Exploring Association Management: Best Practices and Strategies for Success

Exploring Association Management: Best Practices and Strategies for Success

Having an association for your condominium community helps you accomplish a lot. Owners have a voice, know where their money is going, and will have more peace of mind about where they live.

Nearly 15% of Missouri residents live in HOA-controlled properties. It's one thing to have a homeowner's association, and another thing entirely to have one that is well-run. For the latter, you need the assistance of HOA management services that can take your board to the next level.

Here are some ways that you can win big with your association management strategies.

Keep Thorough Records

Recordkeeping is an essential piece of the puzzle when you want your HOA to be managed correctly. This helps you run productive meetings, keeps HOA members in the loop, and helps you do more straightforward business.

Managers will keep archives of your documents and make sure every important detail is recorded. They'll help you come up with filing systems and a portal where people can view official records.

Handle Your Legal Needs

Next, make sure that you're correctly addressing all of your HOA's legal concerns. Working with a team of management professionals will give you access to lawyers that can answer your questions.

Get a handle on HOA law so that you're getting the most from your property and HOA board. Legal pros will help you stay up-to-date with local codes and ordinances, explore legal options, and make sure that your steps are guided to minimize liabilities and litigation.

Use an Auditing Company

A good HOA will audit itself regularly to make sure everything is being done to the highest standards. The best way to do this is through hiring a third-party pro that can conduct the audit.

The company can audit everything from how you address maintenance needs to the composition and effectiveness of your HOA board as a whole. You can also take surveys from HOA members on how well they're being served, and in what areas can be improved.

Address Conflicts Head-On

When you are managing an HOA, there is always a possibility for conflicts to arise. Rather than sweeping them under the rug, make sure that you always handle them head-on. This could involve everything from issuing a penalty to a member or hearing an appeal.

The better you handle these conflicts, the easier they will be resolved. Letting these issues linger could leave you open to unwanted things like litigation or bad publicity. Give your board the resources that they need to run conflicts through the proper channels to find workable solutions.

Association Management Can Help You Win

When you take advantage of association management, you can deploy strategies that'll make a difference. Hiring an association management group will help you execute these strategies to precision, for the betterment of your HOA board and community as a whole.

Property Management Inc. (PMI) STL Metro can assist you with all of your HOA management needs. If you're ready to get started, shoot us a message or call 636.735.3450 to schedule a consultation.