5 Signs It’s Time to Hire a Property Management Company for Your Homeowners Association
As a volunteer elected to the Homeowners Association (HOA) board, being a member is often a difficult job. You’re buried under hundreds of responsibilities and neighbors turn to you whenever there’s a problem regardless of the time or day. If a neighbor hasn’t cut their lawn, or they’re not paying their dues, it’s your responsibility to talk to them. It can make relationships sour quickly in a close-knit neighborhood. And in this day and age, most people already have a mountain of responsibilities with full-time jobs, families, and more. This is where a property management company can come in and take a lot off your plate. If you’re still unsure, here are 5 signs that it’s time to hire a property management company.
1. The HOA doesn’t have the time or experience to serve on the board.
Managing a HOA can become quickly overwhelming, even for the most experienced board members. There’s always something that needs attention and time-consuming issues are bound to happen. Sometimes it feels like there’s not enough hours in the day and not enough experience to find the most cost-effective solution. In these situations, hiring a manager is extremely beneficial to not only the board, but also every resident in the community.
2. The HOA is stressed out.
Even if you have the time or experience to manage a community, dealing with frantic emergencies and enforcing rules is a lot to handle. If you’re finding that you’re getting stressed out, you should hire a property management company. It’ll give you peace of mind and the time to relax.
3. The HOA is responsible for managing complex systems, amenities, and/or properties.
The saying that more is always better isn’t true when it comes to managing HOAs. Your community could have numerous amenities like parks, pools, and gyms that fall under your responsibility. On top of that, you’re also responsible for making sure your entire community follows the rules and regulations to maintain optimal curb appeal. If you’re finding your plate overflowing, it is time to consider hiring a property management company.
4. The community is large – making routine billing, correspondence, rule enforcement, and complaint management very time-consuming.
The more owners you have, the more you have to manage – from bills, to complaints, to regulations and more – making it painstakingly long and tiring to be a board member. A property management company can come in and take over all these responsibilities, so you can focus on planning and developing the rules and guidelines for the community.
5. The HOA is looking to leverage a property management company’s relationships to get discounts on services and contractors.
You’re quickly realizing that getting multiple bids from vendors is challenging and the bids can often be expensive. You don’t know who will do a good job for the best price. There’s a lot to consider before you hire a vendor, leading to a lot of headaches. A property management company already has established relationships with reputable vendors. Often these relationships can lead to lower rates on everything from insurance to maintenance.
If you’re going through these signs and realizing it’s time to hire a property management company, don’t worry! We made the process easy with helpful tips, questions to ask, and a checklist is included in the The Ultimate Guide for Hiring a Property Management Company for Homeowners Associations (HOAs).
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Chris Westerlund and West Property Management were great. Being a realtor, I deal with a lot of property management companies. I reached out to Chris about obtaining HOA resale documents. He was instrumental in getting the documents delivered to me that same day when we needed them in a rush. In addition, he used his resources to find the contact information for the company we had been trying to find for a couple of weeks. I'd highly recommend anyone/business looking for property management services to reach out to Chris and West Property Management!