So You Don't Think You Need A Management Company

Picking a mangement company can be tricky but most people focus on cost.  When cost alone is considered, owners then question whether a management company is even necessary.  Sure they can pay their bills and call vendors when things go wrong.  While it may be easy to collect assessments and pay bills, there are other, equally important things to consider.  While it may seem like saving a few bucks each month is a great deal, consider the experience, wealth of resources and knowledge that comes with a management company.  When deciding that a management company is just too costly, even when each unit is only paying $30-$35 dollars, here are six things to consider when going the self-managed association route:

• Who will be the emergency contact? Emergencies tend to occur after hours, at the most inconvenient times.                                             
• How will vendors and projects be supervised in the middle of the day when everyone's at work?     
• Who will be responsible for obtaining quotes for projects, will they even take the time to obtain three quotes before hiring vendors? 
• With an association full of new owners, how will you know what the laws are?  Who will enforce them?                                   
• Is the board's time worth more than the $30-$35/unit tey're saving each month?                         
• Who will pick up the slack when an owner or board member decides they're no longer interested in fulfilling the obligations of their position?  This happens even with managed associations.