While some smaller communities can self-manage many of the larger developments, especially with amenities, find this much more challenging. Many of the newer developments consists of 100+ homes with amenities such as a neighborhood pool and clubhouse. These neighborhoods are much more complex to manage on a day-to-day basis. Therefore, it is so important for the Board members of these neighborhoods to be aware of the benefits of hiring a professional management company.
Experience - A professional management company should have years of experience dealing with similar issues that new Board members may find challenging. They are able to draw on past experiences with similar neighborhoods and solve problems in a much more efficient way.
Expertise – Most Board members are from varying industries bringing a lot to the table. A professional management company, on the other hand, can bring an immense amount of expertise on a wide range of topics related to your Association.
Networking – The management company deals with the same issues your Association will face but they do it on a much larger scale. Over the years they have developed deep relationships with various vendors and have usually weeded out the one who were unreliable. This is very important to the Association’s bottom line. They know who to call when the entrance needs a makeover. They know who to call when the irrigation needs adjusting. These relationships can save the Association from making costly mistakes.
Technology – The management company, in most cases, has spent years and a lot of money on technology to put the right systems in place. This technology allows them to process information in a way that really streamlines accounting, maintenance, covenant restrictions, and so much more.
Legal Knowledge – Most Board members don’t have the time learn and maintain the legal knowledge that is specific to your Association. With years of experience with covenant and restrictions issues, liens, and other disputes they, along with their legal team, can rectify issues in a timely manner.
Community Maintenance – A lot goes into putting together a long-term maintenance plan for an association. Normally, a good management company can replicate their systems from other neighborhoods and implement them into your Association. No one wants to live in a neighborhood where the plants are dying, the grass is not maintained properly, or the pool is not kept clean. Keeping up with these day-to-day tasks is sometimes a monumental chore for Board members.
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