Eighty percent of Colorado's HOAs are professionally managed.
The other 20% attempt to self-manage with a board of directors. Sadly, this often results in unhappy homeowners and communities falling into disrepair. It's rare to find an HOA board of directors who are fully equipped to handle everything that a community needs.
In today's post, we'll explain the roles and responsibilities of a professional community association manager. Having a good one can completely alter the makeup of your HOA, so keep reading and learn how they can inject professionalism into your community.
Vendor Coordination
HOA living depends on leadership keeping the neighborhood in good repair. If a community is well-maintained, it's more comfortable and safe for those who live in it. Quality communities draw more interest from potential buyers as well, which can lead to higher property values.
Community maintenance depends on vendor coordination. Local vendors handle everything from weekly trash collection to seasonal landscaping. If you hire an HOA manager, you'll have built-in vendor relationships.
You'll never have to worry about missing regular maintenance. Whatever your community needs will be a phone call away from your HOA manager.
Accounting Services
One of the most important community association manager responsibilities is accounting. HOA homeowners pay HOA dues to cover everything that the community needs. The funds are pooled together to pay for maintenance, repairs, and future amenities.
If you don't have professional accountants managing the HOA finances, things can go downhill quickly. Fortunately, HOA management has experienced bookkeepers and accountants on staff. These people will collect fees and formulate budgets to ensure the community is in good financial standing.
Governance and Compliance
HOAs are run using unique governing documents. These are rules and regulations that tell homeowners what they can and can't do. When you gather dozens of homeowners under a set of rules, there are bound to be issues.
It's your HOA board's job to keep bad actors in line, but this creates a strange power dynamic in the community. Of all the community association manager skills, governing communities might be the most important.
HOA managers can issue penalties to bad actors and diffuse disagreements in the community. You'll notice a more pleasant and harmonious community as a result.
Directing HOA Meetings
HOA meetings bring community members together to discuss important matters. If your HOA board doesn't run organized meetings, they'll never be as fruitful as they could be.
The role of a community association manager is to help the community be the best it can be. They'll help run effective meetings that ensure all voices are heard. Once meetings are complete, they can enact the HOA's wishes by creating plans and scheduling vendors.
Get the Perfect Community Association Manager in Denver
Now that you know what a community association manager does, it's time to find the right one for your Denver HOA. PMI Denver Metro is part of the country's most successful property management group. We offer a wide range of HOA services that include everything mentioned in today's post.
To learn more about how we can help your HOA thrive, contact us today.
