Association Property Management: Ensuring the Success of Community Assets

Association Property Management: Ensuring the Success of Community Assets

Community association management is a booming market. The 350,000+ US community associations spend billions of dollars on their management costs every year.

Most of these funds go into the maintenance and repair of communal assets, such as clubhouses, swimming pools, driveways, and parks.

Here, we'll look at the common threads that underpin all association property management, and how these can help you build a more prosperous, harmonious community.

Set Effective Rules on the Use of Community Assets

Communal facilities are there to be utilized by all residents, but without proper rules on how they can be used, things can go south quickly.

Take swimming pools, for example. Setting hours of operation isn't about limiting the residents' right to access the pools whenever they'd like. It allows for reasonable use of the property while minimizing the rate of wear and tear.

Plus, swimming pools create a noisy environment, so banning their use beyond certain hours is in the best interest of the residents, especially those who live nearby.

Rules on the use of community assets are written into the HOA's covenants, conditions, and restrictions, but they can be changed from time to time to meet the community's evolving needs.

Staying on Top of Preventative Asset Maintenance

Communal facilities need routine maintenance to keep them in good working order. It also helps keep them safe, ensuring they aren't posing any risk of injury to users.

For the best outcome, it's prudent to be keen on preventative maintenance, instead of working with an established maintenance schedule. Don't wait until something completely wears out to change it. Preventative maintenance helps prevent small issues from ballooning into major problems that are costly to fix and cause unnecessary disruptions.

Imagine the inconvenience you would cause residents if a malfunctioning heat pump forced you to close the pool for repairs. With preventative maintenance, you'd have caught any issues with the pump and fixed them sooner.

Work With Competence Maintenance Professionals

HOAs typically outsource maintenance and repair work to third-party service repairs. This is an efficient, cost-effective approach, but the quality of services you'll get entirely depends on the competence of the professionals.

An HOA board must do proper due diligence when hiring contractors to work on the community's assets. Look at how long they've been in business, and whether their employees are well-trained and certified by relevant organizations.

Cutting corners during the recruitment of vendors is a sure way to sabotage the success of community assets. If the board votes on vendor selection, implement measures to eliminate cases of board members getting kickbacks from suppliers, which can compromise the process.

Close supervision of these vendors is also essential to ensure they aren't sleeping on the job.

Don't Slack on Association Property Management

Effective association property management is a fundamental responsibility that rests on HOA boards. Community assets make community living more enjoyable, so they need proper care.

An ideal way to go about their management is to outsource the job to an experienced association management company. PMI Gulf Coast stands ready to serve HOAs in Naples, Florida.

Our company uses state-of-the-art technology to provide HOAs with the best services customized to their needs. Get in touch with us to get a taste of the PMI experience!