Homeowners Associations can't function without a management structure, but what's behind the formula?
HOA neighborhoods are actually managed by property management companies that specialize in HOAs, also known as association management. PMI Malta is one of those companies, offering a full-service management option to HOA communities.
The key word here is community; it's one of the primary reasons people choose homeowner associations. The HOA structure allows for more community engagement, from communal parks to holiday events. These communities also hold regular HOA meetings headed by a board of community leaders.
Learn more about the benefits of homeowner association services for community building.
Assembling a Proactive Board
One of the responsibilities of an association manager is to form an HOA board for the community. Homeowners who live in the community sit on this board. The role of the board is to communicate, develop, and implement.
HOA meetings are a cornerstone of this management model. Here, HOA residents learn about any upcoming changes to the community, like new developments, changes in dues amounts, or new leadership on the board. The community can also raise concerns or present ideas to the board during these meetings.
Boards have access to reserve funds to help finance new projects and repairs. The community's association manager oversees the use of this reserve, ensuring all financial matters are appropriately handled. Rest assured, a professional property management company is with you every step of the way.
The board is an access point to community activities. If you have a creative idea that can bring the community together, present it to the board. You would need to craft a plan complete with supplies, timetables, entertainment, and budget estimates.
Sound Financial HOA Management Services
When you compare various HOA communities, you'll notice some neighborhoods have more amenities than others, like community pools, gardens, and parks. These amenities are a testament to a strong board with financial management. Thus, working with an association management company that handles financial affairs is paramount to community building.
HOA communities not only have an association manager. There's a whole professional team behind the operation.
For example, accountants see that financial reporting is accurate, dues are paid, and reserve funds are managed. The board receives timely and accurate reports to help them manage and communicate financial issues with residents.
The property management company is in regular communication with city and local officials, ensuring the community is in full compliance with any rules and regulations. Following strict compliance guidelines prevents the HOA from being fined. This is another reason why HOAs have a violation system to enforce visual and hygienic integrity, like property trash management.
Building maintenance is another responsibility of an association management company. They work with local services, like HVAC technicians and cleaning companies, to ensure homeowners' maintenance needs are met. Property management companies, like PMI Malta, also provide HOA resources online for additional assistance.
Start Building a Better HOA community
Working with the right HOA management services is instrumental to a high-demand homeowners association. Enjoy more exciting developments, better amenities, and community life. Remember the above tips when electing members to the board and creating your infrastructure.
PMI Malta has a full team of experienced association managers waiting to help. Call us today to learn more about our philosophy.
