Condo Media - November 2017 - 48
The Region
MAINE
To Self-Manage, or Not?
There's Two Sides to Every Coin
[by Jack Carr, P.E., RS, LEED-AP]
I have a bias toward condos being
managed by professional property
managers. This probably is due to my
belief it matches the reason many buy
into condominiums or homeowner
associations (HOAs) in the first place,
that is: "THEY will take care of that."
Actually, in the spirit of full disclosure,
this bias is also driven by the fact most
of my best referrals to new condo work
come from property managers I've
worked with before. However, my opinion has modified after participating at a
recent CAI-NE Maine Forum for board
members of all types of condos.
Many Maine condos and HOAs are
self-managed. This is not simply due
to Maine Yankee thriftiness or Maine
condos tending to have fewer units to
manage than other parts of the country. This tradition of self-management
springs from a variety of reasons, not
the least are the unit owners' desire
for a greater sense of community and
control over their living space.
48
CONDOMEDIA
Being an engineer, I needed to
consider the problem in a logical and
organized manner by creating a sophisticated analytical tool. I grabbed a blank
piece of paper and drew a line down the
middle free hand and labeled the two
columns: Pros and Cons. The following
is a summary of the items listed:
PROS TO SELF-MANAGEMENT
n Save Money
The board members and unit owners
are unpaid volunteers. Many owners
may have the management, financial,
and technical skills necessary to run a
condo organization. The condo's funds
can be used to selectively hire professional help where needed and develop
committee delegation to manage: legal
advice; insurance planning; community
association management software; accounting; and building maintenance.
n More Control
With more involvement required by
unit owners in a self-managed community, a greater sense of community
will develop. People will get to know
one another. Important projects
will get appropriate recognition and
resolution. Community problems and
their priorities will be better understood, resulting in more equitable and
rapid resolutions.
n Hybrid Model
A community can adopt a hybrid
method of management by selecting
from the menu of different services
offered. They can outsource. This
could include hiring a professional
management company to deal with the
community's financial issues to allow
the board and committees to deal with
rule enforcement and project management matters. A second method could
include hiring a professional manager
to work in-house to dedicate their time
to one community rather than trying
to manage a portfolio of properties.
Condo Media - November 2017
Table of Contents for the Digital Edition of Condo Media - November 2017
Table of Contents
Condo Media - November 2017 - Cover1
Condo Media - November 2017 - Cover2
Condo Media - November 2017 - Table of Contents
Condo Media - November 2017 - 2
Condo Media - November 2017 - 3
Condo Media - November 2017 - 4
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Condo Media - November 2017 - Cover3
Condo Media - November 2017 - Cover4
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