Running an HOA with just a handful of members is certainly easier than managing one with dozens (or hundreds) of homes, but that doesn’t mean that it doesn’t have its fair share of challenges as well. Many smaller HOAs opt for self-management to save money, but partnering with a management company can be worth the investment.
Here are just a few ways that smaller associations can benefit from professional management:
- Compliance Oversight
Regardless of size, all homeowners associations must follow the same local, state, and federal laws and regulations. A community manager understands these requirements and how they apply to HOA operations. They can be a valuable resource when smaller associations are considering new policies or have questions about current ones.
- Financial Management
Fewer members means fewer people paying dues. That can lead to higher fees in order to cover all of the association’s costs. Or, some projects may have to be put on the back burner because there isn’t enough income to fund them. Working with a management company can help smaller associations to better manage their expenses, negotiate more competitive agreements, and enhance their financial stability and reserve funds.
- Administrative Support
There can be a lot of paperwork and communication associated with running the HOA. A management company can handle many of the day-to-day activities such as responding to general inquiries, collecting dues, enforcing rules, and coordinating meetings, allowing the board to focus on more pressing issues that cannot be delegated. This can free up time for board members and help them to create a better association-life balance.
- Maintenance Management
Even smaller associations have certain maintenance and landscaping tasks that they need to stay on top of. A community manager can be a valuable resource when it comes to identifying reputable service providers and overseeing contracts. They can work with vendors to make sure tasks are executed properly and expectations are met.
Remember that management services are negotiable as well. A smaller association does not have to opt for the same scope of services as an HOA that is three or four times its size. A community manager can work with the board to determine its needs and exactly what it wants the management company to handle vs. what it will continue doing itself. HOA management is not one-size-fits-all, and the board can find a solution that fits best with the community’s needs and budget. Contact Kuester today to learn more about how we support HOA communities of all sizes across the Carolinas.