Working Together for Successful HOA Management The Board, Homeowners, and Property Managers
One of the biggest issues in HOA and Condominium Association management is not working cohesively to achieve successful management. Differing viewpoints and approaches to property and community management, or worse, poor communication surrounding Association management make for an inconsistent presentation.
Many times the Board, the homeowners and the property management company have not established a shared vision or developed an agreeable long-term plan. The disparity in vision results in a ‘one step forward, two steps back’ effect on the administrative, financial and physical management projects.
In this article, we’ll share some of our industry expertise from over 30+ years of experience in property management. You’ll learn how to easily work together with all parties involved to achieve cohesive, consistent, and successful HOA or Condominium management
Failure to plan is planning to fail
It may seem obvious, but more often than not we see self-managed properties (or worse, unorganized property managers) that do not have a plan. Not only is there no plan, but decision-makers and Board members actually have completely different visions in mind. This will result in chaotic and nonsensical spending and incomplete projects.
For example: One Board member schedules landscape vendor meetings while another hires a tree trimmer to cut everything down.
Or: Board members want to allocate funds to community-wide pressure washing projects, while homeowners vote to have finances allocated to resurface roads, meanwhile the property manager has already been instructed to put finances aside for new roofing.
HOA and Condominium Association management is futile without an effective plan.
(Here are a few other ways to identify poor property management, too)
Start with a plan
Believe it or not, property management is mostly about long term planning (not just short term results.)
When onboarding new accounts we always start by establishing the long-term goals, and visions for the property. It will be hard to achieve success in property management (or in anything really) without a clear and agreeable vision of what ‘success’ looks like.
Start by asking your Board, homeowners, residents, and neighbors some questions:
What are the overall goals for the HOA or Condominium Association?
What are the long term visions for the property?
What are the short term goals for the property?
What are the financial goals for the Association?
Who will take care of administrative management tasks?
What are the physical property management expectations?
What factors are important to the homeowners?
Are you seeking to increase property value through property management? (You should be)
The answers to these questions can act as a guide for your Association to move forward for successful management. This will alleviate the disparity in approach because now there is a shared understanding of intention to create a long term vision.
Pro Tip: Write it down! Actually taking the time to put a Property Plan on paper can really help reduce any confusion when working as a team.
For example, what is your neighborhood’s hurricane or emergency plan? It’s important to think through some specifics in this approach.
By using the answers to these questions, your Association can address specific topics that are important to your neighborhood and ultimately work as a team to grow your community, successfully.
Whether you work with a local property management company or self manage your south Florida community, a clear plan is a key to moving forward and achieving goals.
Check out our recent article for more information on establishing an effective Strategic Plan for your Boca Raton community Association.
A key factor in successful property management is an agreement in vision and staying in good communication surrounding management efforts.
Board members should work closely with property managers and management teams to establish effective communication practices. Once established, they should continue to work together to develop an agreeable plan and work towards it.
We’ve found that practices like group emails, regular meetings, and opportunities for Board, homeowner, and managers to meet greatly improve the chances of overall success in management.
The Board should also meet regularly to go over changes, discuss upcoming projects, and keep things on track.
Similarly, the Board or at least some designated members should maintain regular contact with the property managers to ensure everything is going according to plan.
Successful property management in south Florida
Achieving professional property management requires dedication and effort. There must be an agreeable vision and commitment to achieve the vision in order to succeed.
Our management team has over 30 years of industry experience and can guide your Board and HOA to success.
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GRANT PROPERTY MANAGEMENT
Office: 1599 NW 9th Ave Boca Raton, Fl 33486