Millions of Americans live in communities governed by homeowners associations or HOAs. These associations are led by a board of volunteers who are homeowners that live within the neighborhood and are elected by the membership. The board is responsible for establishing the governing documents, creating and enforcing rules, managing funds, communicating with members, resolving problems, and much more. Serving on the board is a significant undertaking, and many of these leaders have full-time jobs outside of the HOA.

Partnering with a property management company can enable the board to access a wealth of resources and employ valuable assisting in running multiple facets of the HOA. A property manager can serve as a trusted advisor and help guide the board in operating more efficiently and effectively, enhancing its ability to preserve property value and improve quality of life for members. Kuester Management Group works with boards across the Carolinas, providing HOA management in Charlotte NC, Huntersville NC, Wilmington NC, Myrtle Beach SC, and Fort Mill SC.

Benefits of Working with a HOA Management Company

There are a lot of projects, tasks, requests, and requirements to balance when running an HOA. Ideally, the board comprises homeowners from diverse backgrounds who have experience in areas such as business management, finance, accounting, law, and project management, but that is not always the case. Even with this experience, board members may not know what they don’t know when it comes to managing and HOA. That is where hiring a property manager comes into play.

They are a neutral party.

Property management companies are an intermediary. Ideally, there is no conflict of interest because they do not have personal ties to board members or homeowners. This allows the company to offer unbiased opinions and insights, fairly enforce rules, follow up on collections, and help mediate conflicts. If homeowners are upset, they can help de-escalate tensions and work to reach a mutual agreeable solution between the board and members.

They offer a wealth of knowledge.

Property managers have specialized training spanning multiple aspects of HOA management. They understand the challenges that associations face as well as the local, state, and federal regulations that can impact how they operate. Management companies have built strong relationships with local service providers and organizations that can help with maintenance, repairs, reserve studies, capital improvements, and other projects. Additionally, they may be able to allow the association negotiate more competitive rates.

They can improve communication.

Maintaining consistent communication with homeowners is essential, along with following up on questions and concerns in a timely manner. A property manager can assist with creating and distributing newsletters, emails, notices, and reminders to keep members informed. They can serve as a first point of contact for general inquiries and members with the information and resources they need.

In addition, they can aid the board in organizing board meetings, communicating details to members, taking meeting minutes, and adhering to best practices.

They can assist with daily operations.

A property manager can take a lot of day-to-day tasks off the board of directors’ plates so that they can focus on more pressing issues that cannot be delegated. A property management professional can handle a wide array of administrative tasks, including record keeping, reporting, dues collection, payment processing, and vendor management to keep things running smoothly and maintain regulatory compliance.

They can enforce rules.

While the board is the one that sets clear rules and expectations, a community manager can help ensure that they are consistently enforced and send out notifications regarding violations. They follow the processes and procedures established by the association board for handling any issues or noncompliance. Along the same lines, the property management company can guide the board on processes to add, change, or remove rules and help ensure they align with legal standards.

They can provide insight into financial management.

Homeowners associations operate much like small businesses. They have to manage expenses, create a budget, determine annual HOA fees, pay taxes, and coordinate accounts payable and receivable. This can be a lot for the board of directors to navigate, so having a property management team to support them can be invaluable. Furthermore, property managers can remind the board to conduct regular reserve studies and allocate a portion of their income to the reserve fund to cover major expenses and repairs.

They can help maintain legal compliance.

HOAs must adhere to any local, state, or federal laws related to their operations. Property managers stay abreast of changing regulations and can keep the board informed so that they can make necessary adjustments. The board should also consult with an attorney or general counsel to ensure that all of their governing documents and decisions are legally sound, compliant, and enforceable and receive assistance in addressing any legal matters.

Elevating HOA Operations

Hiring a property management company that is experienced in working with HOAs can provide critical support to your board of directors and create a more positive experience for members. Effective community management involves a lot of moving parts, and a skilled property manager can save your association time, money, and stress. Kuester Management Group is happy to provide more information regarding HOA management services within North and South Carolina.

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