If you have lived in certain neighborhoods for any length of time, you are undoubtedly familiar with your community’s homeowners association (HOA). This governing board is responsible for setting the fees for the community, maintaining the properties, and introducing an upholding the regulations and bylaws for the neighborhood. However, your homeowners association may benefit from hiring an HOA management company to help with their San Diego community. Why is this a good idea? Here are just three reasons that such a hire is a wise investment.
Handling Financial Collections
Ultimately, a homeowners association would rather not be seen as “the bad guys” just because they have to collect fees from residents who were late in paying, and it’s extremely sensitive sometimes because, due to the nature of a board, which is made up of volunteers from the community itself, they are literally having to take collection actions on a friend or even a family member. Not only is this understandably awkward, but it could constitute a conflict of interest. An HOA management company taking care of this task for the board puts a middleman between them, making the process less uneasy and, hopefully, less stressful as well.
Maintenance of the Community
Maintaining the property is one of the biggest responsibilities a homeowners association has; so big, in fact, that it can sometimes get overwhelming, and even costly depending on what issues are being handled. A homeowners association management firm has a whole network of vendors they use with other associations to take care of maintenance services, so boards that are looking to be more effective in these responsibilities, as well as good stewards of their budget, should look into taking advantage of this. Besides saving money in the long run, it has the added benefit of the community looking as close to pristine as possible, which improves the atmosphere of living there and may even entice homebuyers to give a house located there a second look.
Did you know there is a whole set of local, state, and federal laws that govern a homeowners association? If your board is not familiar with most of these laws, they may have been regularly committing violations without knowing it. A managing professional will be able to help the association be compliant, and if they find themselves in legal trouble, the company can point them in the right direction for who to contact for help as well.
These are just three reasons that hiring an HOA management company in San Diego is a good idea, but they are good enough that there is no harm in at least calling around to ask about what they can do for your board.