ACM News

Five Reasons To Hire A Property Management Company

Posted on December 20, 2018

Managing a townhome or condo complex takes time. Not only must you keep up with preventative maintenance in common areas, but you may also be responsible for limited common elements related to specific units. Scale this out exponentially to the size of your community, and it can quickly become more than you can handle on your own.

By hiring a property management company, you can make the lives of property owners easier and recapture time. Here are five reasons why a property management company will benefit your community.

1. It Makes Keeping Up With Regulations Easier

From municipal codes to state and federal regulations, there are a lot of legal requirements you must be familiar with when you manage a condominium or homeowners association. If you don’t stay on top of regulations, you risk running afoul of the law. Yet keeping up with these changes is highly time-consuming.

Local property management companies keep up with state, city and federal regulations that affect properties. When you outsource property management, you can ensure your community is ready for changing regulations without spending so much time on research.

2. You Can Stop Vetting Contractors

Managing homeowner communities means responding quickly when things go wrong. Unless you’re a jack of all trades, you’ll need a network of skilled contractors on whom you rely for their knowledge, expertise and prompt service in times of need.

Property management services have an arsenal of contractors in their phones. They work with these professionals on other managed properties and can vouch for their professionalism and workmanship. Whenever something goes wrong — or to prevent a problem from occurring — they’ll get the right person to your property to address it, and you won’t have to vet contractors. It’s a win for you and the community residents.

3. You’ll Increase Financial Transparency

Condo fees, HOA dues and other community fees must be properly managed. If you don’t have a bookkeeping background, getting the finances organized, paying the bills and taxes, and budgeting for repairs can be frustrating.
Property management companies provide accounting services that will put your financial records in order and make it easy to share community financial reports with owners. Community members can discuss how to use reserves for community improvements.
Property management companies provide accounting services that will put your financial records in order and make it easy to share community financial reports with owners. Community members can discuss how to use reserves for community improvements.

4. Stop Getting Late-Night Calls

While late-night calls probably don’t happen often, they won’t happen at all when you outsource property management. ACM Community Management lets residents report problems online and offers customer care phone support. Condo and townhome owners will be able to get help for their problem quickly, while you’ll stop getting those late-night calls.

5. Decrease Costs

Property management companies can actually save you money through economies of scale. Homeowners reap the rewards of this when your community has more money to put toward desired improvements, such as a new pool.

ACM Community Management provides high-quality townhome and condo management services throughout Chicago and the suburbs. Request more info, and find out how we can help your community thrive.

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