It's estimated that 84% of recently constructed single-family homes in the United States belong to a homeowners' association. There's a good reason for this. When an HOA functions correctly it not only improves the appearance of a community, but also the property value.
Sadly, many HOA boards are stretched too thin which can lead to serious gaps in the vital services they're supposed to provide. One solution to this problem lies in association management services.
But exactly what is an HOA management company? And why should you consider partnering with them? In this guide, we'll answer these questions so you can decide if it's right for your Columbus, Ohio HOA.
What Is an HOA Management Company?
HOA fees can get expensive. It's estimated that on average they cost between $200 to $300 per month. In exchange for these fees, homeowners expect services like common area maintenance, snow removal, garbage collection, and more.
Unfortunately, some HOA board members struggle to find the time to provide even these base-level services. Because most HOA boards are composed of volunteers, this should be a surprise.
An association management company helps me take over some of the day-to-day busy work. This frees up the HOA board's time so that they can focus on bigger-picture initiatives.
It's important to note that these management companies don't replace HOA boards. They simply deal with a lot of the work.
What Can Association Management Help You With?
Different association management companies provide different types of services. The most common ones involve collecting dues, coordinating with vendors, and assisting the board.
However, you're also likely to encounter management services that can help you with:
- Accounting
- Reporting
- Inspections
- Maintenance
- Disputes
It's important to note that all of these services aren't required. Most HOA companies can be flexible in terms of which ones they offer you.
For example, if you only need help coordinating with vendors, they should be able to accommodate that. That way your board isn't paying for services it doesn't need.
What Are the Benefits of Association Management?
Many benefits come with working with HOA property managers. Because of their experience and connection, they can often provide you with better access to affordable, quality vendors.
They handle disputes so community members don't need to fight if someone breaks the rules. A good association manager will increase communication to ensure that everyone is on the same page regarding rules and meeting schedules.
More importantly, they can free up the HOA board's time. When the board isn't focused on collecting HOA dues and maintaining the community, they can focus on bigger projects.
This might include the addition of parks, pools, or other amenities to the community.
Need HOA Help? Contact PMI Scioto Metro
We hope this guide helped you learn more about association management in Columbus, Ohio. Here at PMI Scioto Metro, we know that every HOA is different.
That's why we provide flexible management services to assist boards in our community. Whether you need help with just one aspect of your HOA, or you need someone to manage the entire thing, we can help.
Get in touch with us today to learn how our strategies can optimize your association.
