According to online loan marketplace LendingTree, almost 60% of HOA members say having an HOA makes life easier. However, 45% are concerned about their dues increasing. Relying on a professional association management group can improve their quality of life without increasing costs.
An association management company can streamline tasks, increasing efficiency. You can cut costs while setting your community up for growth.
Unsure if you need to hire a management group for your community? Read on to discover three great management group benefits before you decide.
1. Improve Property Values
Common association services include:
- Architectural request tracking
- Vendor insurance tracking
- Common area inspections
- Coordination and management with Reserve Study
- 24-hour availability/on-call maintenance
- Management of maintenance plans
- Obtaining competitive bids from vendors
- Online maintenance and work order management
These professional management support services can improve your community. Beautifying the neighborhood can increase property values and help you attract new members. As your community grows, it will become a more desirable place to live.
Your association manager will remain available 24/7. Their on-call availability will give residents peace of mind. These services will protect and enhance the community, allowing residents to take pride in where they live.
2. Efficiency and Organization Improvement
Hire a management group that uses state-of-the-art property management technology. Their software can increase efficiency and help the board remain organized.
This technology will give residents access to an online portal. From there, they can:
- Track maintenance projects
- Receive updates from the board
- Discover upcoming events
- Send questions and concerns
Ongoing communication between the board and residents can increase transparency. Residents will have peace of mind knowing how their dues are used.
Your association manager can increase attendance at upcoming board meetings. This will further increase transparency, making your community a harmonious place to live.
3. Save Time and Money
Relying on professional association services and professional strategies will save you time and money. Your association manager will audit your current operations. They'll make customized recommendations to help you operate more efficiently.
According to Rocket Mortgage, about two in three HOA residents question whether their HOA honestly handles its finances. As a third party, your management group can improve the community's financial stability while increasing transparency. Their services may include:
- Preparing and maintaining financial records
- Preparing and filing tax returns
- Assisting with financial decisions
- Providing the board with financial records
- Handling the payroll for HOA employees
- Processing dues and fees
Residents may feel more comfortable allowing a third party to step in. Improving the community's financial health can set you up for long-term growth.
Hire Your Association Management Group
Managing a community can be costly and stressful. Allow an experienced association management group to step in. With their support, you can experience these management group benefits and more.
Our team at PMI PHX SW can help your community thrive. We'll take the time to understand your community's needs and goals before offering customized solutions.
Trust our commitment to honesty, integrity, and transparency as we add value to your unique community. Contact our team today to schedule your free consultation.
