So who manages your Homeowners Association?

By
Managing Real Estate Broker with Full Circle Property Management

So who manages your HOA now? Is it a bunch of owners who have full time jobs and are stretched thin and don't have the time to spend working on it? Or did you find a management firm or person who was the lowest bidder and now you only see them when it's time to get a check?

And what exactly should they be doing?

 

These are the questions that many people struggle with everyday in their homeowners association. Without good association management you will quickly turn into an association where people do what they want, when they want, using the materials they want, and then slowly over time the homes lose money or become a less desirable community.

The way to maximize value is to look good, be good, and be well managed! To maximize your value you need to have your best shirt on when potential homebuyers drive through, and you want to entice them to pay a few more dollars and choose a home in your area as rising prices will raise your price too.

So check around, check prices, and check references! There is little differance in price between management companies and it only cost a few more dollars to get a good one. Make them show you sample reports, commit to an inspection schedule, and commit to who your manager will be for follow-up. A good manager is a good partner, advising you on your duties and obligations, not telling you what should be done. Its a partnership!!

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Topic:
Real Estate General Information
Location:
Ohio Fulton County
Tags:
property management
hoa
condo management
property management ohio

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Rainmaker
1,256,196
Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer

I have not taken rental management units in self-managed HOAs for over a decade - too many personalities and NO consistency of management.

Apr 06, 2013 10:26 PM #1
Rainmaker
1,583,943
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Lend Smart Mortgage, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance
Dennis, I understand your statement. Unfortunately, many self-governed HOAs develop an agenda based on the whims of the board, while professionally managed HOAs act without any humanity. There must be a balance that works or the benefit of the residents.
Apr 06, 2013 10:31 PM #2
Rainmaker
2,139,815
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Dennis,  good points.  When I lived in a homeowners association we did change companies several times until we got it right.  Norman makes a good point, too.  i served on the board and became the president and there were many whims to deal with.

Apr 06, 2013 10:45 PM #3
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Rainer
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Dennis Swartz

MBA, GRI...experience counts!
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