HOW AN HOA CAN HELP YOUR NEIGHBORHOOD THRIVE
OCT 29, 2014
As anyone who lives in a neighborhood or community can likely attest, residential areas can often require a great deal of unexpected work to function properly. For example, it is important to ensure that common areas and the appearance of the street meet basic standards to keep individuals and families in the area happy and safe. However, it can be difficult to organize maintenance and other services to meet these requirements. In cases like these, communities may find it beneficial to turn to a residential property management company, otherwise known as a homeowner association property management firm or HOA property management firm, to help them implement planned changes to their neighborhood.
While HOA management solutions are seen as a relatively recent addition to life in a community, homeowners associations first emerged in the United States in the mid-19th century and became popular around 1964. The concept has since grown and spread, and today, there are an estimated 325,203 homeowners associations in the United States. As of 2012, an estimated 25.9 million homeowners were members of a homeowners association, which translates to an estimated 63.4 million individuals. Homeowner association property management services emerged as a way to help the homeowners in these associations create ideal communities. But while HOAs are often managed by members of the neighborhood, companies have emerged to help community boards effectively and efficiently carry out their goals. Currently, the industry employs an estimated 901,726 people in this capacity.
Homeowners associations provide residents with a variety of benefits, including shared values and decreased ownership responsibilities. To accomplish this, they often require homeowners to pay a share of common expenses, typically by unit or the square footage of the house. However, with a homeowner association property management company working for the community, property owners can be sure that the services the neighborhood are receiving are the best possible values available. If your neighborhood or homeowners association could use some management help, contact a residential property management company today.