If you live in one of the nearly 12,000 HOAs in Massachusetts, you may be wondering how you can improve your community.
There are undeniable benefits of living in a homeowners association. You get safety, high property values, and unique amenities you won't find in other communities. You also get a say in the direction of the community as a whole.
All of this, however, is dependent upon the quality of your HOA leadership. In today's post, we'll look at some of the important things HOA management companies bring to these communities. If you don't think your HOA board can support the community alone, keep reading and find out how property management can help.
Build Vendor Relationships
One of the lifestyle perks HOA homeowners enjoy is regular maintenance of common spaces. The community as a whole has to look after its own landscaping, garbage removal, road repair, etc.
An organized HOA board will make sure local vendors come as needed to deal with regular maintenance, as well as repairs. If your HOA doesn't have the capacity or time to write up vendor contracts and build these relationships, the homeowners are the ones who suffer.
HOA property managers have a lot of these relationships built into their services. They'll ensure your HOA gets the attention it needs without spending too much of the HOA money.
Experience with Community Building
You need your leadership to listen to what all of the HOA members are saying and try to implement their wants and needs into future plans. Organized HOA meetings will help to get the entire community on the same page. Homeowners should have a chance to voice their opinions about everything from new developments to rules and regulations.
Once the leaders have this information, they can work to improve the HOA in a way that suits everyone. HOA management can use their community-building experience to help formulate actionable plans.
Financial Betterment
When an HOA is well-run, property values can be as much as 4% higher than similar homes outside the HOA. Maintenance and community development play a big role in this, but so does the community's accounting.
You need an experienced accountant to properly manage the HOA's finances. An HOA manager can be this accountant, budgeting for the cost of maintenance and upcoming developments. At the end of the day, HOA members will have lower HOA fees and higher property values.
More Harmonious Community Living
Rules play a big role in HOA living. When you've got rule breakers, it can create tension between homeowners. It then falls to the HOA board of directors to diffuse this tension and hand out punishments, which can be awkward and create a strange power dynamic in the community.
An HOA manager is a third party who can act as an authority to enforce regulations. You'll have greater harmony in the community and bad actors will have to obey the community-wide rules.
HOA Management Companies in Boston
If you want your Boston HOA to thrive, you need to consider the value of HOA management companies. At PMI Bay State, we offer all of the benefits we've discussed here and more.
To learn more about our services and how they'll improve your community, don't hesitate to contact us today.
