Your association may find it doesn’t have time to keep up with all the details of the daily management of the property. You may hesitate to hire community association management services, seeing it as an added expense. However, it can be beneficial and save money for your association in the long term.
Financial Management Assistance
If you have a small association, you may feel you can handle the daily and weekly tasks yourself or your team. With a small association, you must also be more aware of costs because there is little room for the unexpected. Community management services can help with financial only management to track expenses and ensure invoices get paid on time.
The management services would keep financials organized to be ready for review by the board. They would manage incoming and outgoing funds to protect the association and manage the accounts to reduce costs and maximize savings.
One area that is often a challenge for associations is keeping up with maintenance. Hiring a community management service to take care of all maintenance can help you save money and keep your residents happy. The service oversees the daily janitorial and maintenance tasks for common areas to ensure the property always looks its best.
The management service can also manage calls from residents for any issues they find is the association’s responsibility. They take care of major and minor projects such as cleaning gutters and roof repairs. The team inspects the property to determine future projects to make it easier to budget for those costs before they happen.
Management services are helpful in preventing major losses, such as those from fire or water damage. They can take care of upgrades and major projects, such as renovations or expansions. Your property will appeal to future residents if they know a maintenance team is onsite or a phone call away.
If you have a small association, you may not have the capacity to manage your property full-time. Hiring a community management service frees you and your staff to do the planning and other important tasks. At the same time, you can ensure the property is cared for with hands-on attention.
When you hire management services to take care of the property, they handle calls and other communication between the association and the residents. They take care of receiving payments, hiring vendors, paying invoices, and other tasks it takes to run an association.
Along with the day-to-day tasks, the management service is also responsible for site inspections, compliance enforcement of the association rules, and overseeing maintenance projects.
If you’re considering hiring a management service, you may hesitate if you don’t have the money to pay for management. Perhaps your association is too small for a manager to work full-time. In this situation, you may benefit from on-demand services.
On-demand management allows you to choose when the service is needed and what tasks they will take care of. You can customize it to your association’s needs and where your board requires assistance. It also enables you to plan your budget based on what you can afford and adjust as the association grows and the funds increase.
Get the Expertise You Need
Managing an association is a major task that requires specific skills and education. Your board members may not have all the skills necessary or the time to perform those duties. A management service stays updated on federal and state laws that may impact associations. They have knowledge of financial management, accounting, and budgeting, along with taxes and insurance.
A management service has experience in human resources, hiring staff, and overseeing workers. They know how to work with contractors and understand the responsibilities of keeping up the property. The managers know how to communicate with board members to keep them up to date on the important aspects of the association. They also communicate with the residents to keep them happy and meet their needs.
The management service has the important task of maintaining compliance with the association’s bylaws. They inform new residents of what is expected and ensure they understand the rules.
Perhaps the most important task of the community management service is to be the face of the association. Potential residents, as well as current residents, will look to them for answers to their questions and concerns.
Hiring the Right Community Association Management Team
If you have decided it’s time to hire a community association management company, you want to know that you’re getting the right fit. Figure out what your association needs and hire the company that can meet those needs.