Homeowners Association (HOA) membership can cost up to $600 per month.
Many members ask themselves whether the fee is even worth it. But the reality is that HOAs do a lot for their communities without ever being noticed.
Yet there's always trouble around the corner, and staying on everybody's good side isn't easy.
Read on to find out what the association manager does-and why it's so important.
HOA Management in Brief
The Homeowners Association is a private association formed by a real estate developer. Its purpose?
To market, manage, and sell homes in a neighborhood.
Once a developer sells a predetermined number of lots, they turn over HOA management to the homeowners. Members pay dues and are expected to abide by the association's rules. Property maintenance, noise levels, and architectural standards are common.
Why?
The HOA exists to preserve property values. It benefits everybody. While some HOAs can garner a bad reputation for being bookish or meticulous, the truth is that HOAs help homeowners get the most out of their properties-and attract the highest prices for their homes when they decide to sell.
The Role of the Association Manager
Effective HOA management is vital for the success of any homeowners association. Without it, the HOA can quickly become disorganized.
Association managers maintain the core functionality of the HOA.
They make sure services are provided, rules are enforced, and dues are collected. In doing so, they create a culture where residents feel heard and valued. Some association managers act as problem solvers and mediators in the event of a dispute.
Some resolve community conflicts. It's a role of immense responsibility and importance and has a direct impact on the lives of those in the community.
Managed well, the HOA becomes a powerful force for positive change. Yet under the leadership of a poorly suited association manager, the HOA can do more harm than good.
Key Traits of an Effective Manager
What separates the good apples from the bad?
While the responsibilities of an Association Manager are many and varied, there are certain skills that make them more effective. As mediators at the center of the community's best interests, effective communication is an association manager's best friend.
From homeowners to board members to contractors, association managers interact with a lot of people-and have a lot of people's best interests to consider. Being able to communicate effectively and professionally with all these different parties is crucial.
Another vital skill is financial management.
Association managers handle the association's finances, which can be substantial. A solid understanding of budgets and financial reporting is essential. This includes using complicated financial software and creating (and interpreting) financial reports.
Finally, association managers need to be strong problem-solvers.
Encountering disputes and disgruntled residents is inevitable. Being able to think critically and act with a cool head is a key part of the job.
Unsung Heroes of the HOA
The association manager makes a real difference in people's lives, creating communities where residents feel valued and listened to. But it takes hard work and determination to do the job-and do it well.
With each day, they have the opportunity to learn, grow, and network with professional advisors who can support and advise their positions.
If your HOA needs professional assistance, PMI Phoenix Golden West can help. As a full-service real estate management company, we tailor our services to meet the needs of each community we manage. Learn more about association management here.
