If you count yourself among the 16% of the New Jersey population that lives in an HOA, you may be wondering how yours could improve.
Your association leadership is made up of volunteer homeowners who have a vested interest in the success of the community. That said, the responsibilities associated with running an HOA often require more than volunteers can provide.
You should enjoy a particular set of perks as an HOA member, whether it's a well-maintained neighborhood or higher property values. If you're not getting these perks, it might be time to bring in an association property manager.
Keep reading, because in today's post, we'll explain just how an HOA manager will improve your homeowner's association in 2024.
Better Accounting
A community runs on monthly HOA dues from all members. Your HOA board will collect these and pool the funds to pay for things like maintenance, emergency repairs, and improvements.
Managing large sums of money requires accounting experience. If your treasurer doesn't have this, you'll start to see signs of poor money management, such as rising HOA dues and lower property values.
A property management company has accountants on staff to handle your community's funds. Never again will you have to wonder where your hard-earned money is going.
Vendor Coordination
One of the biggest perks of living in an HOA is community maintenance. The community should be well-maintained with regular landscaping, garbage pickup, snow removal, and other important tasks.
To ensure that maintenance is taken care of, you need good vendor coordination. An HOA manager helps this by bringing in established vendor relationships. Whatever your community needs, a great local vendor will be a call away.
Building Communities
Important community matters are dealt with at HOA meetings. These are held regularly to discuss things like new amenities and amendments to community guidelines. Organizational skills play a huge role in how successful these meetings are - this falls to your HOA board.
If your HOA board isn't prepared for meetings, nothing will be accomplished. An HOA manager can support your HOA board to create effective meeting agendas. Every community member will have their voice heard and once there's a consensus, the HOA manager will ensure the community's wishes are carried out.
Guidance and Compliance
Each HOA property must obey the community's governing documents. These are a set of rules and regulations that tell homeowners how to act in the community. Anytime you have rules governing dozens of homeowners, you'll end up with issues.
It can be awkward for HOA board members to enforce regulations because it creates a power dynamic. An HOA board acts as an impartial third party and keeps all homeowners in line. This fosters a sense of cohesion and harmony in the community.
Get the Best Association Property Manager in Monroe
With a great association property manager, your Monroe HOA can finally thrive. There are countless HOA managers out there, so it's important to find out who shares your community's ideals.
PMI Turn Key NJ is Monroe's top HOA property manager, offering all of the services discussed here and more. To learn how we can turn your community around, contact us today for a consultation.
