Roughly 73.9 million Americans are HOA residents and live in a condo. That's a large percentage of the USA, and it explains why community association management plays such a huge role in maintaining housing communities. Without community management, it'd be difficult to oversee everything.
In most neighborhoods, an HOA board handles daily operations. It's their duty to enforce the rules within the community. However, that's a huge undertaking, and using a community manager lightens the load.
With that said, if you don't know much about this topic, we're here to help. Here are five key facts to know about community association management in Raleigh, NC.
1. Maintains Property Value
Community association management companies help to maintain property values in Raleigh neighborhoods. They upkeep common areas and ensure proper maintenance of individual properties.
Not only that, but they preserve the overall aesthetic of the area. Well-maintained housing is more attractive to potential homebuyers. As a result, it leads to increased property values for homeowners.
2. Handles Important Tasks
A community association manager provides a wide range of services to HOA managers. These services include administrative tasks, such as managing budgets and collecting dues. It also involves maintaining financial records.
Furthermore, they handle repairs and vendor management. They serve as a liaison between homeowners and the HOA board. Their job is to provide effective communication and timely resolution of issues.
3. Does HOA Board Collaboration
The HOA board plays a vital role in community association management. The board consists of elected homeowners who volunteer their time to make decisions. They work closely with the community association company, and as a team, everyone oversees major projects.
HOA managers act in the best interest of the community and make sure that it remains a desirable place to live. In most cases, they'll hold monthly HOA meetings to make sure that everything is going smoothly.
4. Provides Financial Stability
Community association managers provide financial stability for HOAs by collecting dues from homeowners. Doing so guarantees that funds are available for necessary expenses. HOA fees go toward maintenance, repairs, and improvements.
These companies also oversee budgets to ensure that HOAs can effectively plan for future expenses. With proper monetary management, HOA neighborhoods can avoid monetary hardships.
5. Handles Legal Matters
Community association management companies are experienced in dealing with complex legal matters. They stay updated on local laws and regulations that affect HOA residents. Plus, they make sure that the neighborhood remains in compliance. It's their job to handle matters related to zoning regulations.
Community association companies are also knowledgeable about building codes and other legal requirements. By providing guidance to the HOA board, they protect the interests of homeowners.
Get the Most Out of Community Association Management
As you've learned, community association management is key to longevity. Without it, many neighborhoods in Raleigh, NC wouldn't make it. If you're looking for help with your HOA, we're here for you. At Raleigh Property Management, we have the skills to make your property successful.
To learn more about our services, call 919-651-4244, or contact us online. We can't wait to connect with you!
