Recent data shows there are over 344,000 community associations in the country, serving 73 million residents.
While they are all different, they all have one thing in common-they all require effective management. That's where a community association manager comes in. They oversee day-to-day operations and play a vital role in the success of an HOA.
And while the daily duties vary depending on the association, certain tasks are universal. Read on to learn more and discover how a community association manager benefits your HOA.
Financial Management
A community association management company handles the HOA's financial affairs. They collect dues, manage budgets, and pay bills and vendors. It's also their job to prepare accurate financial reports and ensure compliance with tax laws and regulations.
They help the HOA board members plan for future expenses and reserve funds. This may also include investing funds to maximize returns while reducing risk.
Maintenance and Upgrades
Another key duty of community association management is overseeing maintenance. They ensure that all the common areas are in good condition and any repairs are carried out efficiently.
They hire qualified contractors for needed repairs and upgrades. They supervise them to ensure a good job and results.
HOA managers also handle repair requests and complaints from residents. They'll even follow up to ensure that issues are resolved to satisfaction. This ensures a safe and attractive neighborhood while protecting the value of homes.
Enforce Community Rules and Regulations
HOA residents are usually required to adhere to certain rules and regulations. Association management is in charge of enforcing these guidelines.
This involves everything from properly maintaining homes to ensuring residents follow parking rules. Enforcing these rules goes a long way toward maintaining a high quality of life. It also helps protect the value of properties.
Data shows that nearly 4 in 5 single-family homes completed in 2021 were part of HOA communities. With that many people living in those communities, following the rules only makes life more fun.
Board Support
A fourth vital duty of a community association manager is to support the HOA board of directors. This is a group of elected volunteers who represent the interests of the owners and residents.
The community manager assists the board in fulfilling its duties. This includes setting policies and goals, making decisions, and overseeing governance.
They also provide advice, prepare agendas and minutes, and attend board meetings. This frees up the board to focus on big-picture issues.
Owner Engagement Management
Homeowners need to feel like they belong. A community association manager plays a crucial role in promoting this.
They plan fun activities that give residents an opportunity to interact. These include block parties, holiday-themed events, and garage sales.
They also encourage homeowners to volunteer for these activities. They even track attendance and ask for feedback to identify events homeowners like best. This helps create a strong, supportive community that benefits everyone.
Need a Dedicated Community Association Manager in West Cobb?
A community association manager provides tremendous value to an HOA. They allow the board to focus on oversight and the residents to enjoy an enhanced living experience.
For premier HOA management services in West Cobb, feel free to get in touch. Schedule a consultation to discuss how we can help your community thrive.
