A homeowner's association (HOA) may be something that your community needs. And considering that over 370,000 are in the United States, needing an HOA is not uncommon.
If you choose to form an HOA, you will need someone to help manage it, especially if no one in your community has experience. That is where an association manager comes in.
What do association managers do for an HOA? Here are some of their biggest responsibilities.
Keeping Track of Maintenance Needs
Property managers can be very useful for keeping track of routine maintenance needs. They are often experts at when you should conduct property inspections and have professional contractor contacts for all your maintenance needs.
They can also help give you an idea of how much money you need to allocate toward maintenance. Homeowners typically have to dedicate 1% of their home's value annually towards maintenance.
This can be a big advantage for your HOA because if you leave maintenance issues unchecked, they can create much bigger problems for your community. Make sure you have someone that is aware of what the typical maintenance needs are for an HOA.
Being an Enforcer
Another thing that an association manager can do is enforce the rules that your HOA board comes to an agreement on. In other words, this is the person that is responsible for making sure that the other homeowners follow the rules that you guys put in place.
An example can be a homeowner repeatedly failing to pick up after their dog. If an association manager notices this happening frequently, they can place fines on that homeowner until the culprit addresses the issue.
Another example is a homeowner that wants to paint their house a different color. An association manager can let that homeowner know if there are any restrictions about what color the house can be in this neighborhood.
Finally, you have to remember that an association manager from a property management company is there to play an advisor role. That means your board gets to make the final decisions for the HOA. At the same time, you are recommended to listen to advice that the association manager may have.
This advice may be on how to allocate funds, if there should be a change in HOA fees, what rules homeowners may want to change, and more.
Hire an Association Manager Today!
These are some of the key responsibilities of an HOA association manager. You want to work with an expert who knows how to keep track of maintenance needs, isn't afraid to enforce your rules, and can advise you on HOA matters when you need help. Ultimately, these professionals can save your HOA a lot of money in the long run.
Need an HOA manager in New York? PMI New York City offers professional services for communities in NYC and surrounding areas. Message us here to get started.