27% of Americans live in HOAs in 2024, but are these people getting the most out of community living?
Residing in a homeowners association should provide you with a wide variety of perks that non-HOA homeowners don't get. These range from neighborhood safety to fun HOA events, but there are downsides to HOA living as well.
If your community doesn't have amazing leadership, you may end up wondering where your HOA dues are going. You don't have to settle for a poor HOA because HOA management companies are here to help. Keep reading, and we'll tell you what they can do for your HOA community.
Community Building
Firstly, an HOA management company can help to build a greater sense of community. Through a variety of actions, such as planning HOA events and regular meetings, they can bring residents together and keep everyone on the same page.
HOA meetings allow homeowners to voice their opinions. These types of open discussions are necessary for a community to thrive. Your HOA manager will run organized meetings and make sure the community's wishes are carried out.
Communal Area Maintenance
One of the most basic perks of HOA living is communal area maintenance. An HOA should feel safe and comfortable for everyone. When you have a well-maintained community, you'll start to see more investor interest, which can drive property values up as well.
To have communal area maintenance, you need good vendor coordination. This is the act of keeping vendors on schedule so that every aspect of maintenance is covered.
An HOA manager will bring existing vendor relationships into your HOA. It could be weekly recycling removal or seasonal stress cleaning - the right local vendors will always be there to help your community.
HOA Regulations
HOA governance is a major aspect of running an HOA. If your HOA board of directors can't make sure everyone's abiding by the governing documents, you'll have disgruntled homeowners.
HOA managers don't have this problem. As a third party, they can issue penalties and fines to those who don't feel that the rules apply to them. If more drastic measures, such as HOA evictions or foreclosures, are needed, they'll deal with these as well.
HOA Accounting
All HOA homeowners must pay their monthly HOA dues to enjoy all of the perks the community provides. If you don't have good accounting practices, the money won't go far enough, and due amounts will have to rise.
This is unacceptable for any HOA. A good HOA management company will keep experienced accountants on staff to tackle fee collection, bookkeeping, and budgeting for your community.
Find the Right HOA Management Companies in Knoxville
These are just a few of the many services that HOA management companies provide. If your HOA isn't giving you what you need, it's time to start looking for a great HOA manager to turn things around.
For communities in Knoxville, the best choice is always going to be PMI Knoxville. We offer all of the services discussed here and then some, so contact us today to learn how we can improve your HOA in 2024.
