HOA living is popular in the Lone Star State. There are about 20,000 homeowner associations in the state, housing 5.5 million people.
If you're a resident in a Texas HOA, you're loving the many benefits that come with living in such a community. However, an HOA must be properly managed for residents to reap these benefits.
This is why most HOA communities turn to professional HOA management companies. If your community's board is considering hiring such a company, they're onto something great.
Read on to understand the various things an HOA manager can do for your association.
Efficient Service Provision
An HOA community needs various service providers, including security, cleaning, plumbing, and electrical repairs. Efficient provision of these services is crucial to the functioning of your community.
Without an HOA manager, the HOA board is in charge of procuring these services. Bear in mind that the board typically comprises a few select residents, most of whom have no HOA management experience. Consequently, your board may not know how to find the best service providers.
When an HOA management company takes over, you can bank on it to ensure the community's service providers do an excellent job. Your manager will find the best providers and supervise their day-to-day duties.
Financial Management
One of your primary responsibilities as an HOA resident is to pay HOA fees. But like most residents in your community, you may be wondering whether your money is being put to good use.
Financial mismanagement in HOAs isn't uncommon. In fact, some HOAs run out of cash and fail to pay vendors.
HOA boards aren't well-equipped to handle the funds residents pay. Even implementing an effective billing and collections system can be a challenge.
If your community is struggling to stay on top of its finances, an HOA management company will come in and steady the ship. They have accounting systems that will help streamline the collection and management of HOA fees. They'll also keep accurate accounting records, which the community can audit whenever it wants to.
Rule Enforcement
Your HOA has a set of rules that every resident must follow. However, in any community, you cannot miss rule breakers. Someone has to bring these people to account, and no one does that better than an association management company.
For example, if a resident becomes delinquent on paying the assessments, it's one of the HOA property management company responsibilities to follow up and take the necessary enforcement measures, such as getting a lien on the resident's house.
A community that follows its rules lives in greater harmony and satisfaction.
HOA Management Companies Bring Value to Communities
HOA management companies play an integral role in the running of HOA communities. HOA boards are necessary, but they're not professional property managers.
If your Katy, Texas, HOA is ready to experience the benefits of having a professional management company, look no further than PMI Prestige.
We provide a suite of services for community associations. Our deep understanding of the issues affecting Katy HOAs puts us in an excellent position to steer your community to the next level.
We're open 9 am to 5 pm, Monday to Friday. Get in touch!
