8 Reasons to Hire a Property Management Company
Volunteers are always busy people because they are willing to do so much. They are the backbone of your community. But, let’s face facts—a few people can’t do everything. If you serve on your HOA Board, you know it’s almost impossible to stay on top of changing laws and your many association duties. When Board members are so overwhelmed with tasks that they can’t focus on community improvements, it’s time to consider an HOA property management company to handle day-to-day responsibilities.
A professional community association manager is key to smooth and efficient HOA operations. It’s a way of extending your resources and implementing new technologies that are more efficient and effective. If any of the following points sound familiar, your community would benefit from professional management services.
- Many associations find that homeowners don’t have time or willingness to volunteer to manage all the homeowners association’s responsibilities. Engaging a community association management company for day-to-day duties allows Board members to focus on the big picture for the community.
- Industry laws and regulations constantly change. Inexperienced Board members can unknowingly put the association at risk if they aren’t aware of new laws. A professional management company is aware of changes and can advise how to meet new legal requirements.
- Homeowners often lack skills and/or knowledge to handle specific association tasks (financials, HOA insurance, long-term reserve planning, vendor contracts, etc.). Property managers have a broad range of skills that they have refined through experience and continuing education.
- Many management companies negotiate volume vendor discounts, which can result in out-of-pocket savings for your association.
- Most management companies offer a variety of services that range from paying bills to providing full-service. Thus, you can choose services for the help you need now. If more assistance is needed in the future, you can expand to a full range of services.
- Homeowners frequently have a perception of favoritism or unfair treatment when the Board enforces rules, which a third party eliminates. Management companies ensure that rules and policies are clearly defined, communicated and consistently enforced.
- Property management companies act at the direction of the HOA Board, so you maintain control without the need to manage daily activities.
- Continuity is critical to progress in an association. Board members and volunteers change over time, so insight into the past (what was done and why) can be lost. A professional association manager provides a common thread in these transitions.
An Accredited Association Management Company (AAMC) and certified managers can help you create a stronger community. A management company is cost effective and a resource when you need answers. It saves you time and money while keeping you informed of changing laws. Can your homeowner association afford to be without a management company?