HOA management companies aim to improve a community by providing services like maintaining common areas, including tennis courts, swimming pools, parks, etc, maintaining conflict between board members, taking care of payment tracking, insurance, etc.
There are several benefits to their services. This article will discuss some of them to give you an idea. Contact phoenix hoa management companies if you want to work with them. Meanwhile, you can read on to learn some benefits of working with them.
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Benefits of HOA management services
Some benefits of working with HOA management companies include:
- Clarity – A professional HOA management company can ensure the HOA’s policies are simple and easy to follow. They can also ensure that everyone is updated with the new information and changes.
- Legal Knowledge – You require a lot of legal knowledge to run an HOA, and an HOA management company understands HOA laws and policies well. Some laws include the Fair Debt Collection Practices Act, the OTARD Rule, the Fair Housing Act, and some state and local laws.
- Consistency – HOA companies ensure no bias or favoritism, guaranteeing consistent enforcement.
- Varied Expertise – HOA companies have employees with a diverse range of expertise. The employees are skilled in accounting, law, property management, finance, etc. Some also have access to HOA management software.
- Vendor Management – To maintain HOA’s success, there must be healthy relationships between HOAs and vendors. An HOA management company can ensure that. One of their services includes dealing with conflicts.
- Neighborhood Commitment – Homeowners must know they live in a safe neighborhood and have adequate services. An HOA management company can help fulfill that for the community and increase the homeowner satisfaction rate.
- Open Communication – To maintain a community in good condition and maintain its state, there should be adequate communication between homeowners and board members. Sometimes, homeowners may have feedback or complaints that they want to convey, but board members cannot be available 24/7. An HOA company comes into the picture in a situation like this. They have a way for homeowners to communicate with them at all times.
How much do HOA management companies charge?
HOA management companies charge you monthly. The average fee is around $10 to $20 per monthly unit. But keep in mind not all HOA companies charge the same fees, so discussing it before starting work with them will help clear any doubts you may have about the costs. The monthly fee charge is just the management fee. There are other factors an HOA management company may charge you, such as initiation and exit fees. Costs for these aspects vary from company to company, so discussing the fee matter with your HOA company would be wise.