Running a successful homeowners association is no small feat. While some HOA boards operate under self-management, many others are turning to management software to help streamline and simplify the processes involved with the operation of their community.
Board members should carefully consider the following aspects when determining whether to self-manage or utilize HOA management software:
Association Size
While a small association with fewer than 10 units has a better chance to self-manage successfully, management software becomes increasingly beneficial for larger HOAs with a high number of units and shared common spaces. Larger communities demand more time, effort, and expertise of their often overwhelmed and understaffed boards.
Cost
The extra expense of hiring outside help is often enough for a board to justify self-managing their association. However, when weighed against the possible decrease in value caused by improper or inefficient actions within the board, professional management is more cost effective and may even save the association money in the long run.
Experience
HOA board members will vary in personality, accountability, and management knowledge. New or inexperienced board members may feel overwhelmed by the responsibilities associated with their position, leaving important duties unfinished or poorly executed. More experienced board members often find it difficult to agree on management styles and important community decisions. HOA management software can simplify the workload for each member and create a stronger, more unified board.
Legal Considerations
Self-managing HOA boards are accountable for their decisions and must be prepared to deal with the legal consequences of suits involving their homeowners or the general public. While a hold harmless clause in the association’s governing documents does offer some legal protection, boards may still be liable for legal ramifications due to certain types of mismanagement.
Getting the most out of your HOA Professional Management
Professional management can improve an HOA’s financial stability, increase member satisfaction, streamline tedious processes, and more. But when it comes to the success of any association, even the most technologically advanced HOA management software alone isn’t enough. Only when coupled with a dedicated, caring staff with which the board can interact and communicate can HOA management software be a true asset. Contact Spectrum Association Management today to learn how our refreshingly different approach to HOA management can contribute to the continued success of your community.
