Are your HOA board members and volunteers getting enough sleep? If they're juggling too many tasks for your homeowners association, they could burn out. Nearly 30% of adults say they're so stressed most days that they can't function.
To support your board and volunteers, consider hiring an association management company. They can minimize your community's stress load and boost efficiency.
Not convinced you need an association manager? Read on now to discover the benefits of their services.
Collect HOA Dues
Your community's financial health is essential to the association's overall success. Unfortunately, community associations may need to increase dues by 15% to keep up with inflation. Your community members may get frustrated if HOA dues continue to rise.
Work with an HOA management company that offers financial services. They can help with:
- Preparing and maintaining financial records
- Processing HOA dues and fees
- Preparing and filing tax returns
- Handling payroll for HOA employees
- Assisting with financial planning
- Providing financial reports to the board of directors
- Managing the HOA's budget
- Issuing delinquent notices
They'll ensure your HOA's financial affairs remain organized. They can provide residents with updates to ensure transparency.
Collecting late HOA dues from a neighbor can feel awkward and stressful. Allow your association manager to act as a neutral third party.
Choose a company that uses state-of-the-art technology to streamline processes. An online portal can keep the community informed about how the HOA board utilizes funds.
Site Management
Maintaining a beautiful community can increase property values and help you attract new residents. Your association manager can gather competitive bids from local contractors. They'll keep up with the landscaping and maintenance as needed.
They'll keep the grounds properly maintained by organizing common areas and storing equipment. Your association manager will inspect the community for violations to ensure everyone remains compliant.
Policy Enforcement
Your association manager will review your community's covenants, conditions, and restrictions. They'll enforce these guidelines on the board's behalf. Otherwise, enforcing policies on friends and neighbors can feel daunting.
Ensuring community-wide compliance will make your community a better place to live. If there are disputes, your association manager will step in.
Office Administration
An HOA management company can handle day-to-day administrative tasks. This includes:
- Creating and maintaining records
- Answering phone calls and emails
- Assisting with accounting and invoicing
- Planning agendas and events
- Coordinating board meetings
They can even help you increase attendance at meetings and events. They'll use an online portal to enhance communication between the HOA board and residents. With their help, your community can become a more harmonious place to live.
Hire Your Association Management Company
Your HOA board and volunteers don't have to manage the community alone. Instead, request help from an association management company. Their range of services will ensure your community operates more efficiently and harmoniously.
Our team of property managers at PMI East Bay has 20 years of property management experience supporting communities. Benefit from our award-winning strategies and state-of-the-art technology.
Ready for a more efficient community? Contact us today to request our HOA management services.
