The Benefits of Hiring a Property Management Company

New communities often grapple with whether to hire a property management company or manage the community themselves. While the concept of self-management and the lower costs associated with it can be appealing, many new community board members severely underestimate the amount of work, stress, and expertise needed to efficiently run an HOA community.

Finances

A major stumbling block for self-managed communities is managing the finances. Gardeners’ bills, electric bills, water bills, maintenance bills, HVAC bills, and trash removal bills are just a few of the bills that need to be processed and paid on a regular basis. On top of this are preparing taxes and financial filings, creating and managing the budget, collecting HOA dues, and handling unexpected expenses. If a retired accountant lives in your community, they may volunteer for this job for a limited amount of time, but it will be very hard to find someone to take on this responsibility on a long-term basis. In contrast, by hiring a property management company, you will have access to professionals whose job is to manage your HOA’s finances, removing this burden from your board of directors.

Handling Day-to-Day Property Management

A toilet in the community center overflows. One of the community’s golf carts breaks down and needs a mechanic. Mrs. Johnson complains that her roof is leaking. Everyday there are new problems that need to be repaired, replaced, or re-engineered. A property management company will log these issues are they arise, dispatch the appropriate staff to fix them, and complete any follow-up work.

Addressing Violations and Other Awkward Situations

While most community members follow the rules, there are always a few who believe the rules don’t apply to them. Violations could include painting their home an unapproved color, not cleaning up after their pets, or even refusing to pay their HOA dues. It can be uncomfortable for board members to confront other community members about issues such as these. Instead, with a property management company, the manager can address these violations and play the role of the “bad guy”. Similarly, sometimes HOAs intervene in a dispute between neighbors. The property manager can do this as well to avoid your board members taking sides.

Managing Vendors

Many HOAs work with outside vendors, such as landscapers, janitors, contractors, cable and internet providers, attorneys, etc. If you need a new vendor, instead of spending weeks researching and checking references, your property management company is likely able to recommend one that they have worked with in the past. Not only will this save you the effort of finding a new one, they may even be able to negotiate a discount due to their high volume of business and longstanding relationships.

If you think your community could benefit from professional property management, call one of the leading property management companies in Broward and South Palm Beach Counties, CCM, for a free consultation to learn how we can help your community run more smoothly and efficiently.

Consolidated Community Management (CCM) is a full-service property management company specializing in condominium and homeowner association management in Broward and southern Palm Beach Counties.  We are committed to working together with community Boards of Directors to develop management plans tailored to the unique requirements of each community and their residents.

CCM provides a quality of service that is unique to our industry and consistently delivers a distinct competitive advantage.  Our concentrated, extensive local presence and knowledge of community associations results in lasting partnerships and superior service.  We have built our industry reputation on employing the best in the business and assigning only a limited number of properties to each Property Manager Team.

Our team at Consolidated Community Management provides expert property management services at competitive prices.  Contact us today by calling (954) 718-9903 or clicking on ccmfla.com.