If you invest in property in Florida, you know that you're doing real estate business in one of the most organized markets. 45% of homes in Florida are homeowners association (HOA)-controlled.
HOAs govern how condominiums, vacation homes, and other properties are run. They handle things like the maintenance of the common areas and property improvements.
The most effective HOAs have management companies offer support for the board and the oversight of the community. Let the tips below explain how hiring an HOA manager can help your association achieve excellence.
An HOA Manager Steers the Ship
You need a talented HOA Board with people who want what's best for the community. However, you also need an HOA manager to set the tone and direction.
HOA managers will help your board make decisions, set meeting agendas, and keep your board on track with its goals. This level of oversight makes life easier for the board members so that they're more effective in their roles.
They Collect Dues and Handle Billing
An HOA manager will also make sure that you collect fees from your individual members. These dues are responsible for the growth of the HOA and are charged each year to owners.
It's important that you make your HOA fees clear and easy to understand. A property management company can bring transparency to how the rates are set and what they entail.
They'll send invoices and offer several payment methods and options. Having access to HOA management services keeps your accounting clean and on track, which will also help you run better meetings.
Professionals Will Offer Legal Service
HOA fees aside, you need a team of legal professionals by your side. This will help you if your HOA needs to go to litigation or settle matters outside of court. They'll offer you guidance when you're about to enter into contracts and can research real estate law in your area or state.
Having professional legal services on retainer also makes your board members more prepared and can help you avoid costly mistakes.
Managers Take the Load Off Your HOA Board
Perhaps the most important thing that Florida HOA manager services offer is relief to your board members. It's not fair to expect unpaid volunteers to do some of the extensive heavy lifting that comes with running a community.
A property management company can take care of several important tasks so that board members can focus on research and decision-making. They'll be more effective at what they're tasked to do when property managers are allowed to take care of the messy items that add up.
Reach Excellence With HOA Management
These tips show you what an HOA manager can do for your association. When you have a property that you're trying to get a return on investment (ROI) from, you can't cut corners with professionalism and organization. Hire the best HOA managers you can find so that your community is better for it.
PMI Pinellas can assist you when you need some of the best property management in Florida. Visit us during office hours or contact us online at 786-223-6998.