There are now over 358,000 community associations in the US, but not all of them are thriving. If you're neglecting to apply best practices, your property values could decline. Before that happens, use these tips for homeowners association property management.
With these tips, you can enhance your community culture. You'll create a happy, harmonious place for your Boise residents. Read on for the tips you need for success.
Enforce Homeowners Governance Documents
Review and enforce your community's homeowners governance documents. Ensuring everyone follows these policies will create a harmonious living space for all.
Consider hiring an experienced HOA manager. They can review your governing documents with a fresh pair of eyes. They'll make sure every rule is defined and enforced.
With their help, you can make sure everyone is held to fair standards. Otherwise, you may feel awkward confronting neighbors who are violating the rules. Your association manager can handle these disputes in a professional, unbiased manner.
Schedule Property Maintenance
Neglecting to schedule routine maintenance and inspections can lead to crumbling properties. Your property values will start to decline. Instead, enhance the quality of your homeowners association.
Your association manager can handle property maintenance projects on your behalf. They'll hire reliable vendors in Boise at competitive rates. They'll ensure each project is completed on time and on budget.
Homeowners Association Financial Management
Proper homeowners association financial management is essential for your community's future. The average monthly HOA fees in the US are $170. These fees can cover:
- Association insurance
- Grounds maintenance and repairs
- Amenities and services
- Municipal services
Some members may feel uncomfortable with board members handling the finances. An association manager can step in as a neutral third party.
Otherwise, it can feel daunting to explain fee increases to friends and neighbors. It's also uncomfortable to collect overdue assessments from friends. Your association manager can handle this process on your behalf.
Effective Homeowners Association Communication
Homeowners association communication is key for harmonious living. Community members may get upset if they don't get updates from the board.
Your association manager can update your online member portal regularly. They'll act as a go-between for the board and community members.
Hiring an association manager will ensure transparency. Community members can feel confident in the board if they receive regular updates.
Compliance
Your HOA board will need to navigate local, state, and federal laws and regulations regularly. If they neglect to follow these laws, you could receive fines or face legal action.
Hire a property management company that offers legal services. They'll ensure you remain compliant and up-to-date. With their help, you can avoid legal consequences.
Homeowners Association Property Management Services
You don't have to apply these best practices for property homeowners association property management alone. Hire an association property management company instead. Your association managers can ensure your Boise community functions at its best.
PMI Treasure Valley has 20 years of experience helping communities like yours thrive. We offer the highest quality of services while using the latest technology.
We can add value to your Idaho community through superior management. Contact us today to meet your association managers.
