7 Benefits of Using a Property Management Company
There is much debate as to whether homeowner associations need the services that a property management company has to offer. Many might argue that homeowners associations can carry out the duties of the property management company. Usually motivated by cost-cutting reasons, some homeowners associations try and more often than not, do not succeed.
The reason is simple; the day to day management of an association including maintenance management, community relations, association dues, collections, major construction projects, bylaws and rules and regulations are a daunting tasks that can be difficult to manage without the expertise and experience of a management company. It can causes more problems and disagreements between neighbors about the management of day-to- day tasks and can create unwanted tension throughout the association. There are too many day-to- day jobs that take time and energy and cannot be left to homeowners who might not always be available to carry out the tasks or fully understand the laws associated with each association. HOA's are not ideally suited to manage the liability of risk, on their own.
Keep reading to learn the 7 benefits of using a property management company and utilizing their expertise in a homeowner’s association!
The day-to-day management of spontaneous maintenance requests can be a difficult juggling act. It always seems that several requests arrive in one day causing quite the logistical headache for a homeowners association. This is where a property management company can really step in to help assist with maintenance management. Property managers and management teams are equipped to take on these headaches and deal with a variety of multiple maintenance demands in any given hour, of any given day. Utilizing a property management company ensure that maintenance requests are tended to in a timely manner and homeowners are well taken care of.
Fees and Dues Collection
Timely and effective handling of fee collection is an often difficult and very time consuming task. An expert property manager looks after monthly collections and will ensure those that pay late or try to avoid payment are held responsible. This is an invaluable service and one that needs delicate handling and expert people skills. When a homeowner’s association can avoid having to deal with financial situations, benefits are plenty and inevitable. Overall, property management companies can provide reliable collection services, without the possible tension or awkwardness from doing it internally!
Contacts for Outsourcing and Laborers
When a homeowner’s association needs to call in a contractor of sorts, you run the risk of not having the right contacts to reach out to. A property manager can be in constant contact with such contractors on a daily basis and ensure they get you a qualified person on the job, for the right price. You can rest assured that the benefits of using a property management company include having only qualified, reputable, well-established companies take care of outsourced maintenance projects.
This includes landscaping, upkeep of foyers, parking lots, checking safety equipment (fire detectors) and more. These general upkeep tasks tend to slip away before getting done due to their tediousness and recurring nature. Luckily, having these kind of duties taken care of is a benefit of using a property management company. General repairs and maintenance is continuously monitored and cleaning schedules are set up and checked, so homeowners associations can rest assured. Having a property management company in place means the general tidiness of common areas are maintained and regularly checked for optimal status.
Utilizing a property management company can help a homeowners association resolve all kinds of potentially disruptive situations. When living in homeowners association, many owners, rules and regulations need to be adhered to on a regular basis. When there are disagreements or rules are broken, a property management company can intervene to resolve the situation peacefully, without situations getting out of hand and address the immediate needs of the association.
Understanding and enforcing Rules & Regulations
Rules and regulations detail out the guidelines of your homeowner association and what you can and cannot due. This can include parking, architectural controls, pets, moving, and common area usage just to name a few. Many homeowner associations often struggle to enforce the rules and regulations and need additional support. A property management company helps manage and enforce the rules and regulations of the association, as well as provide you with additional guidelines on how to properly follow them.
Dealing with ByLaws and CC&R’s
These are the mainframe of how to manage your associations. In essence, the do’s and dont’s. The CC&Rs and bylaws provide the rights and obligations of membership as they relate to other members and the association as a whole. Including restrictions of property, enforcement powers, lender protector provisions, assessments and obligations. A property management company is well equipped to understanding the legal rights and requirements for the association. The benefits of using a property management company support homeowners associations in ways that are immeasurable. When evaluating a property management company, consider the benefits and evaluate your needs to determine if an hoa property management company is right for you.
The best way to get involved in your community is by learning about it and the options you have.
If you’re curious about how Manor Inc. can assist your homeowners association, give us a call today!