What are HOA Management Companies?
HOAs, or Home Owners Associations, are a common feature of many residential communities. They work to protect the well-being of the community by preventing unauthorized development and common nuisances. Most flagstaff hoa management companies will provide activities like landscaping and lawn maintenance, as well as enforcing their rules to help maintain the quality of life in your neighborhood.
However, there’s more to HOA management than providing services. In most cases these types of companies will also be involved in property tax assessments, planning, and zoning issues, building code compliance, and enforcement, amongst other matters relating to land use regulation. And it’s not just the big cities that have HOA management – many small towns, suburbs, and rural areas as well.
Why Should You Hire an HOA Management Company?
There are many reasons why HOA management companies can be a good option for you, whether you’re a property owner, an association representative, or a renter.
When you hire a good HOA management company, they will often go out to assess your community’s property and make sure it is properly managed. This typically includes a review of the deed restrictions, certified mailings to current residents, as well as other legal procedures. However, there is also a formal assessment of building value by a professional appraiser. This simple process of value assessment on all or part of your property can result in multiple tax savings on your real estate taxes, from significant reductions in realtor commissions to tax abatements and exemptions for long-time owners. In fact, this process is so effective that some communities actually raise the values of all properties within the HOA through the assessments.
Moreover, whether you’re a homeowner or simply interested in property management, HOA management companies can help to preserve your assets – and protect you from liability and lawsuits. After all, a home is typically one’s most valuable asset. Protecting that investment doesn’t just mean you’ll get to keep it for longer, it also helps to preserve your assets in the event of a lawsuit.
In addition, by working with an HOA management company, you gain access to a developer who will navigate through the hoops and red tape inherent in zoning and permitting processes. The developer will then use their knowledge of building codes and permits to put together plans for new homes and communities, as well as ways to renovate older ones. They then submit these plans to local municipalities for approval; the development process can be long and drawn out, but through this process, they ensure that residents are protected from potential lawsuits and fines.