It is becoming more and more popular to hire a community association management company to run an HOA. In the United States, these companies manage up to 70% of all HOAs.
However, there are some misconceptions out there about what companies like this actually do. Read on to find out about three of the biggest ones.
1. These Companies Are the HOA
While community association management companies work very closely with HOAs, they do not actually replace the HOA board. Ultimately, they are merely a company that is hired by the HOA to help them run their community.
These companies can do things such as offer guidance on what the HOA board should do and help get them more organized. Yes, these companies can propose big-picture plans and are acting as consultants and managers for these HOAs.
However, you have to remember that at the end of the day, the HOA board has the power to veto some of these proposed ideas, even if it is not in their best interest.
2. HOA Community Has No Say
Some people may think that once you get a management company to work with an HOA, that will essentially shut out the rest of the members of the HOA community. This could not be further from the truth.
Management companies still make active efforts to keep the other homeowners in the community involved and informed.
An example can be coming to an agreement on what efforts should be made to increase curb appeal for all of the homes in the neighborhood. The community managers may propose some ideas that may get a lot of pushback from members of the community. As a result, the managers will go back to the drawing board and try to come up with a more appealing plan.
About 99% of realtors say that curb appeal is important when attracting a buyer. So, community managers may relay this to homeowners in the community and try to come up with a reasonable compromise to meet this goal.
3. Only One Type of Company
Finally, people may put HOA management companies all into one box. The truth here is that this comes in many different forms depending on what kind of community you have.
Are you a small HOA? Are you a large HOA with over 1,000 households? Or, are you an HOA that specifically centers around condos?
Whichever category your HOA falls under, you need to make sure that you work with a management company that can meet your niche.
Hire a Community Association Management Company
These are three misconceptions that people may have about community association management companies. Remember that these companies do not take over an HOA and merely work with that HOA to make it better.
On top of this, do not think that a management company will shut out the rest of the community if they get involved with operations. They will listen to the community's questions and concerns.
Then, you can find the right management company for your HOA. Message us here to get started.