A homeowner's association has a lot of potential. But what happens when there is no one to manage tasks efficiently? This is when an association manager can help you manage your community and expand its potential.
Association property management companies address the growing demand of homeowner association (HOA) communities. It is estimated that there are over 385,000 associations in the US, with more than 74 million residents.
As HOA communities grow, there are more needs and more competition. Association management can help support you in various ways. Here are some of the main responsibilities and skills of an association manager.
An association property manager works for an association property management company, which may also manage other types of property management. They oversee the daily operations of a HOA community and help with strategic planning to achieve long-term goals. Some of their primary responsibilities include:
A property manager will conduct regular inspections, including of shared spaces. They will check everything meets regulations and safety codes. They also address resident maintenance reports promptly before issues can escalate.
Implementing Community Policies
One of the perks of living in a HOA is the community. However, someone needs to enforce a community's policies to keep all residents happy. If there is property damage, noise complaints, or other issues, you will experience costly consequences.
These consequences include loss of reputation and costly repairs. An association manager will enforce policies and take necessary action to keep everyone safe.
An association manager will also oversee many financial tasks, so the community can thrive. These tasks include:
- Collection procedures
- Invoicing homeowners
- Research and manage vendors
- Enforce local financial laws
- Bill management
HOA laws can vary depending on your location. For example, in Illinois, HOA owners are under one of two acts. An association manager will be familiar with these laws and ensure no legal issues arise from non-compliance.
Key Association Manager Skills
There are some differences between property managers and association managers. Be sure to pick a specialized association management company. They will provide experts with the essential skills you need for your community.
Some of the skills you should look for in an association manager include:
- Association expertise
- Effective communication
- Financial management
- Local knowledge
- Technical skills
- Leadership skills
Your association manager will liaise with the board, residents, and vendors. They need local knowledge of the Chicago area to ensure you adhere to local rules and regulations. They need to provide seamless communication with residents and have specialist association knowledge.
Hire an Association Manager in Chicago
An association manager can provide many benefits to your HOA. Your HOA can grow and thrive with the right manager. Be sure to hire a reputable one with the right skills to manage responsibilities.
PMI Windy City offers association property management services in the Chicago area. We are dedicated to increasing the value of your community. We can oversee all important aspects of association management.
Are you ready for your community to thrive? Schedule a consultation with us to get started.