Bringing a deep understanding of HOA matters makes all the difference when creating a recipe for success in HOA management. It takes the right combination of effective communication, advisory support, and commitment to the long-term goals of each community.
Here are three services successful HOA management companies provide so your community prospers.
The list of administrative tasks involved in overseeing an HOA can be daunting. When looking for an Association Management company, you must ensure they are equipped to help your board tackle these duties. A competent Association Management company will align with your HOA’s bylaws and vision for the community on day one while regularly surveying residents to ensure they’re meeting their needs (and yours!).
Here is an extensive list of administrative tasks you can expect to be handled by a solid Association Management company:
Financial services are another factor to consider when hiring an association management company. From preparing regular financial statements to crafting annual budgets, finding a management company with years of experience with HOA community finances is critical.
Here is the kind of financial oversight services you can expect from an Association Management company:
The third service all successful Association Management companies provide will be ongoing maintenance. The primary responsibility of an association management company is to positively contribute to optimizing property values for its homeowners.
The community manager provides a “boots-on-the-ground” presence on behalf of the board while ensuring the community’s common areas are maintained properly. Here are additional services typically provided by an association manager:
NOTE: Not every association will choose to grant this responsibility to their community manager. At the end of the day, it’s up to the discretion of each board of directors.
Who doesn’t like a good bonus, am I right? The final thing to always look for when hiring an Association Management company is the quality of their management compared to the overall cost.
At Evernest, our clients can access most of our administrative and financial management services for a low per-door rate. We also perform additional non-routine services based on your community’s wants and needs.
Here are a few examples of non-routine services Association Management companies (like Evernest) provide:
Selecting the right association management team for your community is the most important decision affecting the success of your investment. The right management maximizes your residents’ quality of life and minimizes your regulator.
At Evernest, we help homeowner and condo communities maximize investment and residents’ quality of life while minimizing regulatory and operational costs. And we do it all for a reasonable monthly per-door fee. Contact us and see why dozens of communities trust us to deliver proactive management that leads to better value and happier residents.
Lucas is a Content Strategist for Evernest. You can find Lucas drinking coffee or eating tacos when he isn’t doing research or creating content. Lucas is a North Dakotan living in Austin, TX, with his wife and daughter.
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