Do you want to invest in a community with booming property values?
Homeowners associations differ from traditional neighborhoods as they have HOA managers overseeing community operations that regulate visual and behavioral integrity. Recent data suggests that HOA homes have a combined property value of $11 trillion.
Over 2.5 million HOA homeowners serve on homeowners association boards in their communities which speaks to another unique point about HOAs. One of the primary roles of association management is to tap into leadership potential within communities to create proactive HOA boards.
Discover more community management best practices for homeowners associations.
Association Management Establishes a System Of Rules
A hotly debated topic within the HOA world is community violations. The HOA violation system may make some interested parties apprehensive about moving into a homeowners association. However, these systems are in place to ensure guidelines are followed to safeguard and increase property values.
An HOA may have strict rules in place for landscaping.
Homeowners may be subject to penalization fees for letting their yards overgrow to the point of being a nuisance. They may be prohibited from planting certain plants or installing other yard structures. These rules are in place to ensure the community retains a clean, welcoming look which protects property values.
Financial HOA Management
Homeowners associations need strong financial backbones to maintain thriving communities. Another role of an association manager is to train and guide HOA boards on community investment decisions, like new community parks and recreation centers.
HOA boards are also encouraged to facilitate neighborhood events to improve community building. A project manager must seek approval from the board to receive the financing necessary for a street carnival, block party, or holiday event. HOA boards may also decorate their communities with Christmas lights or lamppost ribbons for the holidays.
Association community management works with HOA boards to maintain a reserve fund. All HOA homeowners must pay dues to live in a homeowners association. Transparency is key when investing these funds for community well-being.
Efficient Association Management for Board Meetings
The use of reserve funds is another hot topic at HOA board meetings. Homeowners want to see that their dues are being spent properly on community projects; this is another reason why HOA board members need to be elected by members of their community.
Association managers help new HOA communities choose meeting spaces and hold elections. These boards are organized with a president at the helm, followed by a vice president position, and so forth. Dues-paying HOA homeowners elect these positions; like any other election, current and prospective board members must make their case to the community.
Association managers are employed through property HOA management companies like PMI Mission Viejo. They handle financial reporting and ensure these documents are given to the board.
Invest In a Thriving HOA Community
Ensure the HOA community you're investing in has a top-notch association management solution. Diversifying your real estate portfolio with HOA developments is an excellent way to keep properties with high values.
The leadership team at PMI Mission Viejo is licensed with VRMA, NARPM, CAI, and the California Dept. of Real Estate. Our background in emerging technologies gives us a data-driven edge in HOA management. We're committed to optimizing HOA portfolio returns through measurable results.
Book an appointment to learn more about the prospects of HOA investments.
