Texas is home to about 23,300 homeowner and condo associations. This covers around one-third of the state's residences.
Living in an HOA can be difficult without great leadership. Many homeowners associations across the country struggle to meet members' expectations. If you live in one of these subpar communities, it's time to reevaluate your HOA best practices.
Today, we'll look at some effective homeowners association management strategies. Keep reading and employ tactics that help your community thrive and keep all homeowners happy.
Clear Lines of Communication
An important aspect of community management is communication. Everyone in the property association has to pull in the same direction to accomplish common goals. You'll never get anywhere if everyone has different ideas of how to proceed.
HOA meetings are where you can get everyone on the same page. During these regular meetings, you can bring anyone who wants their voice heard together to decide on important matters. These include things like choosing new amenities and amendments to governing documents.
Our advice is to always keep meetings organized and give everyone a chance to voice their opinions. Stay on topic and keep good notes so that you always get something out of these meetings.
Proper Financial Management
Poor accounting is a common issue among HOA communities. HOA homeowners pay their HOA dues and should experience a wealth of association perks. When there's poor financial management, they won't get these perks.
When you hire a professional property management group, you'll get professional accounting. Experienced accountants will handle fee collection, bookkeeping, and budgeting. If there's a priority on financial management, the HOA can thrive in countless ways.
Delegate Maintenance
Maintaining a community shouldn't be a community member's job. This is something that requires professional assistance from local vendors.
Good HOA management involves vendor coordination. Contract local professionals and make sure you schedule their services as needed to keep the community maintained.
When an HOA is well-maintained, you'll have safe and comfortable community members. You'll also have higher property values as more property investors show interest in the community.
Establish the Rules
Governance is a crucial aspect of running an HOA community. All communities have governing documents that outline the HOA rules and regulations. Homeowners must abide by these or face serious fines and penalties.
Ensuring homeowners comply with the rules can be tricky. If you're not firm and consistent with all homeowners, you'll lose the trust of the community. Deal with bad actors accordingly and everyone will know what to expect and stay within the bounds of the HOA laws.
Know When You Need Professional Homeowners Association Management Help
Being an effective HOA manager isn't easy. Follow these tips and you'll be well on your way to running a quality association. If you're feeling like the job is too much, however, a professional management service is the way to go.
PMI Fine Properties is Houston's top homeowners association management service. We can help your community with all of the above and more. Contact us today to find out about our incredible services.
