Sensitive Issues: It is difficult for a self-managed property to deal with sensitive issues. (i.e. payment violations, complaints, etc) Board members face a dilemma as the people who are late with payments or in violation are friends and or neighbors. By having a management company act as the liaison, or buffer, between the "Board" and residents/homeowners, the board members who volunteer their time on behalf of the community can still enjoy their home.
Collection of Assessment Payments: The association relies on prompt payment of assessments to pay their obligations. When a homeowner defaults, it hurts the assoication, it is extremely difficult for a broad member to approach a neighbor regarding non-payment of dues.
REOJIM INC. Realty & Management: Property Managers for Retail - Office - Apartments - Condo, Homeowner and Townhome Associations. www.reojiminc.com
Look for part two of Why do we need a property management company we will discuss real estate sales, vendor, repairs, and phone calls.
Please if you have any questions regarding the management of your property please post them here and will will provide a solution.
You can contact JIM PUSATERI, (REOJIM) by e-mail:jim@reojiminc.com or (815) 483-2411 x 100. be sure to listen to our podcast recordings regarding current issues in real estate: http://www.reojiminc.com/Today_with_JIM_Podcast/page_2202293.html