At some point, every HOA will turn to the question, “should we work with a homeowners association management company?” It’s an important question that should take time and consideration based on the association.
It can be tempting to do it all yourselves in an attempt to save money on management frees each month, but you also have to account for the amount of time and work you’ll save — not to mention the expertise you’ll gain.
To give your board a better picture of the the positive of HOA management, here are three of the top reasons a management company can provide value to your HOA:
#1 HOA Managers are Professionals.
Those working at an HOA management company are professionals who are trained to handle many different types of challenges HOAs run across. They are dedicated to helping you succeed, and they have the experience to help you think long-term and make decisions based on what is best overall for your community.
Plus, they have the time to dedicate to your association. Most board members are volunteers who have other lives outside of the HOA and who aren’t receiving payment for their time. But for HOA managers, managing your HOA is their job. So they can spend that extra time helping to make decisions and bringing their full attention. They also understand best practices for HOA business and requirements.
#2 They Enforce the Rules
Since board members are also living in the HOA, it can become awkward to always enforce rules that you know are affecting those living around you. When you have a management company, it’s an unbiased third party that can help you navigate tricky conversations and situations you might not know how best to handle. Plus, they can make decisions that isn’t as “close to home” for them since the are seeing the big picture without too much of an emotional attachment.
#3 They are Organized
HOA managers bring good communication, organization, and a solid structure when running your association. For example, they often have full accounting teams to provide accounting services and help with payments. They’ll also have staff available to quickly answer emails and phone calls that come in, as well as help you set up or improve your association website. This makes each process more enjoyable for both the board members and those in the community.
You always want to consider all aspects of HOA management before making a decision about whether or not it’s right for your association. You might find a little extra management is just what your HOA needs to meet its goals.