As it stands, around 28% of US residents live in managed communities.
These communities are typically considered more desirable to live in due to the benefits that a homeowners association offers. In many cases, however, HOA boards struggle. Their duties can be quite overwhelming, and they may not be able to handle them all effectively.
This is where HOA management companies come in. They can take on various responsibilities to lighten the load. Professional community management in Louisville can help your HOA board take care of your community and keep everything running smoothly.
Let's go over some of the key duties that HOA management services can help with in your Louisville community.
Maintaining Common Areas
One of the main benefits of HOA management is that it can lead to improved property values. Association managers can organize repair and maintenance work of common areas which are available for all residents to use. These can increase the appeal of an entire neighborhood, which helps boost property values.
Association managers are used to organizing maintenance, so they can make sure these areas are always in good shape. They can also deal with landscaping which will help improve curb appeal throughout the neighborhood. Bear in mind residents are generally responsible for their own properties.
Administrative Tasks
Administrative tasks are typically quite simple, but they take a lot of time to deal with. The HOA board can do this, but they may then not have enough time for all of their other responsibilities.
You can leave these to an association manager instead. Additionally, association managers are more experienced, so they can usually handle these tasks more efficiently and with fewer errors.
Legal Guidance
Unlike administrative tasks, legal duties can be very complicated. Unless an HOA has board members with a legal background, it's very unlikely they'll be able to deal with these effectively.
A professional HOA management company can deal with any legal tasks that come up. They have relevant experience and training that allows them to do this.
As a result, your HOA won't need to find a property lawyer when anything arises. Your association manager can offer expert guidance to help your community navigate the complexities of any legal cases.
Financial Management
This is another complicated aspect of association management. The HOA board will have a treasurer who is responsible for financial tasks, but if they don't have the right skills, they might have a hard time.
An association manager can help by overseeing things like HOA fees and budgeting. They can help minimize the risk of mistakes and budget effectively to save community funds.
Working With Professional HOA Management Companies
While an HOA board can be very beneficial, they can have a hard time keeping up with everything. HOA management companies can step in to help keep them on track.
PMI Louisville is a full-service real estate asset management company serving Louisville and the surrounding communities. We have over 20 years of experience and operate under PMI, one of the most well-renowned property management companies in the US.
Take a look at our association management page for more details on the services we can provide.
