Of the 158,000 Lousians who live in community associations, 60% are satisfied with this type of property ownership. So, if you're one of the thousand volunteers who work toward keeping these developments on track, there's still room for improvement.
You'll also know that a lot of time and work goes into fulfilling your role as a board member. Read on to find out where you could be falling short and how a community association management company can help you alleviate some of these arduous duties.
HOA Management vs. Community Association Management
There's little difference between community association management and HOA management. Community management is a broad term that refers to all communities run by volunteer homeowners.
Most of these volunteers also have full-time jobs to attend to, so it's common for them to hire an HOA manager or HOA management company to fulfill some of their tasks.
Duties Involved in Managing a Community
Working as a volunteer HOA board member means you're part of a team that's responsible for managing everything in your community. It includes everything from minor squabbles between homeowners to maintaining HOA policies.
These responsibilities vary widely from HOA to HOA, but they usually include:
Management and General Administration
These time-consuming tasks include all the paperwork involved in community living. Board members must distribute mail and notices to relevant parties, answer calls and emails, manage bookings for shared spaces, and keep track of correspondence.
They screen prospective owners, prepare applications, and review proposals with other board members. To keep everyone on track, they must hold regular board meetings and take minutes.
It makes sense to hire an HOA property manager to take care of these simple, time-sensitive tasks.
Accounting, Legal, and Finance
Unless you have qualified individuals on your HOA board, you must outsource accounting and legal responsibilities to a professional. Community association management firms can assist you with expert help in the realm of:
- Collecting and processing assessments
- Managing community funds
- Arranging vendor payments
- File tax returns
- Preparing the annual HOA budget
- Advise the board regarding financial matters
These professionals stay informed about government regulations and communicate with the HOA attorney regarding any legal matters.
Maintaining Common Areas
Part of the appeal of HOAs is their access to a range of shared amenities. Residents can enjoy the benefits of on-site swimming pools, gyms, and other conveniences without the time and effort involved in caring for them.
An HOA management company will take care of all the following aspects related to this:
- Checking for necessary repairs and maintenance
- Sourcing local contractors
- Manage vendor contract negotiations
- Communicating with service providers
- Overseeing the work
When you hire an HOA manager, you benefit from the best prices from contractors thanks to their industry connections.
Find the Best HOA Solutions
Hiring an accomplished HOA management team is your path to a 100% homeowner satisfaction rating. As a board member, this will also save you a lot of time and effort.
Backed by over 20 years of property management experience, PMI New Orleans offers a full range of community association management services. Get in touch if you'd like to streamline and enhance the way you manage your community.
