News & Events
HOA Community Management: Is it Right for My Neighborhood?January 24, 2020
Without a comprehensive strategy in place it is hard to systematically approach the desired outcome of a safe and beautiful community that is appreciating at the fastest pace possible. Homes are so many things, one of them being an investment, and at Cornerstone Community Management we strive to maximize the rate of increase for every property we manage.
There are several things to consider when deciding on whether an HOA Property Management Company makes sense for your community, and if so, what type of HOA Property Management Company would be ideal. The size of your community, the amenities present or planned for, and the time and ability of the properties Board of Directors are all important to consider.
Communities that would benefit the most are those that are large, have many amenities and landscaping maintenance requirements and have trouble finding qualified volunteers to serve on the Board. The latter item mentioned is extremely important for effective community management realization. For a Board to be effective it needs members who have experience negotiating with vendors, have a successful track record with investments and long-term finance planning, have non-profit management experience, real estate management experience and are familiar with the creation of budgets, handling financial statements, tax returns, and insurance issues.
Effective HOA Property Management demands the skills above paired with a clear understanding of federal, state, and local laws that regulate HOA’s and all real estate in general. These laws are always changing and can become a real challenge for Board members who often have other responsibilities besides those that come with property management.
If you are part of a quality minded community and would like to explore the professional services offered by Cornerstone Community Management please contact us here, and we will begin exploring whether or not our services make sense for your community!