Why Every Community Needs a Management Company
Managing a successful homeowners’ association is no easy task. There are many responsibilities that comes along with being an association member. From dealing with finances to finding vendors, it is safe to say handling a self-managed community can be quite stressful and time consuming.
The hiring an HOA management company can help relieve much of the stress associated with managing a community. In this post, we will discuss the major the benefits of using a management company and why they should be utilized.
- Increased Resident Support
As an HOA member, duties include answering residents’ questions and providing resident with support. There are bound to be times when board members won’t have all the answers. However, hiring a management company alleviates that issue. Not only do they have more expertise on all things regarding association management, but their hiring also allows for board members to gain more time back for themselves.
- Vendor Oversight
A significant benefit of HOA management is their professional expertise in vendor management. Without a management company, it is far easier for the board to become overwhelmed when it comes to managing vendors. Management companies will bring years of experience of handling vendors and possess the software to help the process move along smoothly. By only using professional and dependable vendors, management companies also allow the community to look more appealing overall.
- Financial Support
Keeping track of HOA financials is not typically a job for one person, let alone someone with little experience dealing with finances. A major benefit of hiring an HOA management company is financial assistance. Most companies will have a Certified Public Accountant (CPA) or accounting specialist dedicated to their community to help take some of the financial weight off the board members’ shoulders.
- Legal Aid
There are many laws in place that are important for board members need to be aware of. Through having an HOA management company, communities gain a significant amount of legal expertise that they otherwise may not have. If legal problems arise, the company’s legal team will be there to help.
The benefits of hiring an HOA management company go on and on. To learn more about Vesta Property Services and our commitment to our customers, check out our brochure here: vestaps.com/brochure.