Why HOA Boards Benefit from Working with a HOA Management Company

1
Why HOA Boards Benefit from Working with a HOA
Management Company
2
HOA Management Company

• When a homeowner association (HOA) board hires a
  HOA management company, it often can mean the
  difference between success or struggles for a
  community.
• A management company can perform a number of
  important responsibilities on a daily basis.
• Some of the benefits a HOA management company
  provides include

3
HOA Management Company

• Clarity
• Management companies help ensure the HOAs rules,
  regulations and policies are clearly defined and
  communicated to members.
• They also make sure these rules make sense and
  are easy to follow.
•  
• Consistency
• A good HOA management company enforces rules and
  policies with consistency.
• The management company makes sure theres no
  perception of unfair treatment or favoritism
  among members.
• It will also deal with any problems as soon as
  they surface.
•  

4
HOA Management Company

• Legal Knowledge
• A HOA management company is often very
  knowledgeable regarding legislation affecting
  homeowner associations.
• The company will understand how the HOAs
  policies, and enforcement of the policies, best
  conform to the law.

• Varied Expertise
• A HOA management company will have diverse
  professionals on staff, including experts trained
  in property management, finance, accounting,
  human resources, marketing and more.

• Vendor Management
• Management companies are experienced in building
  solid vendor relationships. They know how to
  keep issues from escalating.
• Vendors may be more inclined to work with
  professionally managed HOAs because they know the
  chances are high the community will be well run.

5
HOA Management Company

• Neighborhood Commitment
• Homeowners need to feel the management company is
  maintaining a safe, well managed neighborhood
  thats meeting their expectations.
• Its in the HOA management companys best
  interest to make all the members within the
  community satisfied with their services.
•  
• Open Communication
• A HOA management company can open the lines of
  communication among members.
• Its important everyone within the community feel
  comfortable voicing their concerns and ideas.
• A professional management company can bring more
  to the table than just enforcing HOA rules.

6
HOA Management Company

• What Type of Community Should Hire a HOA
  Management Company?
•  
• Often, size dictates whether a HOA hires a
  management company.
• A smaller community may opt to be self-managed,
  whereas a larger HOA may find it impossible to
  conduct business without the help of a trained
  professional.
• Although size is one criterion, its not the only
  deciding factor.
• A better way to decide whether to hire a
  professional HOA management company is to
  consider the following

Does the HOA manage many buildings, amenities and
properties? Does the HOA have a lack of
volunteers to manage the association? Do the
volunteers lack the skills and expertise to do
the necessary HOA management work?
7
HOA Management Company

• Some HOAs may find they need to supplement their
  volunteer work with an outside professional
  management company.
• For example, maybe the HOA management company
  will handle some of the accounting functions and
  board member volunteers manage homeowner
  communications.
•  
• However responsibilities are delegated between
  the board and management company, the focus
  should always be on maintaining property values
  and a sense of community.
• This is what will attract buyers to the
  neighborhood and keep current members happy and
  involved.

8
HOA Management Company

• AAM works with many of the largest homebuilding
  and community development companies in the United
  States such as Del Webb/Pulte, Shea Homes and
  Meritage Homes.
• Founded in 1990, the company employs 370 people
  and manages over 400 homeowners associations in
  the United States.
• AAM is dedicated to delivering total peace of
  mind to the Boards of Directors and homeowners in
  the communities it manages.

9
About the Author
Susan Williams is Vice President, Business
Development and Marketing at AAM Community
Management, one of America's most-respected
Homeowner Association (HOA) management companies.
Learn more about a HOA Management Company by
visiting http//www.AssociatedAsset.com.