Did you know that Home Owner's Association (HOA) fees can go as high as $10,000? Of course, fees this high only tend to occur in high-earning communities. If you set HOA fees this high in middle-class communities, your community will struggle to sell homes.
But how do you know the best monthly fee to set? If you're struggling with this, you may want to hire a community association management service. They can help you with HOA matters you don't understand.
That isn't the only benefit that community management services can bring you. Read on to learn about four more of them.
1. Legal Expertise
The workers at an HOA management company don't only know the best ways to handle HOA matters. They also know how to do it legally. They either know the necessary laws or they know who to reach out to for help.
Yes, there are state and city laws that dictate what HOA associations can and can't do. If an HOA doesn't follow these, it could face legal ramifications.
The problem is that HOA board members may not have time to learn all the laws. Even if they do, they may not have time to constantly update their law knowledge. If this is the case, board members should let HOA management services handle all legal matters.
Maintaining a beautiful community takes a lot of work. You will need some of the best industry professionals to maintain this beauty.
Do you not know any professionals like these? If so, you may need to do thorough searches and eliminate professionals that aren't up to snuff. However, this takes a lot of time.
An HOA manager should have relationships with industry professionals. So, if you hire one, they'll get you the best industry professionals right away.
3. Share the Workload
HOA board members are rarely employees. They're usually volunteers. So on top of their HOA responsibilities, they may have full-time jobs, families, etc.
This situation can make it hard for HOA board members to do everything that needs to get done. However, board members will have a lot less on their shoulders if you hire an in-person or remote HOA management team. They can take a part of, if not all, of the burden.
4. Financial Collections
HOA board members often know the people they need to explain fee hikes to and collect fees from. So the members may struggle to do their job effectively.
It's better to hire an HOA manager to handle financial matters. They'll be a third-party group with no conflicts of interest.
Hire Our Community Association Management Services
HOA work may feel like it's impossible to do, even if it isn't. Yet, if you hire a community association management service, it will feel far less impossible.
Do you need HOA management services in the Boston, Massachusetts area? If so, consider hiring us. We're a full-service real estate property management company that offers our customers high-quality services.
Contact us today for more information.