The Benefits Of Being Professionally Managed Versus Self Managed

To be professionally managed or not to be professionally managed – that is the question most Board’s struggle with. While being self-managed seems like the most effective option for cost savings, it can be quite the opposite. The commitment, expertise, and overall capacity of successfully managing a community is something worth investing in. As your Board weighs out all of your options, consider the following questions:

How much time do you have to consistently ensure that the operations of your community are running smoothly?

It’s not just the integrity of your community, it’s all the people within it who come with their own unique needs and expectations. Requests can pile up fast, resulting in residents who feel unseen and unheard, putting your well-intentioned leadership into question.

How familiar are you with community association laws?

No one expects you to be an expert, more or less a lawyer. With policies and legislation ever-changing, this is something your management company can take off your hands.

How skilled are you with creating an effective budget?

When it comes to managing an entire community, there are operating costs you may never have even considered. And as someone who may not necessarily be familiar with the industry, gauging whether you’re getting a good deal with a vendor or where you should put more money into may prove more difficult than you anticipated.

Managing a property is no simple feat. Commitment and consistency are key, and as a Board Member, we understand you have other important things on your plate – a career, a family, the list goes on. Burnout is a recurring issue in self-managed communities, and it’s one that leads many to professional management in the long run. We recommend you skip to the good part – a partnership with Castle Group. Learn more about how we can serve your community, request a proposal today at castlegroup.com.