A good community management company will cost you money. While the cost shouldn’t bankrupt your HOA, it will take money out of the budget. You shouldn’t just look at the cost, however. HOA management provides a lot of benefits that make them worth the money.
5 Reasons HOA Management is Worth the Money
If you are on the fence about hiring a community management company, consider the five benefits listed below. You will find they make HOA management worth the money.
1) Better technology.
In the age of COVID, technology has become more important than ever. Your community must have a digital way to connect with your residents. Online video conferencing, payment options, and portals are essential pieces of technology.
To have access to the most state-of-the-art technology, you need to hire an HOA management company. A good company, like D.H. Bader, will establish and maintain your HOA’s website, thereby saving you time.
2) Legal assistance.
HOA management provides a lot of services, but legal help is one of the most crucial for communities. Since HOA boards are comprised of volunteers, it is unlikely you will have a legal expert available. This can be an issue when legal questions arise.
Community management companies work with attorneys who specialize in community association law. They are available to help you in times of crisis. They are also available to guide your HOA when decisions are made, which should stop a lot of crises from happening. You can use their guidance when your Board makes decisions.
Speaking of crises, it is always good to be prepared when you run an HOA. You never know what might go wrong. From a water main break to a freak snowstorm, you need to be prepared. This involves having the vendors in place to deal with the emergency. Having experienced professionals in your corner to guide you through the crises is also crucial.
4) Greater community appeal.
HOA’s that use community association management are more appealing to buyers. The results are visible for all to see. Your HOA managers will have a variety of pre-screened contacts with vendors. The better the vendors, the better your community appears.
Plus, HOA management can take some of the burdens of maintaining a community off of your board’s shoulders. With more help, a greater amount can get done, which increases community involvement and makes your HOA an appealing place to live.
5) Financial advice.
In addition to providing guidance, HOA management has financial experts on staff as well. These financial experts can help your Board plan the yearly budget. They can also aid in ensuring that your taxes are filed accurately, and on time.Finally, they are an objective third party. So, when financial decisions need to be made, their advice can be trusted as impartial.
If you are looking for the HOA management in the Laurel, MD, area that is most worth the money, you need to contact D.H. Bader. Our Property Management Services provides everything your community needs to thrive.