Once a new community is founded, residents must move quickly to put a leadership group in place. These leaders will oversee all aspects of the community and make sure that the residents approve of how the new neighborhood is run. These groups will also be responsible for providing community management services like providing upkeep of shared spaces and keeping residents in the loop. However, it is difficult to assemble a group of homeowners into a homeowners association (HOA) when most of the community’s properties are still unsold. The owners of these communities are also unable to provide community management services because they are too busy trying to sell these new properties.
The best action is therefore to outsource the task of community property management to a professional property management organization. This will ensure that the community is in excellent condition as it is being shown by the owners to potential buyers, and the presence of a community property management group might even make the property an easy sell. Below are a few more ways that a community property management organization will benefit a new neighborhood.
One way that neighborhoods benefit when a community property management group is hired is when these groups are able to help with the foundation of an HOA board. When an HOA board is established, the board members must satisfy several legal requirements and need to complete paperwork so that the association can be officially recognized. Additionally, the organization needs to acquire a tax ID number and bank accounts for operating and reserve funds. A company that provides community management services will be able to tackle these and other issues that are associated with the HOA’s formation so that the HOA board can begin providing essential services as quickly as possible.
Once the HOA board is established, the community property management organization will be able to help the board run smoothly. This company will help the board create subcommittees to focus on specific issues, and provide training for members of each subcommittee. If necessary, the company can even appoint an on-site representative to lead board meetings so that each issue is addressed quickly and effectively.
Another major benefit that community property management organizations provide is the management of shared areas within the neighborhood. An established HOA board might have enough experience to evaluate and identify the best vendors to provide services like trash removal, landscaping, and chemical testing for swimming pools. The board might even have a list of trusted vendors that it consults when it needs to provide community management services. However, a new HOA board made up of the few individuals who have already moved in to the community is unlikely to have this experience. Meanwhile, the property owners usually do not work on providing these services, so they are just as unlikely to have the necessary experience. A community property management company will have the experience and time needed to take over this responsibility and find quality vendors.