Community managers can save you time, money, and headaches. These people manage community organizations such as HOAs (homeowners associations) and other residential communities. At Community Property Management (CPM), we serve condominiums, villas, townhomes, HOAs, and all other types of multi-family communities.
Below you will find the top five reasons why you should hire a community manager.
5 Reasons a Community Manager Can Save You Money and Headaches
Are you thinking about hiring a community manager? If yes, here are five reasons how a community manager can save you money and headaches.
1)They manage your financials and budget.
Most Boards are run by volunteers. Having an accountant or lawyer on the Board will likely be happenstance. That is where a community manager can be a big help.
Many community managers are financial professionals. They can help you with all your accounting needs. In the long run, these services will save you a lot of money. Plus, community managers are often authorized to pay Board approved expenses and create monthly financial statements.
2)They schedule and manage routine maintenance.
Finding and hiring the best vendors can be a huge problem. First, your Board members have to research and discover the top vendors for a specific task. Then they have to negotiate with their chosen company. This can be a time-consuming, and expensive, process. Community managers usually bring their own vendor recommendations. Because they already have a relationship with these people, negotiations are much easier as well.
No matter what your maintenance needs, a community manager can help get it taken care of efficiently and quickly.
3)They facilitate communication between the Board and homeowners.
Communication is key in all multi-family communities. Homeowners need to have a place to ask questions and provide concerns. Your Board has to be able to communicate among themselves and with homeowners.
Community managers, like CPM, can provide online communication services. This includes a web portal where all communication is fast and simple.
4)They know local laws and regulations.
Following local laws and regulations is essential for any well-run HOA. In the St. Louis Metropolitan area, that means understanding how rules and regulations change across many cities. Clayton may have different regulations than St. Louis County, and so on.
Community managers are professionals who will be intimately familiar with all laws and regulations in your area. This allows them to help your community understand and follow all relevant regulations, which can save money and headaches in the long run.
5)They schedule and plan Board and community meetings.
Let’s face it, scheduling, planning, and running meetings can be a pain. It doesn’t matter if it is your yearly, quarterly, or monthly meeting. No one wants to take that job. Enter a community manager.
Community managers can save you the headache of planning your Board and community meetings. They help schedule the meeting, distribute notices, prepare any needed research or data, and ensure attendance. All your Board will have to do is show up.