Phoenix is the ultimate real estate hotspot in Arizona. Living in an HOA-managed community here could be a whole new experience altogether. Homeowners’ associations are not easy to manage because there are as many financial and administrative tasks as found in a regular business. Many communities are now hiring Phoenix HOA management companies for their work, and in this post, we are looking at the key advantages of outsourcing.
Administrative tasks are often challenging for board members, who often have to make time for HOA work in their busy schedules. Assigning administration work to a professional property management company can reduce a huge share of their workload. An HOA management firm can do the following –
- Take care of site management, including security and surveillance
- Ensure that homeowners follow the HOA rules and regulations
- Implement a centralized system for clients
- Inform and update details on an app or website for residents
- Maintain common areas and other parts of the properties
- Ensure that the HOA facilities, such as the clubhouse and fitness centers, are in usable condition
Easy bookkeeping, financing, and budgeting
HOA management firms know the rules, regulations, and compliance requirements that are specific to HOAs. Once their team takes over, they will ensure financial statements and accounts are created and managed, respectively. They can also take responsibility for other financial tasks, including –
- Collection of dues and payments from residents
- Ensuring that bills and dues are tracked on time
- Paying bills on time
- Offering legal counsel when needed
- Help with audits and tax-related matters
Good relationships can help an HOA
Property management companies work with local vendors, contractors, and workers in Phoenix for different projects. These firms share good relationships, which can benefit an HOA. Because their contact list is long, most work would be done on time and without paying higher than the standard market rates.
Residents and board members can enjoy better solutions with an HOA management firm at work. Top agencies work within a budget, and estimates are usually offered in advance. There are no hidden costs, and for the board members, outsourcing allows them to focus on more important matters concerning the HOA. As far as professional HOA management is concerned, a top firm has its reputation at stake and wouldn’t compromise on the work. An HOA can even insist on having a team of staff members at the site, especially for larger communities with more properties.