If you own a property in a condo, townhouse, or a new single-family home community, it might be governed by a Homeowners Association or HOA. Usually, HOAs are governed by volunteers that board of directors elects.
Although your HOA helps maintain curb appeal, property values and quality of life, managing HOA has other aspects that volunteers may not be able to handle. This is the reason HOAs would partner with phoenix hoa management companies. Here’s why:
They Have Expertise
Professional managers undergo hours of training; thus, they usually possess knowledge on a range of topics. A lot of them hold certifications and designations that can offer HOAs with confidence in their service and commitment to the industry.
They are Experts at Managing Financials
Volunteer board members are tasked to ask their neighbors for past due assessments. For them, this can be one of the hardest tasks they have to do. But, an HOA management company would not have this conflict of interest and can be more effective in collections than volunteer board members.
They Know the Laws that Affect the Association
A lot of states, including Arizona, have highly regulated frameworks that could make it difficult for a volunteer board member to keep up with new laws. Professional managers are familiar with the laws that impact the HOA and have professional contacts to which the HOA should be referred for certain legal issues.
They Have a Big Network and Systems in Place
HOA management companies have access to an entire network of individuals with whom they have worked within the industry. With their experience with vendors like landscaping, maintenance, and pool services, HOAs will be saved from making costly mistakes. Also, their systems will benefit Associations. Investments are made in technology and staff. Management companies refine the systems they put into place over many years, saving HOAs lots of headaches.