Currently, there are an estimated 325,203 homeowners associations in the United States. As of 2012, these associations had an estimated 25.9 million homeowners as members, or an estimated 63.4 million individuals. Moreover, these numbers continue to increase, making homeowner’s associations an increasing force in American life. However, in order to meet the demands of their communities, many homeowners associations are turning to property management services to help manage and benefit their communities.
Homeowners associations, or HOA, first emerged in the United States in the mid-19th century, but really began increasing in popularity around 1964. Since then, associations have typically been formed in order to facilitate the marketing, managing, and selling of homes and lots in individual residential subdivisions. However, homeowners associations can also be used to ensure that a neighborhood has shared values, decreasing ownership responsibility and reducing neighborhood conflicts. Because of this role, some associations require homeowners to pay a share of common expenses, often based per unit or on each property’s square footage, which may be collected by a HOA collection agency.
However, due to the difficulty of managing a neighborhood, it is becoming increasingly common to turn the management of these communities over to residential property management companies who specialize in homeowners association community management. These HOA property management companies provide the same property management services as a typical homeowners association: they facilitate the marketing, management, and sales of property within a given community and also handle resident disputes and issues. In other words, HOA community management provides all the benefits of a homeowners association, but reduces difficulty by placing the responsibility in the hands of a trained and reputed third party. If your homeowners association could use some assistance managing your community, contact a real estate property management company to discuss their property management services today.