An HOA is a community of a planned settlement comprising various families. Usually, HOA’s have a group of board members for handling the association’s responsibilities. However, most of these members are volunteers and are not always available. Since it is not their job, they are not always around.
Chandler HOA management companies comprise skilled and experienced staff. They can manage a broad range of duties, from handling finances to proper background checks on new tenants and managing vendors.
Benefits Of Hiring An HOA Management Company
- Handling finances
Finances alone are a complicated thing. When an untrained and inexperienced group of people handle finances, it can lead to disagreements. Knowing which investment is good for the community and which ones to avoid is essential. An HOA management can analyze your community’s needs and create a suitable financial plan. Moreover, when a third party handles the finances, the tenants would not worry about a conflict of interest.
- Legal expertise.
In a community where so many people live, disputes and disagreements are bound to happen. Usually, HOA board members do not have legal expertise in how to handle these disputes. An HOA management company has sufficient background in law and can provide legal advice. They also have contacts with professional help to represent you in court.
- Finding tenants.
Often people who buy houses in an HOA rent them out to other people. However, knowing where to find suitable tenants can be a laborious task. HOA management can take this burden off you by conducting several background checks on people before renting your property to them. For example, an HOA team will check their criminal records, employment information, credit reports and talk with past landlords. They can also collect rent, dues, and payments on behalf of you.
- Add value to the property.
According to a study, it was found that a house within an HOA management sells for 5% to 6% higher prices than houses that do not hire HOA services. An HOA management team has expertise in maintaining the community so that the residents have no complaints.
An HOA team is always available to respond to phone calls and emails; therefore, they can be of great help during emergencies. A skilled team always looks out for your houses and evaluates their condition to maintain the community’s aesthetics. All these factors accumulate a good reputation, which increases the value of the community as a whole.
- Gives free time to board members.
Board members are common people with families and other jobs. Being a board member of an HOA does not pay their bills. Therefore, they may not always have the time to look into HOA-related issues. Hiring a management team can take the pressure off them so that they look into the minor problems of the association and enjoy their personal lives as well.