According to the most recent available data from ThisOldHouse.com, as of 2021, homeowners associations (HOAs) managed 358,000 U.S. neighborhoods. With 50,010 associations, California has the most HOAs and people living in HOA communities: 14.3 million!
The site also pointed out that HOA property management companies manage about 60% to 70% of associations. They're crucial in maintaining HOAs and provide invaluable assistance to HOA boards and residents.
But what exactly can they do for your Menifee, CA, HOA?
Read on, as our experts at PMI Smarter Solutions will explore how HOA management professionals enhance community quality.
Simplifying HOA Board Management
Being an HOA board member is a voluntary, unpaid position. Despite that, they have a lot on their plates. The association's overall management responsibilities fall on HOA board members.
HOA Board Member Duties 101
HOA board members in Menifee, CA, have many managerial and admin roles, such as:
- Financial management, including setting and collecting HOA fees, budgeting, and recordkeeping
- Enforcing rules, like ensuring all residents follow the HOA covenant and fining them if they don't
- Communicating with homeowners, addressing concerns, and mediating conflicts
- Overseeing community maintenance, selecting vetted contractors, and scheduling property upkeep and repairs
How well HOA board members play their roles can impact a community's property values and residents' quality of life. For instance, as the National Association of REALTORS (NAR) points out, homes with HOAs tend to be worth 5% to 6% more. Functional HOA boards can contribute to this property value increase.
The opposite can occur if HOA board members fall behind in their duties. For example, if they become too busy with their personal lives, careers, or paying jobs.
Professional HOA Property Management to the Rescue
Menifee HOA property management companies deliver full-service community management solutions, such as:
- HOA board guidance
- Accounting and financial reporting
- Enforcing community rules
- Serving as the point of communication
- Community oversight
Unlike HOA board members who don't get paid, homeowners association property managers do. The community pays them to manage the HOA, so they must, by law, do the jobs the HOA contracted them for.
Boosting Property Values With HOA Property Management
Properties with HOAs are worth more than those without HOAs because:
- They have exclusive access to community amenities like pools, fitness centers, and clubhouses
- Professional contractors regularly maintain HOA amenities
- HOA homeowners must abide by strict architectural standards (e.g., timely maintenance and repairs)
Property managers oversee the community's shared amenity maintenance. They remind homeowners to adhere to the HOA's architectural rules and enforce penalties on those who don't.
Plus, HOA managers can recommend reputable building contractors. With their guidance, homeowners can stay on top of property upkeep and value-boosting home improvements.
Time to Partner With an HOA Property Manager
Trustworthy HOA property management pros can help boost the overall quality of your Menifee HOA. They can help with efficient board management and rule enforcement. They also provide invaluable guidance to homeowners, especially for home improvements and upkeep.
PMI Smarter Solutions is your go-to for full-service HOA management in Menifee, CA. Our father-and-son owners and operators, Ernesto and Loren Arce, have 17+ years of property management experience. We also have a management portfolio of 3,500+ units.
As highly experienced real estate experts and licensed realtors, we have what it takes to enhance your community's quality. So, reach out today to request a bid or a complimentary property analysis!
