Forming an HOA in your community can help increase your home value. Considering that the median home value in Denver has gone up to $590,000, people may want to protect this new home value.
To do that, it is recommended that you hire a property manager for your HOA. What can community association managers do for your HOA?
This guide breaks down their biggest tasks.
Enforcing the Rules
One of the biggest things that an association manager does for an HOA is to enforce the rules that the HOA drafts. This can be anything from what the exterior of a house looks like to how people individually behave within the community.
An example of behavior could be the HOA having an agreement that no loud parties are allowed to be thrown in the neighborhood after midnight. If a house has a loud party going on after this time, it could be up to the association manager to take proper action.
Another example could be a homeowner in the community that wants to paint their house a different color. Your HOA may have already agreed to only paint houses neutral colors such as silver or brown.
However, this homeowner may go ahead and paint their house pink without asking the HOA. In this situation, the association manager would have to tell the homeowner that this is not allowed and to paint their house back to the original color.
In other words, the association manager is the person that makes sure that your community's rules are being followed.
Handling Maintenance Services
Another thing that an association manager is in charge of is handling maintenance services. This is the person that budgets for these services, finds the appropriate contractors to take care of these services, and inspects the neighborhood to see what needs maintenance.
An example could be realizing that most of the homes in the neighborhood could need a big upgrade with water pipes or electrical lines. An association manager has to decide how to handle this and how it will impact HOA fees.
In general, it is recommended that homeowners budget 1% of their home's value annually for maintenance needs. An HOA manager can use this as a guideline to determine an appropriate budget for home maintenance.
On top of this, the association manager has to make sure things in common areas, such as playground equipment, fences, and pools, also receive routine maintenance.
Use Community Association Managers
These are just a couple of the tasks that community association managers are responsible for.
One of the biggest things to remember is that this person is typically responsible for enforcing all of the rules that an HOA has. On top of this, they are going to be the people that handle almost all of the maintenance needs for a community.
Do you need community management? Message us here to see how we can help.