How much does professional association management cost?
Of course, many factors can affect the cost of professional association management. A large communities take advantage of the economics of scale. A small townhouse association will not have the same needs as a condominium community with numerous common areas and amenities that require regular attention. Some communities may require a full-time on-site employee. Many smaller communities require no such employee. Some communities need aggressive covenant enforcement, others like additional services such as organization and planning for specific community events. Does the association need a newsletter or community website?
Before your community begins searching for a new property management company, Nesbitt Realty recommends that leadership meets to discuss and determine which specific tasks that your community will need our management company to perform. For example, if community involvement is substantial, you may easily find a volunteer who will drive through the property once or twice per month to take photos of HOA rule violations or to prepare a monthly newsletter. On the other hand, the community might we happy to pay a higher rate to obtain these professional community management services. You should also establish expectations for the management company, such as how frequently amenities should be maintained.
Once you know the scope of work your community needs, Nesbitt Realty can provide quote for management services.
Often the per-unit rate may is lower for larger communities because of scalability.
Absolutely. A well-maintained community is a community that retains its value and desirability. A run-away association fee, or a mismanaged reserve fund is the surest way to hurt your property value. Hiring a professional company like Nesbitt Realty is a great way to build equity for you and your fellow homeowners. Nesbitt Realty cares and we bring the latest professional standards and proven cost-effective methods to make your association more responsive and effective in meeting your community's needs.