Coming Home Magazine

They've been there. When your community partners with a professional management company, it'll be assigned a community association manager. Unlike the average board member, many managers are licensed professionals with rigorous training and years of experience under their belts. With knowledge about how to manage things like expenses, rising assessments, and legal complications, a manager can help a board properly handle collecting dues from negligent accounts, avoid costly lawyer fees, and more. Basically, while board members are well-meaning, managers are experts and well-versed in the ins and outs of community living. Managing HOAs is typically their full-time job, so it's rare for stuff to fall through the cracks. If any complications arise, chances are, they've been there before and will know exactly what to do. They know people. Board members often hurry to secure a contractor to resolve an issue. If an elevator breaks or a gate won't open, they usually want to fix the problem as fast as possible and don't have the time or patience to find a pool of acceptable candidates, vet their credentials, and bargain for a deal. This can put the entire community in a bad financial position and pose a safety hazard. Fortunately, management companies have connections with dependable contractors and vendors that back the board. The management team has vetted these contractors and vendors, ensuring they're not only insured and hold current certifications, but also provide value and have a strong work ethic. From lawyers and accountants to insurance agents and landscapers, you can rely on a management company to make connections, solicit bids, oversee relationships, and manage contracts. They make sure everyone follows the rules. HOAs have rules and regulations that all residents must adhere to. These rules are in place for a reason (increased property values and a protected investment, anyone?), but enforcing them can be a big point of contention. Because board members transition into and out of their roles, and some communities enforce rules better than others, consistency can be a challenge—and this sense of unfairness can seriously bring down morale. Management companies can help remedy this. They play by the book and confirm that the association's operations follow the requirements within the governing documents. You can count on them to suggest solutions to common situations and make sure rules and policies are fairly enforced and clearly defined—reducing gossip and fostering a positive vibe. They have math skills. Maintaining the association's financial health is a key board duty, but it can be daunting for those who aren't confident in their financial abilities and worrisome for those who pay fees. The good news: many management companies have knowledgeable accounting personnel on staff to handle most day-to-day financial responsibilities, develop a solid annual budget, keep records, and give recommendations. That means fewer chances for residents to receive surprise special assessments and unexpected fees. They make community living easier. Residents frequently choose to live in a managed community because they enjoy the harmony and aesthetics that come with it. However, believe it or not, it takes hard work to achieve these things. And as volunteers who get bogged down by other duties, board members don't always have the capacity to make this vision a reality. Professional management companies take a lot off board members' plates so they can focus on tasks that improve quality of life, like scheduling neighborhood functions and creating bonds with residents. Additionally, many companies offer unique resources and systems that inherently add value and make residents' lives a little easier, like technology platforms that provide the option to pay assessments or submit work orders online. Investing in a professional management company isn't just the right move, it's the best move. When support from a management company leads to a better-functioning board and a more pleasant community for residents, everybody wins. Homeowners' associations (HOAs) are non-profit corporations run by an elected board of directors. The board is tasked with everything from creating budgets to maintaining common areas, and while board members do their best to keep it all operating smoothly, they sometimes lack the expertise needed to effectively lead an organization like an HOA. And that's normal—serving on an HOA board is completely voluntary and no experience is required. Luckily, there's help out there. By partnering with a professional community management company, board members can get some support with tough decisions and important matters. These companies communicate with residents, solve problems, offer advice, promote harmony, and much more. Read on to learn how hiring one can greatly impact how boards function and residents live. 35

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