In 2012, there were an estimated 325,203 homeowners associations in the United States. At that time, around 25.9 million homeowners, or 63.4 million individuals, were members of these various associations. Of these millions, a small percentage were likely elected to serve on their local homeowners association boards. Unfortunately, most homeowners are not prepared or adequately trained to handle the various responsibilities of residential property management, from controlling shared neighborhood values to ensuring basic standards of care and appearance are met. For this reason, many neighborhoods are turning to HOA property management services to provide their chapter of the homeowners association with helpful and necessary guidance. Could this be helpful for your community?
Homeowners associations first emerged in the United States in the mid-19th century, but started becoming increasingly common after 1964. Today, homeowners associations offer a number of advantages to affiliated homeowners: as previously mentioned, HOA chapters provide residents with shared neighborhood values and also ensure that the community is meeting basic standards of appearance and neighborly consideration. However, HOA chapters also collect money to pay for common expenses in the community, which are typically paid per unit or based on square footage. Overall, this helps decrease ownership responsibility for members. However, when a HOA board finds itself unable to properly manage the neighborhood, HOA management services are often the best solution.
The homeowners association industry in the United States employs an estimated 901, 726 people. Of these, homeowners association property management companies are able to ensure that the services which are typically provided by the board continue without issue. If your community could benefit from HOA property management services, contact a HOA management company today.