It's estimated that 74.2 million Americans live under a homeowners association. Despite their reputation, many homeowners love their HOA. However, this is typically only true when it's properly managed.
Sadly, many HOA boards simply don't have the time, resources, or manpower to make sure the community is running smoothly. One solution to this problem is an HOA property manager.
But exactly what is an HOA property manager? And is HOA management the right call for your Austin, Texas community? In this guide, we'll answer these questions so HOA boards can decide if they want to bring on one of these professionals.
What Is an HOA Property Manager?
HOA fees can get expensive. It's estimated that the monthly average is $191. In exchange for these fees, homeowners expect something in return. That might be trash services, community landscaping, or added amenities.
Unfortunately, many HOA boards aren't able to deliver these basic services. That's why they turn to an HOA property manager.
These are professionals who take over a lot of the busy work that your HOA board has to deal with. This, in turn, frees up the board to focus on more big-picture things.
What Can They Do for Your HOA Community?
The specific type of services offered by an HOA manager will depend on the management company. For example, here at PMI Austin Metro some of the services we provide in terms of HOA management include:
- Accounting
- Reporting
- Vendor coordination
- Compliance
- Inspections
- HOA maintenance
- Fee Collection
Keep in mind that most HOA property managers can be quite flexible. Some HOAs might only need help with accounting or vending. Others might require every service a management company offers.
What Can They Not Do?
It's important to remember that an HOA property manager will never replace the HOA board. That's because certain HOA board responsibilities simply can't be outsourced.
That starts with organizing a budget and dealing with finances. Managers also can't change the covenants, conditions, and restrictions set by the HOA community.
Generally, it's a good idea for the board to enforce these rules since they're more familiar with them.
Is HOA Management Right for You?
If you find that your board is spread too thin in terms of their duties, then it might be time to get an HOA property manager. The same goes if everyone on your team is fairly inexperienced with things like compliance, vendor coordination, and accounting.
A professional can go a long way toward streamlining things. If you aren't sure whether or not you need one, consider organizing HOA meetings with the community.
Explain the needs of the board, then vote on whether or not an HOA property manager is the right choice.
Interested in Community Management? Contact PMI Austin Metro
We hope this guide helped you learn more about what an HOA property manager does. Here at PMI Austin Metro, we know that HOA problems are a lot like the mythical hydra: you deal with one problem and two more grow back in its place.
That's why we deal with all of the headaches for you, whether it's dispute resolution or vendor management. So if you're ready to improve your Austin, Texas HOA get in touch with us today.
