Per the latest report from the Community Associations Institute, as of 2024, Florida has become home to 49,800 community associations, including homeowners associations (HOAs). Over 9.5 million folks live in one of the 3.88+ million homes within these planned communities. Many are happy, with 67% saying their community living experience is "positive."
Community association managers (CAMs) play a massive role in creating these positive experiences. So, they're integral to effective HOA management.
But what exactly is HOA management in the first place? And how do professional community management services fit into the picture?
Our team at MyTown Communities has shared HOA community and property management insights answering those questions in this guide, so please read on.
What Is HOA Management?
HOA management is a set of practices that a community's board of directors (BOD) must meet. Its goal is to satisfy HOA roles and responsibilities, such as:
Administrative Duties
In HOA management, administrative tasks support the community's day-to-day operations. They include:
- Planning and scheduling meetings
- Maintaining official records
- Administering the HOA's rules and regulations
Financial Oversight
HOA operations management also includes keeping the community's finances intact. It includes chores like:
- Managing the budget
- Collecting HOA fees and fines
- Ensuring timely payments for community services
- Accurate accounting and bookkeeping
- Financial reporting
Community Maintenance
According to the National Association of Realtors (NAR), homes with HOAs can be worth 5% to 6% higher than comparable properties without HOAs. The higher value tied to HOA homes is often due to their community's many desirable features and amenities, such as:
- Clubhouses
- Fitness centers
- On-site parks
- Elevators
- Swimming pools
- Security personnel
Moreover, HOAs have stringent architectural standards and maintenance regulations. Implementing these management rules helps boost the community's overall perceived worth and the value of HOA properties.
What Are Community Association Managers?
CAMs are professionals who oversee the day-to-day operations of HOAs. They help HOAs run efficiently by:
- Ensuring everyone adheres to its established rules and guidelines
- Serving as the liaison between the HOA board and residents
- Handling many of the duties and tasks of HOA board members
The Benefits of HOA Management Done by the Pros
Using community management services brings many perks and pros, including:
- Enhanced Property Values: Consistent management keeps communities aesthetically pleasing and enhances property values
- Conflict Resolution: CAMs provide impartial mediation in disputes, fostering a sense of unity among residents
- Time and Resource Efficiency: Homeowners save time and avoid the complexities of self-management, allowing them to focus on enjoying their homes
By tapping into the expertise of CAMs, HOA board members and residents can ensure a well-maintained, compliant, and enjoyable living environment.
CAMs: Your Valuable HOA Community Resource
Community association managers play a fundamental role in shaping vibrant, well-managed neighborhoods. Their expertise in HOA management ensures seamless operations, allowing residents to enjoy their homes to the fullest. So, if your HOA doesn't have a professional manager, consider partnering with one today.
MyTown Communities is your premier choice in association management throughout Lee County, FL. We've provided high-quality, full-service management solutions to residential and commercial communities from Naples to Fort Myers for over 15 years. We look forward to helping your HOA thrive and become a more exceptional community.
Reach out to us today for a consultation!