Five benefits to having a professional management company working for your community
Living in an HOA/COA community comes with many advantages, but volunteers serving on boards often find determining, managing, and enforcing their responsibilities to be challenging. Working with a professional HOA/COA management company can provide significant benefits and lessen the load of volunteer boards.
Once hired a partner, a management company works with the elected HOA board to carry out the board’s decisions in day-to-day operations.
The five most significant contributions of a professional management company:
- Offers depth of experience
Professional management companies are just that: professional. A hired firm brings deep experience and knows how to handle every aspect of the job, from maintenance services to day-to-day operations. What’s more, such a firm can bring resources, strategies, and tools that the local self-managed board might not have. Most significantly, a professional management partner ensures proper financial reporting, accuracy, and fiduciary responsibility.
- Ensures consistent, unbiased support
A professional management firm is valuable as a consistent and impartial resource. It can handle communication with homeowners, local officials, and vendors and ensure such communication is timely, accurate, and professional. It will be more available to handle requests and inquiries within a consistent time frame. Their outside perspective can also go a long way in managing expectations, handling complaints, and smoothing ruffled feathers.
- Enhances property value
Professional managers can help keep property values steady by keeping required tasks and maintenance up to date. They can also help ensure visual harmony and aesthetic appeal by managing the property and grounds. A firm’s established relationships with local vendors can often bring a higher level of service at a lower cost.
- Provides continuity and succession planning
Many HOA/COAs benefit from extremely dedicated volunteers. However, volunteer boards can turn over, while a management company remains the same. The right management company can assist boards in planning for leadership transitions and step in to ensure stability when inevitable vacancies occur. Plus, professional service providers can train and coach new (and existing) volunteers to ensure consistency and continuity.
- Reduces and mitigates risk
The ins and outs of property management can be complex. A professional manager can ensure rules and regulations are followed within the community, and that they comply with local laws. Often, management companies can assist the board with legal advice and/or step in to serve as a buffer among neighbors/ residents in the event of a dispute.If these benefits sound appealing to your community, look no further than Towne Properties for your management needs. Towne relies on tried-and-true policies and standards to provide stability. We have decades of experience managing operations and building positive relations with communities.
When you partner with Towne, you can expect:
· Vetting, hiring, and management of staff and vendors with security and quality of service in mind.
· A fully staffed HR team that has experience screening qualified candidates, including conducting background checks, along with the day- to-day work of managing benefits and recordkeeping.
· A skilled accounting team that will maintain meticulous records and reporting; together with our association managers, they provide coaching and guidance to board members so they understand the data to achieve or maintain financial stability.
· Onsite staff trained to deliver concierge-level service.
· 24-hour emergency maintenance service and backup to keep our communities safe, secure, and up and running.
Our services are not cut-and-paste. We tailor what we do to your needs. Ready to learn more? Contact us for a consultation.