Tag Archives: managed

5 Rules to Live By for Self-Managed Homeowners Associations

 

 

NotallHOAscanaffordto hire associationmanagers.“These arethe vast majorityof associationstodaythosethatareselfmanaged,”says BillWorrall,vicepresidentof TheContinentalGroup,whichis basedinHollywood, Fla.,andmanages1,300 condominiumandhomeownerassociationstotaling310,000residentialunits.

 

There‟snothing wrong with being selfmanaged ifyouknow what youre doing.

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Making the Outside-Managed vs. Self-Managed Decision

 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.

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5 Rules for Self Managed Associations

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.

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IL: What to watch for in a self-managed association

News items of national interest regarding Condominium and Homeowner associations, compiled by the Community Associations Network

Board members at every community association have myriad responsibilities, but board members at self-managed associations have more. They’ve got to figure out what needs to be done, do it and make sure it was done right.
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