As a member of your Home owners Association (HOA) board, it’s obvious you care a great deal about your community and the people within it. That’s why you’re willing to donate countless hours of your free time to make sure that the community looks its best. But sometimes as much as you try, you just don’t have all the answers.
That’s why an HOA Management Company like PMI Prince William can be just what you and the rest of your board need. To keep track of all the little things that come with managing an HOA as well as some of the big ones.
HOA Dues and Bills
It’s tough to keep track of who has paid into the HOA and who is behind on payments. And if someone is behind on payments, you need to hound one of your neighbors to make sure he or she catches up. That’s more than a little awkward.
Then there are the bills to pay out of the account to the landscapers, the repairperson, the garbage company. It’s a part-time bookkeeping job at best.
HOA management companies can take that responsibility out of your hands. We track all of the payments into and out of the HOA account. We contact homeowners who are behind on paying their dues and we never have an awkward meeting at a mailbox after collecting the money.
We’re an impartial third party that manages the bills and the bookkeeping.
You also don’t want to confront your neighbor about a violation of HOA rules, but someone has to. It’s important that everyone in the community is following the community rules and sometimes neighbors need to be reminded of that.
It’s a lot less awkward if an impartial third party like an HOA management company is doing the reminding.
It’s time-consuming to get quotes from landscaping companies and then negotiate a contract. Finding a reliable and fair priced handyman that’s available when you need him or her can be difficult.
HOA management companies have already established relationships with multiple experts in these fields. We have networks of service companies to make sure we’re using the best and most reliable services every time.
Maintenance and Inspections
An HOA management company also makes it our business to know what maintenance is needed and when. We keep track of things like roof inspections; we remember to clear out the gutters before the winter; we keep an eye of the sprinkler system to make sure there are no leaks.
We keep a calendar to make sure all of the preventative maintenance is done on-time and on budget.
Speaking of maintenance, there’s nothing like waking up at 4 a.m. to a call about a burst pipe. It’s a perfect way to guarantee that you’re going to have a long morning and a long day at work.
HOA management companies are on call 24/7/365 to deal with any emergency that happens in your community. That means you can get your sleep and enjoy your Thanksgiving meal if and when an emergency strikes.
Rules and Regulations
Virginia is constantly updating their laws and regulations. It can be a full-time job just to keep up.
HOA management companies keep up with those new regulations because it’s our job. We get paid to keep track of these changes and how they impact communities like yours. We monitor what’s working its way through the state legislature. We make sure we know what’s changed and what’s going to change soon.
Then we communicate those changes to our HOA clients.
As an HOA board, you are held to certain standards when it comes to state regulations. You are required to have certain documents that you can supply to government agencies, keep specific financial records, and facilitate business meetings with accurate and timely meeting minutes.
HOA management companies are there to assist with document preparation, meeting facilitation, and record-keeping so that your board is operating efficiently, it is well-organized, and it is following all the rules.
Yes, in the short-term, it is cheaper to operate without an HOA management company. Your HOA board is made up of working professionals that are extremely competent and capable. They will manage.
However, the question you need to ask yourself is what will happen when there’s a tax audit or a compliance inspection by a government agency? What happens if one of the board members simply gets too busy at work or has a new baby? What happens if multiple maintenance emergencies strike at the same time?
Your HOA board will likely manage, but can they afford to give up all that time in the process?