Long Island is known for being an HOA-heavy state full of gated and non-gated HOA communities.
Do you live in one of these communities? HOA living should give you a high quality of living, as well as valuable assets over the long term. If you feel that your life is unnecessarily difficult because of your HOA, association property management is available.
Today's post will tell you how association management can preserve and boost community assets. You don't have to wait for a poorly managed HOA to turn things around. Keep reading and learn more about the benefits of property management services for community associations.
HOA Vendor Coordination
The thing that'll best preserve your community assets is strong vendor coordination. HOA maintenance is crucial for two reasons. It ensures the safety and comfort of all residents and it brings investor interest to the community.
An attractive community that gives homeowners a great HOA lifestyle will entice buyers. The more interest there is in your community, the higher property values will rise. There's evidence that the most desirable communities have homes nearly 5% more valuable than non-HOA homes.
So, how does community management factor into this? They bring strong vendor relationships to your community. Whatever maintenance your HOA needs - garbage collection, snow removal, landscaping, etc. - they'll have the right vendor under contract and scheduled as needed.
Improved Accounting Practices
Communities pay for things like maintenance, repairs, and new amenities with money from HOA fees from individual homeowners. Accounting plays a major role in the ways these monies are spent and whether or not the community can maximize its resources.
As you know, an HOA board of directors is made up of volunteer homeowners. They're not professional accountants. When you have poor bookkeeping and budgeting, the money tends to not go as far as it could.
The result of financial mismanagement is raising fees for homeowners to compensate. It also means sacrificing certain aspects of HOA living, whether it be maintenance or amenities. Professional accountants from HOA management services will preserve the health of community assets.
More Community Cohesion
HOA meetings bring communities together to discuss important matters. These matters pertain to things like amending governing documents and/or choosing new amenities. When your community communicates well and pulls in the same direction, it improves things across the board.
You need good leadership to make this happen. A community manager will bring homeowners together with organized meetings. They'll make sure everyone can voice an opinion and enact the group's wishes when it reaches a consensus.
Association Property Management in Long Island
Preserving a community's assets is integral to successful HOAs. If your HOA needs a bit of help with the things mentioned here, association property management is the answer. To get the best HOA manager in Long Island, look no further than PMI Gold Coast Properties.
We're Long Island's premier HOA manager and part of the country's top property management group. To learn more about how we can preserve your HOA's assets, contact us today.
