As the name implies, an HOA management company manages and oversees your homeowners association. HOA management companies manage the daily operations of the HOA, including attending meetings and taking minutes, supervising maintenance and repairs, providing legal advice, and more.
Hiring an HOA management company for your HOA comes with many benefits that can help you and your HOA Board members. Let’s dive into a few of those benefits below.
Financial Administration
The financial side of running an HOA is one of the biggest tasks for HOA Board members to handle. Talking with residents and explaining why you need to collect more fees or collecting overdue fees from neighbors is usually a task that no HOA Board member wants to tackle. By hiring an HOA management company, you have a professional third party to have difficult conversations on your behalf.
Experience
HOA management companies come with years of experience managing different types of HOAs. HOA laws are constantly changing, so having someone in your corner who is well-versed in the law might be useful. HOA management companies have years of experience dealing with different types of HOA issues, so they’ve likely been through it before and can provide help.
If you’re looking to implement HOA systems behind the scenes, your HOA management company can help you figure out which systems will work best with your HOA. They can tell you which software and technology are worth investing in to ensure your HOA runs smoothly.
Community Appeal
To ensure your HOA looks appealing to the community, having the right vendors and service providers in place is important. HOA management companies have many tried and true contacts that can help with repairs, maintenance, and more. Painting yourself in a good light in the community will help bring more tenants to your neighborhood, which HOA management companies can help with by conducting security checks, gathering references, and more.
If your HOA Board needs help with the benefits of hiring an HOA management company or any other association issues, contact Prism Realty Management. Give us a call at 512-676-5842 — we’d be happy to talk to you about who we are, the services we offer, and our process.