Budgeting, billing, assessment collections, financial reports, deed oversight, field inspections, maintenance requests and other functions within a planned community are all regularly handled through an HOA management company once assigned by the board of directors. Due to the wide range of functions commonly executed by an HOA management company, staff with an empathetic ear and a commitment to communicate is imperative to an admirable operation. Members of a homeowner’s association are essentially shareholders in their community and expect to be treated with a certain level of respect. Many HOA’s and HOA management companies have fallen victim to the negative stigmas of prior organizations. The number of resources and level of technology available to HOA management companies currently overseeing planned communities far exceeds that of prior generations. Utilizing the internet and digital communications technology can assist HOA’s in providing high levels of service and transparency through interfacing online. Homeowners who have regular access to the dealings and expense projections of their community will be less likely to doubt the integrity of an HOA management company operation or request for increase in assessment.
Above all other considerations, members of a community will expect their HOA management company to value their property and the long-term success of their community. Keeping property values up through regular maintenance, anticipation of marketing opportunities and open lines of communication with residents is the ultimate goal of a successful HOA management company. The development of a community into a profitable endeavor for investment and growth is possible with savvy oversight from an HOA management company. Builders and developers who recognize the earning potential of a well-run community are likely to contribute to expansion and upkeep that benefit all those residing within its boundaries. The extent to which a planned community appeals to builders and developers is a reflection of how well the HOA management company is run.