all homeowners need to live by. This is meant to create community cohesion, but there are always going to be bad actors.
HOA board members often have difficulty enforcing these rules on their neighbors. As a third party, your HOA manager can issue penalties to bad actors and diffuse contentious situations between homeowners.
5. Improve Community Finances
All HOA members are responsible for paying their HOA dues, much like a condo owner does with their condo association. If the HOA leadership is smart with the money, you should have higher property values and the lowest possible HOA fees.
Accounting and budgeting should be done by a professional. Your HOA manager will have experienced accountants on their staff to maintain and even boost the financial health of the community.
Get the Best Coral Springs Association Property Management
These responsibilities are just scratching the surface of what association property management brings to the table. Now that you have an idea of what these services do, you can make sure you're getting the very best for your community.
If your Coral Springs community needs help, look no further than PMI South Florida. Contact us today to learn more about our services.