5 Gaps In Your HOA Board That A Management Company Can Fill
Does your HOA board lack something it needs for successful management of the community and properties? For the board, good management reduces conflict with owners, avoids trouble with the local city or county, and means less liability. But, not every board is able to handle everything it needs to do. The good news is that an HOA management company can help. Here's how they can fill in your board's specific gaps.
1. Lack of Experience
HOA boards sometimes include people with experience in the position, but they're more likely to be comprised of many who have no experience running an organization. This may include homeowners, stakeholders, and willing volunteers. However, a lack of experience makes every decision harder, and every task takes longer. It can also easily lead to mistakes, bad decisions, and omissions.
An HOA management service is staffed with professionals who do these things for a living. They understand how HOAs are run and what challenges they face. They also know how to work with the local government, what mandatory documents must be created and kept, and how to keep owner conflicts to a minimum.
2. Lack of Time
Managing an entire community can take a lot of time. The board must meet together on a regular basis, educate themselves about many challenges, vet vendors and suppliers, handle contracts, manage the books, oversee and follow up on projects, and deal with homeowner problems. Unless your board is made up of full-time members who are duly compensated, they're often working all these tasks into their regular lives.
An easy way to minimize the time and effort your board members have to devote is to outsource what you can. Management services don't take over the decision-making, but they serve as a support system to handle what comes before and after those decisions.
3. Lack of Funds
Are you working on a tight budget? Most homeowners associations can't charge unlimited fees, so they must work within financial limitations. You may not be able to pay board members as much as you'd like or outsource everything that needs to be done.
Instead, find a happy medium by hiring out what makes economic sense. Rather than pay an expensive board member to research vendors or manage owner payments, for instance, you could hire a management service to do the leg work. Management companies provide as few or as many services as your budget allows for, giving you the flexibility to tailor your services to what you can afford.
Where to Learn More
Want to know more about how HOA management companies can help you? Start by meeting with a service in your local area today.
Share
