The Community Associations Institute estimates that 2.86 million people live in one of the 14,900 community associations in North Carolina. Most residents (67%) rate their association living experience as "positive."
If your association's residents in Charlotte, NC, feel otherwise, the board of directors (BOD) may be beyond their limits. The board could be experiencing difficulty enforcing the covenants and making the community cohesive.
In that case, it may be time to partner with an association management company.
Read on, as PMI CLT has shared insights into why professional association management services are worth it for your Charlotte community.
Better Financial Management
Working with BOD members to help ease some of their financial management workload is one of the many things reputable association managers do. Once you have Charlotte association experts, expect them to help the board:
- Maintain and prepare financial records
- Review, process, and collect HOA dues and fees
- Prepare and file tax returns
- Manage the association's budget
- Conduct accurate financial reporting
- Make wise financial plans and decisions
So, with the help of professional management solutions, your association can better manage its finances.
Achieve More Efficient Association Operations
Association managers also specialize in administrative tasks. They can assist the board in:
- Enforcing the covenant
- Organizing association meetings
- Encouraging residents to attend the meetings
- Monitoring association-related state and local laws
- Handling membership inquiries
- Helping address complaints and disputes among residents
By delegating all the above tasks to professional managers, your association's board can free up much of its time. The board can then use this time to focus on other crucial tasks, such as developing association growth strategies.
Improve Community and Building Maintenance
Homes with associations are usually worth more than those without. According to the NAR, they can be worth 5% to 6% more.
To achieve the same for homes in your association, your board must enforce efficient community and building management protocols. Luckily, reputable association management firms in Charlotte, NC, can help. They offer the following maintenance-related services as part of their full-service association management solutions:
- Regular inspections of common and shared areas
- Enforcement of architectural standards
- Online portals for convenient filing of maintenance requests
- Vetting and screening of building contractors and vendors
- 24-hour availability of on-call maintenance experts
So, once your association has dedicated property managers, its buildings, facilities, and homes will be better maintained and well-kept.
Choose PMI CLT as Your Association Management Company
Highly experienced and reputable association management experts in Charlotte, NC, can help make your community thrive. With their professional financial, administrative, and building management services, they can make your association so lovely it can be a role model for other communities.
If your association is ready to reap all those benefits, PMI CLT is happy to help. We're a full-service association management company powered and supported by PMI, the largest property management franchisor in the U.S., which manages over $5 billion in real estate assets. Our owner, Buruk Adhanom, also brings half a decade of experience expertly managing properties in Charlotte, NC, and the surrounding areas.
Talk to us today to request a bid and discover how we can help your community!
