- Self-management by the Board of Directors
- Self-management utilizing a community manager plus staff employed by the Board of Directors
- Professional management utilizing a community manager employed by the management company
In order for any community to pick the correct type of management several factors need to be considered including:
1. Community Size and Complexity
2. Financial Resources Available
3. Complexity of Community
4. Availability of Appropriate Volunteer Resources
5. Extent of Services and Amenities
Professional management companies provide an association with many advantages:
- Reduction of costs
- More qualified and impartial team
- Experience to implement the most effective policies
Every Association is different, therefore choosing the right management company is vital to ensure success. Identifying requirements and research helps the Board find the correct fit for the Association.
For more information on transitioning your community from self-management to professional management please click this link.
by Dan Tiernan, COO, Campbell Property Management