According to Realtor Magazine, about 75.5 million Americans reside in a managed community.
These residents naturally want their communities to thrive, and while an HOA can help with this, they can sometimes struggle to stay on top of everything. This is where a home owners association property management company can step in. By taking on various duties, they can support an HOA board and give a community the extra help it needs.
In this guide, we'll take a look at some of the ways in which Chicago HOA services can support the growth and success of your community. Let's get started.
Common Area Maintenance
HOA communities often have common areas such as:
- Fitness centers
- Pools
- Art studios
- Parks
Residents are free to use these, and the HOA is supposed to keep them in good condition. A community association management company can organize any maintenance and repairs these areas need. Common areas are very appealing to potential buyers, so proper maintenance is a key part of effective HOA growth strategies.
Accounting
Accounting is one of the more complicated duties that fall to HOA boards. The board members are volunteers from within the community, so it's rare for any of them to have suitable experience.
Chicago HOA experts have the right skills to deal with accounts and finances. This includes tasks like collecting HOA fees and creating budgets.
They can take this on to make sure everything is done right. There will be less risk of mistakes, and community funds will be better handled overall. In the long run, this can help the community spend more efficiently, improving the lives of all residents.
Administrative Duties
HOA boards have various administrative duties. While these are typically not too complicated, they can be quite time-consuming. Some common examples are:
- Planning HOA meetings
- Maintaining records
- Organizing social events
- Responding to communications from residents
An association manager can take these tasks on, reducing the workload of board members. They can often handle things more efficiently, and the HOA will then have more time to focus on other crucial tasks.
Policy Enforcement
HOA boards need to set some ground rules for residents to follow. Policies help maintain order within the community, reducing the risk of disputes between neighbors.
These policies are typically quite straightforward, so it's easy to put them in place. However, enforcing them may not be so simple. Board members often have personal relationships with various residents which can cause biases.
An association manager won't have these same relationships. They can enforce policies as needed to ensure things are fair for everyone. As a result, people will be less likely to break the rules and fewer issues should arise.
Working With a Home Owners Association Property Management Company
A home owners association property management company can do a lot to benefit a community. By taking on various duties, they help ensure the HOA board can stay on top of everything, allowing a community to grow and succeed.
PMI Chicago Metroplex offers professional association management services throughout Schaumburg and the surrounding communities. Our experienced team is dedicated to providing exceptional services, and we cater to the needs of each individual neighborhood. Take a look at our association management page for more information.
