According to Chicago Agent Magazine, nearly 30% of Illinois homes are part of an HOA. Our state HOA rate is over 8% higher than the national average. Naturally, our HOA homeowners have high expectations for what their HOAs can do.
The only problem? A lot of HOA boards fall short, leaving members dissatisfied and frustrated with high HOA fees. In this article, we'll talk about how association managers can:
- Get HOA accounting on track
- Enhance community engagement
- Oversee community maintenance projects
- Improve HOA compliance
Read on to find out if association management services are right for your community.
Taking Charge of HOA Accounting
Chicago doesn't have its own set of laws governing HOAs. Instead, Chicago HOA boards should refer to the Illinois Common Interest Community Association Act.
Association managers can look at everything from monthly HOA fees to taxes and maintenance costs to improve HOA accounting. The goal is to ensure that you're not collecting more than 115% of your budget, which would allow members to vote to change the budget for the year.
Bridging the Gap Between HOA Boards and Community Members
There are many ways to improve the relationship between an HOA board and their community members. Examples include:
- Holding frequent and accessible meetings
- Hosting community events
- Taking community feedback seriously
Not only can community management in Chicago act as a restorative middle ground, but it can also introduce useful HOA technology to your community. A reliable HOA portal can streamline everything from fee collections to communication.
Overseeing Vendors and Community Maintenance
Homeowners living in an HOA community agree to pay fees in exchange for better neighborhood maintenance. By offering great amenities and beautiful landscaping, an HOA can boost property value for all residents.
Expert association managers can oversee vendors and community maintenance to achieve two goals: lower upfront costs and better results. From scheduling neighborhood pool cleanings to hiring reliable landscapers, your association manager can do it all.
Boosting HOA Neighborhood Compliance
One of the problems we see most often is defiance of HOA bylaws. This issue arises when:
- Members are unhappy with the current board or bylaws
- Board members are inconsistent in bylaw enforcement
- Individual or new bylaws aren't clear
Your association manager can improve neighborhood compliance by increasing the rate of neighborhood inspections. They will also help the board to establish and apply repercussions for breaking bylaws. Having a neutral third party intervene can improve consistency and reduce neighborhood tension.
Talk to Our Chicago Association Managers to Find Out More
With such a high number of HOAs in Chicago and greater Illinois, your HOA has high expectations to meet. When community relations start to degrade or accounting starts to slip, your HOA can turn into a source of frustration, rather than unity. Association managers can get things back on track.
PMI Chicago Metroplex is one of the most unique property management companies in the city. Rather than splitting our attention between different types of management services, our entire team focuses on HOA management. Contact us to get the professional services your HOA needs to thrive.
