The benefits of hiring an HOA Management Company can range from improved access to community management experts to the availability of HOA systems already in place to serve your community. Working with an HOA management company benefits not just the community development, but the HOA board, too.
When deciding between the costs and benefits of hiring a professional HOA management, consider the current capacity of your current board. Chances are, your elected board member could use a little help when it comes to the day to day responsibilities of running your association. Why not look for a trusted partner for your community?
Why Hire An HOA Management Company? 5 Reasons You Should
Most of the reasons why an association management company benefits the HOA board and community they work with are centered around the fact that companies like them specialize in this line of work. Extensive experience, wide access to community management resources, and a broad range of professional contacts are only some of the benefits of hiring an HOA management company.
Smaller communities may be able to get by with a self-run HOA board, but once the development grows into a mid-sized community, the workload can increase exponentially. Mid-sized to large communities will require the attention of a full-time HOA staff. And at that point, you need to start weighing the costs and benefits of hiring a professional HOA management company to ensure the same level of service.
Some types of communities can make extensive use of the benefits of hiring an HOA management company that specializes in the niche. High-rise condominium developments, for example, require specialized knowledge in dealing with high-density living areas and the maintenance of a high rise structure. Retirement communities, likewise, have an entirely different set of requirements compared to single-family developments.
Think of the special needs of your community in mind as you consider the benefits of hiring an HOA management company:
1. When You Need Third-Party Financial Administration
One of the biggest pressures that elected HOA board members have to deal with is the financial side of running an HOA., especially so for board members that need to explain a new round of fee hikes to neighbors and friends, or worse, collect overdue assessments from residents they personally know.
That’s where one of the biggest benefits of hiring an HOA management company comes in.
An HOA management company helps with these types of transactions, and both sides can rest assured that an outside and independent company will not have a conflict of interest. As long as the company is fairly enforcing the policy of the HOA board, even delinquent payers will likely understand that there is no personal interest involved when the company is only doing its job of collecting payments.
2. When You Want to Maintain a High Level of Community Appeal
Many communities pride themselves on the level of visual harmony and aesthetic appeal that their development has maintained for itself. What is hidden behind the flawless landscaping and beautiful architecture, however, is the tremendous work that goes into keeping the community well-maintained. Oftentimes, this work requires the expertise of vendors specialized for certain types of maintenance services.
One of the benefits of hiring an HOA management company is the broad range of vendor contacts they have. A competent HOA management company can connect your community with reliable vendors that offer quality maintenance services. Over the long term, having this high level of maintenance service can translate to lower repair and replacement costs, aside from making your community a highly desirable place to live in.
3. When You Need Legal Expertise
It would be great if most elected HOA boards can include a resident who is well-versed in the current laws applied to an HOA. Most board members are unlikely to have a sufficient background when it comes to legal issues that can potentially affect the association. One of the main benefits of hiring an HOA management company is access to a legal opinion that you can use as a guide for your board decisions.
A professional HOA community manager is likely familiar with laws and court decisions that can affect the development. Even if they are not immediately familiar with the legal issue at hand, a typical HOA management community will have access to legal resources and professional contacts that they can refer to.
4. When You Need to Put Up HOA Systems
Putting up the appropriate HOA systems for managing the day to day responsibilities in your association is a must if your board is to function efficiently. In most cases, most board members will not have the right background to implement these information systems. The investments involved in software, systems, services, and devices, can easily run into thousands of dollars and can take years if you’re implementing a system from scratch.
Established systems and technology vendors are just a few of the benefits of hiring an HOA management company that can save you a ton of costs. Using a prebuilt HOA system will also get your association up and running in less time, too.
5. When You Need to Expand Your Connections
Running an association is a group effort that involves everyone in the community as well as those outside it. Certain things are best left to the experts, and an HOA has no shortage of those. Landscaping, maintenance, law enforcement, condominium building management — all those require the extensive experience of vendors and agencies.
An HOA management company can give you valuable connections to all those and more. Perhaps the biggest benefit of hiring an HOA management company is the wealth of expertise and resources they have at hand, and a professional community manager can put all those to work for your neighborhood.
Work with an HOA Management Company You Can Trust
Having a successful community is always a work in progress. The HOA board should make sure they hire the right people to help them manage the community effectively. There are many benefits of hiring an HOA management company, given that the HOA board chooses the right one. If you want to know more about finding the right fit for your community’s needs, don’t hesitate to talk to us.
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