The Advantages of a Community Management Company
A first-rate Community Management company (CMC) could solve many of the Association's problems. Why?
• CMCs focus on running Associations well and affordably because it impacts the company's bottom line. They have a reputation to uphold among the many different Communities they manage, so will endeavor to do their best for our Community as well.
• A CMC's key customers are residents and members, NOT Board Directors, making it more difficult for politics to meddle with Association operations and finances.
• A well-managed Association benefits residents hugely. They can depend on the finances being handled prudently (and honestly). The staff will be well trained and courteous. Projects will begin and end on schedule, and so on.
• It will be far easier to attract volunteers to serve on the Board and Committee because the "heavy lifting" will be performed by the CMC, not Association members. Instead of spending 20-40 hours a week, Directors and Committee Chairs will only have to spend a few hours a month to ensure the Association is performing as desired. They will then be able to focus on a Board's proper role, which is to set overall direction and policy.
• It is far easier (and less expensive) to terminate a CMC's contract than to fire an "independent" General Manager. If problems arise, a CMC has a financial incentive to correct them and quickly.
• A poorly performing independent GM does not have such an incentive because he/she knows that a generous severance package will be offered no matter what. HVLA has never terminated a GM "for cause," which means the Association can be counted on to provide several months' severance in order to avoid legal complications. GM candidates likely know this when they apply.