Thursday 22 October 2020

HOA Management Services – How Can They Add Value To Your Property

Homeowners’ association (HOA) refers to self-governing organizations that occupants condominiums or high-rise apartments. People who buy properties in their housing estate automatically become members of the HOA. They elect a board of directors from among themselves during the annual or semi-annual community meetings. The board members take on the responsibility of carrying out the following functions:

·         Maintain the common areas of the housing estates like community centers and gyms

·         Collect maintenance charges from the occupants

·         Enforce strict laws to ensure everyone within the estate lives in harmony

·         Mediate and resolve petty property-related disputes among the occupants

·         Hire and appoint plumbers, electricians, and other service providers

·         Organize social events on special occasions for the occupants of the estate

·         Impose fines on occupants who violate the rules and regulations of the HOA

Why hire companies providing HOA management services?

The residents who choose to become board members of a homeowners’ association are volunteers. Most of them might not have the skills, qualifications, or experience to efficiently run their housing communities. They come from diverse backgrounds and are not paid for the services they render to HOA. Moreover, they have day jobs or run their businesses like other occupants. They can’t devote all of their time to discharging their duties as board members. This is why they choose to hire reliable HOA management companies to take up property management’s full-time responsibilities. 

Services of HOA management companies

Companies offering HOA management services to the occupants of high-rise apartments are responsible for-

·         Enforcing the bylaws of the homeowners’ association,

·         Scheduling the community and board meetings,

·         Preparing the yearly budget of the housing community,

·         Maintaining the bank accounts and finances of the HOA,

·         Appointing reliable contractors to carry out essential building repairs,

·         Issuing delinquent notices to occupants for violating HOA’s rules on behalf of the board,

·         Preventing vandalism and providing 24/7 security of all the occupants,

·         Informing and educating board members on federal and state laws affecting the HOA,

·         Collecting service charges from the occupants on the board’s instructions,

·         Taking legal action for the recovery of outstanding dues from the occupants,

·         Ensuring the proper upkeep of buildings and common areas,

·         Organizing social events which the board members approve, and

·         Disposing the garbage and ensuring the general cleanliness.

Advantages

The occupants of housing estates and condominiums enjoy the following benefits when they hire reliable HOA management companies:

·         Ensure the occupants live in harmony with each other,

·         Resolve disputes and complaints among the occupants without favoritism,

·         Provide expert help to the board members on property laws affecting their community,

·         Oversee the work of building contractors and vendors,

·         Provide 24/7 surveillance to prevent illegal activities,

·         Handle financial, administrative, and building maintenance issues, and

·         Help board members in carrying out their duties efficiently.

Hiring reliable companies offering HOA management services helps board members run their homeowners’ associations efficiently. Their professionals ensure the occupants of the housing community live in a friendly atmosphere by resolving their disputes. They provide 24/7surveillance to ensure everyone is safe, and no untoward incident occurs. The experts even handle the financial, administrative, and maintenance issues on behalf of their clients.

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