Homeowners associations can make a neighborhood better. More and more of them are popping up all around the United States, with over 370,000 associations.
If you are part of one of these or want to form one of your own, you need the right homeowners association management.
How can you get that? This guide will go over the biggest factors.
The Right Fees
Almost every homeowners association charges fees to all of the homeowners that live in that community. These fees are used for things such as certain maintenance on homes, landscaping, community amenities, and more.
What management has to do here is make sure that there is enough money in the budget to pay for all of these fees. You have to do proper estimates as well as account for things that could potentially go wrong.
One way to do that is to get an idea of how much each home is valued at in the neighborhood. That is because it is recommended to dedicate 1% of your home's value to maintenance costs annually.
So, if you account for that plus other typical amenities, you should come up with an accurate fee to charge homeowners that are part of this association.
Communication
Another thing management needs to do is make sure that there is proper communication with the homeowners. This can be anything from scheduling meetings, putting big decisions in the neighborhood to a vote, stating the rules in the neighborhood, announcing major changes in advance, and more.
This allows everyone to be on the same page and the ability to plan accordingly.
For example, let's say that somebody in the neighborhood wants to paint their house paint when every other house on the block is white or gray. Good management would hand every new homeowner documents that go over the rules of the HOA. In it, there should be a clear rule stating what colors you are allowed to paint your house for this situation.
Organization
Finally, homeowners have to have some trust in HOA management. To gain that trust, the homeowners have to feel like management is doing their job.
That means that they are organizing meetings, listening to other homeowners' concerns, putting the fees to proper use for things in the neighborhood, and more. In other words, homeowners want reassurance that there is a purpose to having a homeowners association.
Get Better Homeowners Association Management
These are just a few things that homeowners association management needs to do to maximize efficiency for their group. They need to make sure that they are charging homeowners appropriate fees, have clear communication with homeowners, and stay organized when running the HOA.
If you do all of this, you should see improvement in your HOA in no time. However, you may not feel like you can do this alone.
That is where we come in. Message us here to see how we can help you today.
