Your Role as a Homeowner Association
A community Association serves as the governing body within a common-interest community, which may be a neighborhood or a building. Every HOA is managed and funded by residents. A board of directors is typically responsible for holding meetings, managing budgets, and enforcing dues, fees, rules, and regulations. Board members are volunteers.
You want your HOA to demonstrate functionality, a sense of community, and authority.
With the right presence, HOAs can achieve a number of things, including:
Increasing property values for homeowners in the community.
Ensuring the community is attractive, clean, and safe.
Creating community spirit and cooperation.
HOA Fees and Regulations
When residents complain about their HOA, it’s usually a complaint that centers around the fees that are charged or the rules that are perceived as too strict. It’s important that you know how to communicate with your residents and potential buyers so everyone understands the responsibilities and expectations of living in your community. Our team at Community Property Management is especially good at this.
Dues or HOA fees are collected monthly, quarterly, or annually, depending on how you have your collection methods and accounting set up. Your job is to help residents understand what these fees cover and why they’re necessary. Usually, they pay for:
Maintenance and cleaning of common areas.
Lighting, sidewalks, and streets.
Elevators, pools, fitness centers, clubhouses, and other amenities.
Fees range from under $225 per month to more than $1,000 per month, depending on where your HOA is located and what type of community you’re managing.
A majority of HOAs are underfunded, even when they’re able to successfully collect their dues and fees. This is where a professional association management company can help. Find out how we keep your finances in order and your dues collected at Community Property Management.
The wind storm we had last week blew off the gutter on the side of my house from the roof down to the ground. I reported it in the afternoon and the next morning it was repaired. Thank you for your promptness and taking care of this matter.