How Do Community Management Companies Help a Community?

A neighborhood that is run by a homeowners association (HOA) should meet the needs of its residents, but many HOAs lack the resources to uphold neighborhood standards and meet community goals. When an HOA becomes powerless to evolve a neighborhood, or maintain the neighborhood's standards, community management companies can help. With the assistance of management, an HOA can make improvements in the following areas of operation, among others:

Financial Assessment

Some HOA boards are composed of volunteers, many of whom may lack financial expertise. Maintaining a neighborhood's monthly expenses does not require a shrewd financial approach, but planning its investments to meet long-term goals does. HOA support services staff financial experts who can implement a full range of financial services, from the collection of assessment fees to the financial assessment of neighborhood projects.

Maintenance

The maintenance of a neighborhood plays an important role in the curb appeal of its properties-a quality desired by both community members and prospective property buyers. Good maintenance involves more than ensuring that HOA rules are met; it also involves selecting a reputable maintenance contractor and maintaining good contact with the contractor. An HOA support service can handle both tasks.

Neighborhood Planning

Different neighborhoods have different goals, but keeping the goals on track and within budget requires careful financial assessment. Also important is to plan a neighborhood to meet the vision of its residents in a social and cultural sense- tasks that benefit from the assistance of experienced community planners, who are staffed by community management companies.

HOA management involves more than managing the present community; it also deals with evolving the neighborhood in a way that increases its social, cultural, and financial value.

Value Added Services

Depending on a neighborhood's prestige, it may include value added services that distinguish it from other HOA neighborhoods, such as salon services, high-end security services, and childcare services. Developing the right mixture of services for a neighborhood requires careful attention to the expectations of its members and the vision established for its development.

Real Estate Value

The ultimate goal of HOA management is to promote the real estate value of the neighborhood, making its properties more valuable to community members and more desirable to prospective homebuyers. To do this, the HOA must use the resources provided by the support service, particularly resources for financial management, neighborhood planning, and neighborhood maintenance.

Conclusion

Community management companies assist an HOA in the areas above, among others. When an HOA is unable to meet the needs and expectations of its community, supporting it with a management team is often the best solution.

In some cases, an HOA persists with poor management practices for years, sabotaging the value of a neighborhood and frustrating its members, who invest in the neighborhood with the hopes of a social and financial payoff that never seems to come. If your HOA is having difficulty meeting its plans and obligations, it may need the assistance of a support service.

To learn more about the benefits of HOA support, contact a management service that specializes in your type of community.

Community management companies specialize in bettering communities through homeowners association management.

When Does a Community Need HOA Management Companies?

When a homeowners association (HOA) lacks the administrative resources to meet the needs of its community, it often requests the assistance of a management company-a service that supplies the administrative resources a needed to meet obligations. However, not all struggling HOAs request the help of management at the first sign of trouble. According to major polling firm Zogby International, four questions can be used to assess the value of an HOA to its community. To assess the value of your community's HOA, try answering the following questions:
Do board members focus on serving the community?
Most board members are elected to serve as volunteers-a scenario that requires them to have a passion for the community, as their service is not rewarded financially. Some board members soon tire of this arrangement, while others must put their jobs ahead of service to the community. Regardless of why board members do not focus on serving the community, their lack of attention must be compensated for if the community is to remain attractive to its residents and potential buyers.
Do community rules promote property value?
HOA rules range from being needlessly persnickety to being unfortunately lax, and though both types of rules are annoying, the latter generates the most ire from concerned community members. Unless the rules focus on maintaining property and developing community interests in a way makes the community attractive to potential buyers, they should be reconsidered with community development in mind.
Does a community support organization support the HOA?
An HOA that is supported by management typically performs better than ones that pursue community support without the help of management companies. As mentioned above, some board members juggle their duties with job duties, and few boards have the luxury of administrative assistants who provide extra support. Add in the fact that many boards lack members who are trained in business administration, and the importance of a support organization becomes obvious.
Do community members receive a fair return for assessment fees?
Nothing makes members of planned communities angrier than feeling as if they receive an unfair return on their assessment fees. When assessment fees fail to generate expected improvements to the community, financial mismanagement if often to blame, or poorly executed development plans. In some cases, fees are collected and saved, but not invested as originally planned, presenting the image of misspent funds.
Seeing assessment fees translated into community improvements is a basic expectation for members of HOA communities. When the expectation is not met, the financial upkeep of the community can benefit from the assistance of a support service.
Conclusion
Depending on how you answered the questions above, your HOA may need a management team to help it meet its obligations to the community. Provided by HOA management companies, this service helps planned communities improve their administration, financial upkeep, and community planning. For more information on HOA support, contact a support service that specializes in communities like yours.

HOA Management companies improve communities by performing homeowners association management.

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