If you're lucky enough to own property in New York City, there's a good chance you're part of a condo association, co-op, or HOA.
When you pay your HOA dues every month, you expect a certain standard of living in return. Unfortunately, very few of NYC's HOAs meet their members' expectations. If this is the case in your homeowners association, it might be time to think about community association management.
Today, we'll explain the role that community association managers have in improving HOAs in New York. Keep reading and you'll know what these services do and why they're important for the success of a floundering HOA.
What Do Community Association Managers Do?
The roles and responsibilities of a community association manager depend on the needs of the HOA. If your community needs complete management, an HOA manager can deal with everything from accounting to HOA maintenance.
Accounting
HOA members should never wonder where their HOA dues are going. These member fees are pooled together to pay for everything in the community, from repairs to new amenities. If your HOA board isn't equipped with an accounting professional, things can fall apart quickly.
Association management companies have accountants on staff. They can collect HOA dues, perform bookkeeping duties, and create viable budgets. The results of smart spending are higher property values and lower monthly fees.
Property Maintenance
Community maintenance is another way to drive property values. If the community is in good shape, more people will want to invest in it. Poorly maintained communities can fall into disrepair.
Maintenance comes down to vendor coordination. A good association management company brings existing vendor relationships to your HOA. The result is regularly scheduled things, like snow removal or garbage pickup, and prompt repairs whenever needed.
Governance
HOA members must abide by their community's unique governing documents. There are always rule breakers, which is why it's important to have leadership that can keep people in line. If your HOA board isn't doing this, an association manager can issue penalties and keep the peace in your community.
Meetings
HOA meetings decide the future of an HOA and give a voice to all members. If your meetings aren't organized, you'll never accomplish anything in your community.
HOA managers can run effective meetings where everyone can voice their opinions. Even better, they can enact the community's wishes when important decisions are made.
Benefits of Association Management
The result of HOA management is a more engaged and happy community. By involving experts in the running of your HOA, less pressure is put on the HOA board and you'll see more productivity.
Association managers are impartial third parties in an HOA. They'll listen to the needs of the homeowners and work with the community's leaders to make the community a better place to live.
Finding the Best Property Management in NYC
If you're going to experience these benefits in your NYC community, you need the best community association managers. PMI Manhattan Group is New York's top HOA manager, offering comprehensive services that include everything discussed here and more.
To find out how we can improve your community, don't hesitate to contact us today.
