Association Management: A Comprehensive Guide to Successful Operations

Association Management: A Comprehensive Guide to Successful Operations

Nearly 90% of HOA residents positively rate their experience living in a community association.

Not only do homeowners associations cultivate a strong sense of community, but they provide members with great amenities and a more leisurely lifestyle. This doesn't just happen by itself, however. Behind every great HOA is high-quality association management.

Today, we're going to discuss the benefits of association management for successful operations. Experiencing everything an HOA has to offer requires a great HOA board as well as an association manager. Keep reading and find out how these things work in tandem to bring your community together.

Setting Rules and Regulations

Association management companies work with your HOA board to come up with sensible rules and regulations. One of the main perks of living in an HOA is that you get a safe community of homeowners who follow the same set of rules.

There are always going to be those who bend and break the rules. Your association manager will ensure that regulations are followed, conflicts are resolved, and harmony is maintained in the community.

Organizing Board and Member Meetings

Open communication is vital for an HOA to work. Every HOA member should have a voice and a platform to make their voice heard. Members should be able to email or call the HOA board with questions and concerns.

Association property management companies work with your board to arrange meetings to deal with questions and concerns. Not only will they hold board meetings to deal with big decisions, but they'll also arrange member meetings so that everyone can get involved.

Budgeting and Accounting

An association property manager will also handle everything having to do with accounting and budgeting. They'll maintain the books by looking at the HOA fees coming in and money going out. They'll also file taxes on behalf of the HOA and ensure the community is in good financial standing.

One aspect of this has to do with budgeting. Along with the board, they'll create annual budgets that cover operating expenses and any projects in the works. In the end, they'll work to ensure that HOA fees remain stable without sacrificing community development.

Improving Your Community

Maintaining common areas is an important part of HOA management. These include parks and recreational areas, but also streets and sidewalks. Association property management will work with local vendors to arrange for regular maintenance.

They'll also look at potential improvements to the community. Whether it's a new playground or a dog park, they'll look at the budget and get quotes from vendors to determine which projects to move forward with.

Hire Association Management in Smyrna Today

These are a few of the benefits of professional association management. If you want to improve your community, hiring a reputable and experienced HOA property manager is the way to go.

PMI Terminus is part of one of the largest property management groups in the country. Our association management services will support your HOA board and improve life for everyone in the community. Contact us today to learn more about what we do and how we can help.