While Arizona has the highest volume of HOA communities in the US, they aren't all the same quality. Typically, a home in an HOA community has increased value. But this only applies when the community is managed correctly.
It is the association property manager that ensures the community's success. They perform these tasks as a part of their daily duties.
They Are More Than a Property Manager
A property manager takes care of rental properties. They market the property, screen tenants, collect rent, and manage property maintenance.
The duties of an association property manager are different, as they don't manage individual properties. Instead, they strive for the betterment of the whole community versus a single house.
People buy properties in HOA communities for the property value. Homes in these community associations are consistently higher than comparable homes that are not in an HOA community.
One reason homes have a higher value is the additional amenities and beautiful shared spaces. The manager ensures that these spaces stay well maintained. This could include equipment inspections, grounds maintenance, and strategic improvements.
They will create a preventive maintenance plan. Then, arrange for vendors to perform the necessary work. Finally, they seek out suggestions for future upgrades and improvements.
One responsibility of the HOA board is to set an annual budget. This money allocates the homeowner's fees to maintain the community.
The manager takes this budget and manages the day-to-day spending. This includes reoccurring operational expenses, vendor invoices, and anything else that needs payment.
The manager actively enforces the HOA rules and regulations. They ensure community homeowners follow the rules and maintain their homes. If they find violations, they will issue a notification and follow up with the homeowner.
Managers also stay knowledgeable about changing Arizona HOA laws. That way, the HOA can ensure they do not violate any laws that can put the HOA in legal jeopardy.
The manager needs to have a strong network of vendors. They will research and screen potential vendors. Then, gather quotes and bids to submit to the HOA board.
With vendors who have signed contracts, they manage service and payments.
The HOA needs to have insurance to protect them and the community. The manager will purchase and maintain insurance policies to cover the grounds and potential liability.
Community managers will prepare and issue communications to homeowners. This helps keep them updated on events, meetings, and rule changes. They will respond to inquiries and relay important messages to the HOA board.
Hire an Association Property Manager
An association property manager can handle the day-to-day management of an HOA community. These efforts go beyond property management, ensuring the success of the community. Their oversight extends to community upkeep, accounting management, vendor oversight, and rule enforcement.
The team of managers at PMI PHX SW assists HOAs in maintaining their communities. They provide valuable resources, from knowledge and experience to online portals and vendor connections.
Enjoy a smoothly run HOA community with the assistance of PMI PHX SW.