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Management Companies
4 Tips to Get Top Service from Your HOA Management Company
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"The better the relationship between a homeowners association and its management company, the happier everybody will be," says Andrew Ginsburg, regional vice president at The Lynd Co. in Miami, FL, who's worked with more than 20 homeowners associations.
Easier said than done, you might say. Here are tips for making those words ring true at your association.
1. Know what you're paying for.
Making the Outside-Managed vs. Self-Managed Decision
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Many homeowners associations face the question of whether to be professionally managed in the first place. Often, when associations are self-managed, board members find that they spend so much time on association business that it seems to be take over their lives. Other associations that have hired management companies question whether the company provides enough value to justify the cost. Whatever your association‟s status, it may be time to evaluate the pros and cons of hiring a management company.
The pros of professional management are easy to list.
License to Manage
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The rapid growth in community associations in the past decade has prompted equally dramatic increases in the number of people entering the management field. Some are more qualified than others.
Some take classes and pass certification exams to help them guide the communities they manage. But not every person applying for a manager’s position does that.
In fact, most states have no basic requirement for individuals who decide to become community managers. A recent spate of high-profile embezzlement cases has attracted the attention of state legislators, who are struggling to ensure that community managers have at least a basic knowledge of their responsibilities.
Homeowners Association Management
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What is HOA Management?
A home owners association is a non-profit corporation registered with the State and managed by a duly elected Board of Directors. Its purpose is to maintain all common areas and to govern the community in accordance with the provision of the legal documents: CC&R’s, Bylaws, and Articles of Incorporation. The governing legal documents for the association may be viewed online within the Resource Center page of each community website. The corporation is financially supported by all members of the homeowners association. Membership is both automatic and mandatory.
5 Rules for Self Managed Associations
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Not all HOAs can afford to hire association managers. “These are the vast majority of associations today—those that are self-managed,” says Bill Worrall, vice president of The Continental Group, which is based in Hollywood, Fla., and manages 1,300 condominium and homeowner associations totaling 310,000 residential units.
There‟s nothing wrong with being self-managed if you know what you‟re doing. “I think if a community can‟t afford management, self-management is relevant,” says James Donnelly, president and CEO of Castle Group, a property management company in Plantation, Fla., that manages 60,000 association units. “Some have a strong, long-term board that wants to do the management itself. I‟m not offended by that.”
If you‟re among the group of self-managed associations, here we offer rules to live by so you can be as well managed as those run by career professionals.
