Whether yours is a large or small condo association, a mid-rise or high-rise condo, or a master-planned community, you can receive major benefits by choosing to work with a condo association management company. The larger your community is and the more amenities it offers, the more benefits you can get in such a partnership. The right condo management team helps you skip the hassle of serving on an association board while maximizing the return on condo association fees.
What Are the Benefits of Hiring a Condo Management Company?
While there are many benefits of hiring a condo management company, here are six our clients like most:
#1: Reduces stress on volunteer board members.
Board members still answer to their owners. However, they no longer have to stress over the details of everyday property management. A good management company is available when needed, including at monthly, quarterly, and annual board meetings. They will provide the board with detailed reports, including maintenance and financial reports, along with a complete property analysis. When issues arise, board members don’t have to address it, but instead can take the problem to the management company.
#2: Prepares a viable budget.
The budgets for many COA’s tend to reflect “what we did last year.” When you hire an experienced company, it should have the strategies in place to create a viable budget that provides value to the board and the owners. The management company will have a broader range of experience that helps them to know exactly what it takes to manage a condo like yours.
#3: Delivers an economy of scale to your community.
An experienced management company will bring an economy of scale to your COA that benefits you in many ways—from bookkeeping to maintenance. Whether it’s landscaping or roofing, a management company will have relationships and resources not available in other management options. This will make the operation and management of your community much more efficient.
#4: Dramatically improves services.
Many property managers feel it’s their job to maintain the status quo. When you hire a proactive, professional community management company, your community will improve. The improvements may be small like more professional landscaping. Or you may see larger, long-term improvements like the addition of amenities or facilities.
#5: Provides professional owner relationship and concierge services.
Hiring the right condo management company for your COA can create a better relationship between your COA and unit owners. They can quickly and skillfully handle fee collections and enforce covenants.
#6: Adds value to the property.
Having a community that is professionally managed means you can trust it will look good and feel good living there. Details no longer slip through the cracks. When facilities are not just maintained but improved upon, the value of the community rises. It becomes more desirable to live there, and that reputation will spread. The right management company is not an expense, but an investment.
Choose the Right Condo Association Management Company
At Ardent Residential, we provide friendly, professional condo association management services. Our mission is to minimize the pressures and hassles of serving on a COA board. We have experienced professionals to take on any challenge and bring industry-leading technology to your COA.
When you work with Ardent, you will quickly see our commitment to excellence in customer service to the boards and owners we serve. If you are considering a new condo association management company, now is a good time to find out what Ardent Residential has to offer. Call us at 844-9-ARDENT.