Florida leads the way in homeowners associations (HOAs). According to South Florida Agent Magazine, 45% of homes here belong to one. Of the Sunshine State's 8.6 million houses, 3.9 million have an HOA.
As the same article pointed out, one possible reason behind HOAs' popularity is that properties with one tend to be worth 4% more.
However, problems like declining HOA property value and disputes can ensue without expert management. Fortunately, Tampa HOA members can prevent these problems by following association management best practices.
Join us at PMI Tampa as we explore the top strategies for effective community management and association governance.
Clear and Transparent Communication
Poor communication between the HOA board and homeowners can lower resident satisfaction.
For instance, say that an HOA board only provides a copy of the community's covenants. However, it fails to explain them in easy-to-understand language.
All those jargon and technical terms can lead to misunderstandings. As a result, residents may unintentionally violate the HOA's covenants and face hefty fines.
Residents already pay significant homeowners association fees. Having them pay fines they could have avoided will likely lead to clashes and disputes.
So, prioritize clear communication as part of your community's best management practices. Use tools like newsletters and online portals to disseminate information.
Your HOA should also have a support team that promptly answers questions and responds to residents' issues. Ideally, they should respond within the same day or 24 hours.
Prompt HOA Maintenance Planning and Scheduling
According to a June 2024 article by MortgagePoint, owning and maintaining a single-family home now costs 26% more than four years ago. Despite this, it's never a good idea for homeowners to delay upkeep and repairs, as it can lead to worse issues. The worse the structural or maintenance-related problem is, the costlier it can get.
For those reasons, effective association management also involves prioritizing property maintenance. Your HOA can simplify the process by giving residents access to a dedicated owner portal. Here, they can conveniently schedule maintenance requests online.
Your HOA should also partner with building contractors that provide 24/7 services (e.g., emergency plumbers and HVAC companies).
Professional Association Management Services
The most convenient, straightforward way to manage an HOA is with the help of expert association managers. They can handle many of the board's duties and manage many aspects of the HOA, such as:
- The community's finances (e.g., financial records, dues, fees, budget, etc.)
- Admin tasks (inquiries, covenant enforcement, HOA meetings, etc.)
- Maintenance (e.g., property inspections, repairs, upkeep, and 24/7 support)
With a dedicated HOA manager, your community can become a better place where residents are happier and more satisfied.
Partner With PMI Tampa
Now that you know more about effective association management, it's time for your HOA to consider partnering with us at PMI Tampa.
PMI Tampa is a full-service association management firm specializing in the above (and much more!). From financial to administrative and structural maintenance management, we can do all these and more for your community. We're a locally owned and operated company but are also a proud member of PMI, a larger franchise that has continued to improve the association management industry for 20+ years.
Reach out today to request a bid and learn more about how we can help your HOA!
