Did you know that, as of 2022, over a quarter of the U.S. population live in a community association? That represents over 74 million Americans!
Homeowners associations (HOA), in turn, are among the most popular community associations. The benefits of HOAs, such as safety, security, and convenience, have made them more popular.
However, those perks are often only possible with the help of an HOA management company.
But what do HOA management companies do in the first place? How can they help your community in Fort Bend, TX?
We've shared the answers in this guide, so read on.
Reduce the BOD's Work Load
An HOA's BOD, or Board of Directors, comprises community members. They're residents elected by other residents to supervise the community's management and upkeep. They're volunteers, meaning they don't get paid.
However, just because it's a volunteer position doesn't mean BOD members have it easy. They don't because managing a community is time-consuming and requires much effort. For example, they must maintain the community and property values by:
- Maintaining common areas
- Creating and enforcing community rules and regulations
- Managing the community's finances
- Communicating and engaging with the community
Those duties are on top of each board member's personal or work responsibilities. So, you can now imagine how overwhelming being part of the BOD can be.
Fortunately, an experienced HOA management company excels in performing those duties. Therefore, they can help your Fort Bend community by taking over most tasks its BOD must do.
Timely Collection of HOA Dues
Improved financial management is among the top benefits of hiring HOA management companies. Experienced HOA managers do this through the timely collection of HOA dues.
Collecting HOA dues on time is also integral to maintaining common areas. After all, a community uses part of these fees to pay for repairs or upkeep.
Conversely, delays in collecting HOA dues can lead to common areas deteriorating. This affects the entire community and even poses safety hazards.
An example is a failed electrical system, the third leading cause of home fires in the United States. If this happens to your community, it can put lives at risk. At the very least, it can cause severe damage and reduce property values.
Assist in Resolving Disputes
In one survey, nearly 3 in 4 Americans said they're friends with at least one neighbor. However, 73% of the respondents also said they had at least one neighbor they disliked.
So, while most people in your community may get along well, conflicts may still arise. For example, residents may engage and argue with neighbors they don't like.
HOA management companies can help in such situations by acting as mediators. They'll listen to both sides and offer solutions for a win-win outcome.
HOA Management Companies Can Benefit Your Community
Now you know that HOA management companies can make the lives of BOD members easier. They can also help keep a community's finances and condition in check by collecting HOA dues on time. Plus, they assist in resolving disputes before things escalate.
All that should be enough reason to hire an HOA management company for your Fort Bend, TX community.
Let us, PMI Fort Bend, be your community's long-term partner! We provide high-quality HOA management you can rely on. Contact us now to learn how we can help your community.
