About 3% of households in Puerto Rico live under a community association. Unfortunately, not every HOA member has time to remain active in the community. If you're juggling too many responsibilities, consider hiring a homeowners association management company.
With help, you can ensure every community member receives the care they need. A flourishing community is more likely to attract new members.
On the fence? Read on to discover how homeowners association managers can help your community.
Site Management
Homeowners association management companies can simplify maintenance requests. They can also complete inspections and spot on-site violations.
Proper site maintenance will ensure your community looks spotless year-round.
These tasks also include tending to common and recreational centers, storing outdoor equipment, and completing yard maintenance.
Your property manager will also regulate vendors. They'll ensure maintenance requests are done in a timely manner. Completing maintenance requests quickly will keep residents happy.
Office Duties
Your homeowners association management company will act as an on-site resource for your HOA. They'll complete daily office tasks, including:
- Answering phone calls
- Responding to emails
- Coordinating board meetings
- Assisting with accounting/invoicing
- Creating and maintaining reports
As part of these duties, your property manager will also keep an open line of communication between residents. They'll make it easier for residents to access helpful information. For example, your property manager can update your community website.
Providing easy access to updates will ensure all residents remain on the same page.
Collections
Fewer than two in three (64%) of HOA residents feel their HOA honestly handles finances. Only 28% of homeowners feel involved in financial decision-making with their HOA neighborhood.
An HOA management company can handle financial responsibilities for you. These responsibilities include:
- Dues collections
- Billing residents
- Collections support
- Issuing delinquent notices
Enforcing Policies
Your HOA manager will thoroughly review your community's covenants, conditions, and restrictions. They'll enforce these policies and guidelines on your behalf.
As an HOA member, it can feel difficult to enforce rules on your friends and neighbors. Allow a third party to handle this task instead. You can make sure everyone complies with board decisions without straining relationships.
Mitigating Risk
Your property manager can also regulate potential risks. They'll assess possible liabilities to help you make informed decisions.
For example, they can make sure your insurance coverage is up to standard. They'll also regulate safety hazards. If potential risks might affect the community, they'll send updates to residents.
Vendor Management
An experienced property manager already has contact with local vendors. They'll know which contractors you can trust with your community. They'll choose vendors that will help your community thrive.
Your property manager will coordinate vendors for maintenance, landscaping, and other projects. They'll also assist with negotiating contracts and soliciting bids.
They'll even act as a primary point of contact between your board and vendors.
Choose Homeowners Association Management
You don't have to juggle your HOA tasks alone. Instead, hire a homeowners association management company. With help, you can ensure efficiency while minimizing the workload.
The best management company will save you time and money in the long run.
Need help with your HOA? Contact PMI Central PR to learn how we can help.
