5 Reasons Why You Should Hire a Property Manager for Your Homeowners Association (HOA)

5 Reasons Why You Should Hire a Property Manager for Your Homeowners Association (HOA)

It’s easy to claim that anyone can be a part of the homeowners association (HOA) since they live in the society. They should know how to deal with living issues. Actually, there is a lot more in the bag than just getting the trash picked up or putting street lights on. Managing a community of residents, whether it be a condominium association or gated residential area, is complex. It requires hands-on knowledge, and being smart about dealing with issues on a large scale, and on a regular basis. Hiring a property manager for your homeowners association would be the best bet because of the following reasons.

1. Efficient Maintenance

Nothing compares to professionals at work. Your community in the San Fernando Valley requires efficient maintenance at all times whether it’s arranging for the cleaners, garbage collector, security guard, or handyman to come on time; or ensuring maintained landscape, clean swimming pool, or plants overgrowth. If you hire a property management company for your homeowners association then you’ll have access to a team at work along with a dedicated property manager whose job is to run your HOA efficiently. Now that’s a great relief, isn’t it? Wait, there is more.

2. Cheaper Vendors and Contractors

Ever experienced a handyman not returning your calls, or a plumber giving you an appointment of the next day, when your roof is leaking like torrential rain? Well, if you have a property manager, chances are, you won’t have to face this problem. A property manager with experience usually have a network of vendors and contractors on hand. If one doesn’t return their call, then there’s another one on the list. Furthermore, they usually associate with reliable and cheaper vendors and contractors. In return, they provide these vendors and contractors with more work. We don’t have to spell it out that your HOA will greatly benefit from their network.

3. Balancing Budgets

HOA maintenance is costly, and this financial burden rests on the homeowners’ association managing board. From utilities to paying the staff, taxes and funding reserves, all require detailed bookkeeping. A property manager will be a blessing in disguise because they will take care of these, and more. At the end of the year you won’t have to worry about balancing the budget or auditors who will be going through your books.

4. Insurance for Common Areas

While every homeowner is quick to get home insurance for their living unit, we bet you never thought of insurance for common areas. Anything from electrical short circuit in the gym to flash flood, falling boundary walls to security system breach, all have high costs associated with them. You don’t want to end up paying for them out of your HOA’s pocket unnecessarily. For this reason you’d find that property managers are a great resource for recommending the type of insurance you’ll need for your HOA property.

5. Expert Legal Knowledge

Needless to say, expert legal knowledge is better than common knowledge. HOA’s are usually governed by state laws in term of administrative responsibilities, collection of dues, repair works, theft, fire, and handling tenants and homeowners behavior etc. Board members have to ensure that all living in the community follow standard communication channels, covenants and restrictions (CCRs) to avoid legal complications. Who better to guide you than a property manager with experience? With an expert property manager, you’ll not only get this but they will make recommendations for regular checks, tweak your guidelines, and ensure everyone is notified of the same, on time. Anyone who claims ignorance, your HOA will have the proof to show that they have been warned.

All’s in a Day’s Work

Who doesn’t want to enjoy a life without the spice once in a while? Hiring a property manager for your HOA would be one such luxury as well as a necessity if your HOA is large, and if you feel you’re not doing enough to run it efficiently. Volunteering service may be noble but the cause is lost if at the end of the day you and your community is not getting what you’re looking for.