When to Hire a Professional HOA Management Company
With HOA demands, Board members can easily be roped into a full-time job. On the flip side, HOAs must find the right balance of value and cost when they turn to an outside provider. So, how do you know when it is time to hire a professional management company? Consider these major benefits:
Minimizing Stress and Reducing Demands on Board Members.
If your Board members are maxed out with handling owner calls, complaints, unpaid assessments, website updates, communications, compliance and financials, it might be time turn over these responsibilities to a community management company. HOA management teams help alleviate the tedious day-to-day operations of an association.
Accessing Technology Efficiencies and Easier Processes.
If your Board members do not have time to stay on top of communications, reporting or task management, it might be time to find a management partner that can provide secure and innovative technology to significantly increase the efficiency of vital HOA needs. HOA Management companies invest heavily in tools, software, and security protocols to ensure ultimate homeowner experience. Some of the technology you should find with any reliable management company would be Board member portals, mobile apps, community websites, electronic voting, surveys, text, and email messaging.
Acquiring and Maintaining the Required Level of Industry Expertise.
The right management company will be well versed in industry issues and have the experience necessary to manage your community efficiently. A professional management company will know the ins and outs of collecting unpaid assessments, legal matters, maintenance issues and more. In addition, a reputable management company will also invest in company audits like the SSAE-18 that confirm internal controls are designed to mitigate risks to their clients.
These three benefits alone create an attractive scenario and help make the decision on whether or not to hire an HOA management company somewhat easier. However, HOA Board members need to also know that it will not be a hands-off relationship. Hiring a professional HOA Management company is meant to be a symbiotic relationship, but with the Board of Directors still at the helm. Though, your management partner will help streamline operations and improve productivity.
Homeowner Association Boards interested in partnering with a professional HOA management company should consider AAM. Feel free to contact us for a free quote, call us at 833.745.6446 or fill out a quick request HERE.