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Are you a proud leader of your homeowners' association (HOA) in the North Atlanta area? You're not the only one.
Research shows HOAs in the US manage more than 350,000 communities. More than 20 new associations form daily on average.
Hiring a community association manager may help your HOA operate more effectively. Let's explore how community association management may benefit your HOA.
Community Association Management
Community association management involves overseeing a HOA's finances. Community managers are also responsible for projects and customer service.
The ideal community association manager has finance and business knowledge. They must understand community management, too.
Your manager should be personable. This will help them build relationships with everybody in your neighborhood.
Community Manager Duties
Your community manager may handle a variety of administrative tasks for your HOA. These include the following:
- Contract management
- Insurance renewal
- Attending board meetings
- Maintain records
- Answer emails and calls from board members
- Update community database information
The manager's financial duties include:
- Preparing budgets
- Handling community accounts and funds
- Tracking delinquent balances
- Collecting members' monthly assessments
- Reporting to the board on the community's finances
- Gathering bids for community projects
- Filing tax returns
- Documenting property values
- Collecting rent
- Tracking insurance deductibles and coverage
- Processing vendor payments
- Preparing loan application documents
Another important community manager involves maintaining shared spaces and amenities. Related duties include the following:
- Ensure amenities work correctly
- Handle vendor contract negotiations
- Schedule facility repairs or maintenance
- Speak with hired service providers
- Provide access or keys to shared spaces
The manager must also enforce your community's regulations and rules. Part of this responsibility is addressing rule violations.
Managing communications from owners and residents is another critical community manager task. This means following up on homeowner complaints or reports. It also means resolving conflicts among homeowners, vendors, and board members.
Community Manager Benefits
Managing your HOA can be time-consuming and legally complicated. That's why hiring a community manager is critical.
A community manager can introduce processes to help your HOA run smoothly. This may free up your board members' time.
Board members will have more time to dedicate to their hobbies. They can also spend more time on their professions. Their families may enjoy more quality time with them, too.
The manager can also solve any business or financial issues that arise. This is important to do before they lead to legal problems for the HOA.
This might save your HOA thousands of dollars in legal fees. It may protect its reputation in the community long-term.
How We Can Help
Community association management involves directing an HOA's finances. Community managers also govern projects and customer service.
A community association manager may help your HOA run more efficiently. They'll make sure your finances and processes are in order. This might save you and your board members time and money.
Community managers might also protect you from legal problems. They'll ensure your board members and residents adhere to relevant regulations.
At PMI North Atlanta, we provide full-service property management services. Get in touch with us to learn more about our services. Partner with us today!
