Ten percent of Tennessee's homes reside in HOA communities.
If you're one of the homeowners living in an HOA, there's a decent chance you're not loving it. There's an epidemic of poorly run homeowners associations in our country, mainly due to the people in charge. Ill-equipped and inexperienced volunteer homeowners lead most HOAs.
Hiring a home owners association manager can greatly improve your HOA. Read on as we explain what an HOA manager does and how they'll take your community to new heights in 2024.
Accounting Services
Of all the skills and responsibilities of an HOA manager, arguably the most important is money management. Too many HOAs allow a volunteer treasurer to look after the finances of the entire community. If your accountant doesn't have experience, it's going to be bad news for your HOA.
In the worst scenarios, poor money management can lower property values and drive up HOA fees. Fortunately, when you hire management services, you'll get an experienced accountant. They'll collect HOA dues, perform bookkeeping duties, and create viable budgets that maximize the community's finances.
Vendor Coordination
The biggest perk of HOA living is having a well-maintained community. When a community looks and feels good, it doesn't just promote safety and comfort in the community; it also becomes more attractive to property investors.
When investors want to buy in your community, property values go up, sometimes as much as 4% higher than homes outside of the HOA. To make sure your community gets the maintenance it needs, you need local vendors.
HOA management brings existing vendor relationships to the table. They'll contract services and schedule them as needed. These vendors range from weekly trash pickup to seasonal landscaping.
Governance
All HOAs are ruled by a set of governing documents. These are the regulations that all homeowners must live by. Each HOA has unique rules, but many of them have clauses around allowing pets, where to park, and whether renters are permitted.
Whenever you're governing dozens of homeowners with a set of rules, you're going to have rule breakers. An HOA manager can enter the picture and issue penalties to these bad actors. They can also diffuse arguments between homeowners to ensure greater harmony in the HOA.
Running Meetings
An HOA community needs to meet regularly to discuss important matters. Likewise, the HOA board must meet to discuss the day-to-day decision-making in the community. If these meetings are unorganized, they won't be fruitful and the community will suffer.
A community manager will use their experience and expertise to run effective HOA meetings. Furthermore, they'll use the same skills to enact whatever important decisions come out of the meetings.
Get the Best Home Owners Association Manager in Nashville
These are just some of the hats that a home owners association manager can wear. When you select a good HOA manager, you'll get a team of people that back up your HOA board and turn a lacking community into a thriving one.
For Nashville associations, the best choice is always PMI Whiskey Trail. We're a top full-service HOA manager offering all of the services discussed here and more. Contact us today to learn what we can do for your community.
