The Advantages of Professional Management
Sometimes homeowners want to know why they should hire professionals to manage their association instead of being self managed. There’s a lot more to managing a community association effectively than you may realize. It’s much more than property management; it’s also about governance—enforcing rules, conducting elections and more. Your home and your ownership interest in the common elements represent a huge asset—possibly your largest asset. Doesn’t it make sense to have a knowledgeable, trained, professional community association manager watching out for your interests? Consider all they have to offer.
Professional managers must be aware of many laws and regulations—real estate, corporate and labor laws; federal laws and state statutes and government regulations.
Professional managers must have a working knowledge of finances, accounting, budget preparation, taxes and insurance.
Professional managers must have strong personnel management skills—hiring and supervising contractors and staff.
Professional managers must work and communicate effectively with residents, resolve disputes and facilitate communications.
Professional managers must have a keen understanding of property maintenance—landscaping, repairs and replacements, facilities upkeep and mechanical maintenance.
Professional managers coach and mentor the board members who govern the association. They help conduct meetings, supervise elections and ensure compliance with governing documents. Board members work extremely hard on their associations, but they are volunteers and often have full time jobs of their own. A property management company can dedicate the time and expertise needed to keep an association’s property values high.