Charlotte is a city that continues to grow rapidly. Because of this, some of you may have decided to invest in real estate in that area.
If you are looking for ways to increase your property value even more, HOA management services can help. These companies manage up to 70% of all HOAs in the United States.
This guide will break down some things that the best HOA management companies can do for your home value.
Working With Vendors
Something that an HOA property manager can do for you is find vendors to work with, in your neighborhood. You are going to need reliable people to do all types of work in this area.
This can be anything from landscaping to pool service, repairs, roofing contractors, plumbers, electricians, waste management, and more.
The point is that somebody needs to find people that can do each of these jobs and find people that will do it for a reasonable rate. If you give a dependable HOA manager this task, they can deliver for you.
Budgeting
Another thing that HOA management services can do for you is help you budget your expenses for your HOA. Here, you simply need to think of all of the things in your neighborhood that cost money. Typically, this is going to be amenities and maintenance.
Let's say that your HOA has a community pool. Ideally, you would want a lifeguard working while people use this pool. To do this, you need to budget for a lifeguard salary for certain months of the year.
Then, there is home maintenance. An HOA is typically responsible for routine maintenance on homes in the neighborhood. This includes the exterior of the home and anything attached to the interior.
Part of this includes budgeting for routine maintenance expenses. For homes, the guideline is to dedicate 1% of your home's value annually towards this.
So, if a home in your neighborhood is worth about $450,000, you would dedicate $4,500 per year for maintenance for each home.
Inspections
Finally, an HOA manager can conduct inspections for things around your neighborhood. This can be the person that lets your HOA know when you need to either upgrade something, fix something, or conduct routine maintenance.
An example could be a fence that is starting to fall apart at a playground. An HOA manager may take note of this and decide to dedicate some funds towards fixing this.
Find the Best HOA Management Companies
These are just some HOA benefits that the best HOA management companies can provide for you. Ideally, you want someone good at maintaining a budget and knowing what your organization needs.
You can have someone be proactive with this by performing routine inspections around your neighborhood. Also, an HOA manager can find reliable vendors for your neighborhood to work with at a reasonable price.
To do all of this, you have to seek a relationship with an HOA manager. Click here to find out more about this.
