The number of new HOAs in the United States is growing each year, with an estimated 8,000 new HOAs formed yearly. Unfortunately, some of those may not see success. You need a great HOA manager to manage the community and ensure everything is taken care of.
So, what does HOA management excellence entail? Let's examine some of the responsibilities and best practices for community management.
Set the Rules
One of the most important parts of HOA management is helping to set the Charlotte HOA guidelines. These are the rules that help people understand their responsibilities:
- Maintaining their property
- Making property changes
- Interacting with neighbors
The HOA manager and the board members will oversee the rules and ensure all residents stay in compliance. If necessary, they will perform rule enforcement actions to make residents comply with the rules. This helps maintain a minimum standard in the neighborhood, maintaining or increasing property value.
Manage Maintenance
It isn't on the residents to maintain the entire community in an HOA. Their primary responsibilities are their homes and properties. The HOA is responsible for maintaining common areas using the best property management best practices.
One of the best ' for managers is to find experienced workers to handle maintenance. They will coordinate with them to ensure regular maintenance occurs and that resources are available to handle emergencies.
Engage the Community
HOAs aren't very effective if they don't act in the best interest of the residents. Unfortunately, there may be some situations where residents aren't engaged in the HOA process and make their concerns known.
An experienced HOA manager will employ tactics to engage the community, such as:
- Using transparent communication
- Creating agendas
- Holding flexible meetings
Doing this allows managers to learn what the community wants and take action based on what they learn. It helps increase satisfaction with the HOA and keeps residents around longer.
Money Management
It takes a decent amount of cash to run an HOA. Workers are expensive, and emergency maintenance can occur at any time. Without a cash reserve and a budget, HOAs may not be able to serve the community properly.
A manager is responsible for keeping this budget. They will determine how much cash comes into the HOA each month and set a budget for maintenance. They will then set aside cash to build a reserve for emergency situations.
Doing this ensures there is always cash available and residents don't experience unexpected assessments to deal with problems when the HOA doesn't have money.
Find a Great HOA Manager
Your HOA manager can be the difference between a successful HOA and one that struggles to meet the demands of your neighborhood. Great managers have HOA management strategies that encourage resident involvement and ensure everyone has a say in what happens. Now that you know the responsibilities of a manager, you know what to do or look for when taking on this responsibility.
Hiring a professional manager can give you the help and community management insights to make your neighborhood great. At PMI Queen City, our HOA services can help you run an efficient HOA. Reach out today to speak with our HOA experts.
