It's estimated that 74.2 million Americans live under an HOA. There's no denying that homeowners associations can provide a lot of value to communities. However, this is only true if they're run efficiently.
Sadly, many HOA boards are simply spread too thin to effectively provide the level of service that's needed. That's why HOA property management companies can be so helpful to these associations.
In this guide, we'll explain what these types of companies are and the different types of services that can provide for your HOA. That way, you can decide if their expertise is right for your specific needs in the Mt. Laurel area.
What Is an HOA Property Management Company?
It's believed that around 57% of homeowners dislike their arrangement when living in an HOA. There can be a lot of different reasons for this, from petty politics to rulebreakers.
However, one of the main reasons is that the HOA isn't being run efficiently by the board. Oftentimes, this isn't necessarily the board's fault. There simply aren't enough resources or manpower to deal with everything that a homeowner's association needs to address.
That's why many boards will enlist the help of an HOA management company to provide them with additional help on routine tasks. Most of the time, the company will take on the operational roles that come with managing a property in the HOA. That way, it allows the board to focus on more big-picture tasks.
How Can an HOA Property Management Company Help You?
An HOA company can assist you with a variety of operational tasks. Some of the common property management services that these companies provide include things like:
- Managing the HOA finances
- Enforcing community standards
- Finding and coordinating with vendors
- Admin duties
- Communicating with residents
Dealing with the operational tasks, allows boards to focus on more big-picture items. For example, they can devote time and energy to adding improvement to the community.
Or, they can work to improve engagement at meetings and relations to lead to a more connected community.
How to Find the Right Type of HOA Property Management Company
Not all HOA management companies are created equally. To make sure you can find the right one, you should check for online referrals or testimonials from other boards.
You also want to make sure that they're large enough to handle the needs of your community. We recommend scheduling an interview with the company to get a better sense of the skills and expertise they can bring to the table with your specific types of properties.
You should also check out this guide to learn everything you need to know when hiring an HOA manager.
Interested in HOA Property Management? Contact PMI Garden State
We hope this guide helped you learn more about HOA property management companies in the Mt. Laurel area. While HOA management companies can be as hands-on or off as you need, it's important to remember that they shouldn't completely replace a board.
Here at PMI Garden States, we're passionate about making life as easy as possible for HOA boards. That way, you can focus on issues and concerns that matter. So make sure to contact us now to learn more about the value we can provide your specific organization.