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Category Archives: Management Companies

How to Self-Manage an Association Successfully

Community Associations do not run well by accident.  Anyone who has ever served on an association’s board of directors understands this position can be both rewarding and thankless.  Each day brings new challenges while trying to juggle jobs, families and association duties.  The responsibility of running an association only grows larger when a decision is made to self-manage.

 

In most homeowner associations the question of whether or not to self-manage arises every so often. How often these debates take place usually depends on the level of satisfaction with the management currently in place, as well as the availability and willingness of volunteers to serve. Once the management issue is on the table, board members often look at the budget line item for management fees and take the position that “This can’t be that difficult, so why can’t we do it ourselves?“

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Selecting good HOA Management

A mix of real estate and practical business experience is beneficial among the staff of an HOA management company. There are a number of tasks in the hands of an HOA management company that would not be completed with maximum effectiveness and efficiency with a staff of professionals who only had experience in one realm or the other. When working with real estate and homeowner’s association obligations, expertise needs to go deeper than facilitation of property transactions or marketing. A truly complete HOA management company must be able to market, promote, maintain and manage all of the dealings of a homeowner’s association and its members. Homes in any subdivision under a homeowner’s association’s jurisdiction must be managed according to their type, price point and aesthetic intentions. Real estate professionals are beneficial among the staff of an HOA management company by helping to determine what measures would most effectively preserve the integrity and value of the structures in a community. Business professionals are valuable for determining how to manage the ledgers and balances involved in the upkeep.

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The Value of Good Association Management.

The purchase of a home represents the largest investment most people will make during their lifetime. Protecting and enhancing the property values of these investments is one of the primary purposes of a community association – and a key driver of Community Association Management’s service and programs.

Property values in a neighborhood can be greatly affected by the marketability of the individual homes and the community as a whole.   A well maintained community can develop a reputation for providing vital and efficient services for its residents who in turn enjoy and show pride in their neighborhood.  As a result, these communities often achieve greater appreciation in property values than others.  In most cases, these positive reputations can be attributed to good management.

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* These articles and related content on this website are provided without warranty of any kind and in no way consitute or provide legal advice. You are advised to contact an attorney specializing in Association Management for legal advice related to your specific issue and community. Some articles are provided by thrid parties and online services. Display of these articles does in no way endorse the products or services of Community Association Management by the author(s).