Living in a small neighborhood has its perks – there’s a tighter sense of community, homeowners are more likely to know each other, and there are less grounds to maintain. However, board members are only non-paid volunteers, and their personal lives can often still be sacrificed in managing smaller homeowners’ associations.
A question many small communities may find themselves asking is “Does our HOA even need a management company?” Below are some things to consider when making that decision for your neighborhood!
Efficiency
By lightening the load for board members, management companies save HOA board members’ time. A management company is able to make a full-time commitment that many board members cannot. Additionally, management companies are a cost-effective option to help handle association matters and prevent potential financial and legal mishaps, saving you both time and money in the long run.
Expertise
Management companies offer years of solidified experience and expertise. With guidance and perspective, management companies provide consistency in management for HOA matters. The HOA board still makes all final decisions, but the management company can offer expert advice and carry out tasks on behalf of the board members regarding association business.
Operations
Another benefit of management companies is their help with handling day-to-day HOA operations and the overall organization of the association. In addition to making sure your association’s rules are followed, management companies provide managing services for HOA maintenance, insurance, finances, record-keeping, projects, meetings, billing, enforcement, community issues, customer service, and more.
Communication
Management companies also assist in facilitating communication, reaching out to vendors and other points of contact. Serving as a buffer or liaison between homeowners and the board, management companies make communication easier and more efficient.
Legality
Helping with legal compliance, management companies provide an added layer of legal protection. Management companies also ensure governing documents are enforced properly and compliant with laws, as their staff understand HOA laws and remain up to date with HOA legislation.
Your Specific Community!
Ultimately, you know what’s best for your individual community, whether that’s to be self-managed, fully managed, or pursue a hybrid approach. For smaller associations, opting for a balance between self-management and hiring a management company may be a good fit. Read our guide for some advantages and disadvantages of self-management. Overall, it depends on your specific community’s needs.
If you’re curious about what JellyBird has to offer, reach out to us today!
