“Self management” (the process of maintaining an HOA entirely by an HOA board of trustees) can be a costly mistake for homeowner associations. Volunteers often lack the experience to effectively take on the duties of HOA management: collecting dues, paying bills, handling maintenance, record keeping, and rules enforcement.
A much more beneficial and sustainable situation is one in which service to the community does not diminish the volunteer’s ability to enjoy living in their community. The best way to take pressure off your volunteer Board is to hire a professional to manage the day-to-day affairs of the association. Start by considering these four reasons why you might want to hire a manager:
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Reason #1 – Lack of Time
Managing a homeowners’ association requires a significant investment of time and labor. On any given day, tasks might include responding to homeowner calls, arranging maintenance appointments for both emergency and everyday repairs, writing enforcement letters, dealing with the grounds contractor, posting assessment payments, preparing financial statements, and consulting with the association attorney on collections and other legal matters. If this sounds like a full-time job, you might want to let your homeowners be homeowners and hire an experienced agent to perform these duties.
Reason #2 – Lack of Knowledge
In addition to technical specifications and various questions of law, finance, and governance, you need to have more than a passing familiarity with local, state, and federal laws that apply to the everyday workings of your community. Yours would not be the first board to feel overwhelmed by the sheer volume of knowledge it must possess. Good professional managers bring a wealth of knowledge and experience to the table, making them a valuable resource for the board.
Reason #3 – Continuity within the HOA
Board members might come and go, but a manager can offer a common thread that links one administration to the next. Why does this matter? Having a consistent management team ensures continuity regarding record-keeping, budgeting, dealings with contractors, suppliers, and professional service providers, and even the relationships with your residents.
Reason #4 – Lost in the Minutia
The board should be a decision-making body, but too often, the day-to-day distractions of educating residents and attempting to meet their expectations can pull managing board members away from the big picture. Professional management can provide an administrative buffer, giving your residents the attention they deserve and freeing the board to focus on decisions that affect the community’s long-term viability.
Seek the Help of a Property Management Professional
If you’re struggling to manage your HOA or condo association, it’s worth contacting a professional management company like Innovative Management for help. With years of experience managing COA and HOA properties, Innovative Management can provide valuable guidance to association board members, ensuring that your properties are managed efficiently and effectively. We offer various services, including financial management, maintenance, and homeowner communication, making managing your association properties easier. By working with Innovative Management, you can have peace of mind knowing that your community is in good hands and managed by experienced professionals.
Contact Innovative Management to start a conversation.