Association Management Companies: Key Players in Community Development

Association Management Companies: Key Players in Community Development

The phone is constantly ringing, there's a mountain of paperwork to finish, and it's time to review the finances again. Without help, your association's volunteers could wear themselves out.

The best association management companies have processes in place to ensure efficiency. With their help, you can save time while ensuring your community's growth.

On the fence about hiring a property management company? Read on to discover the benefits of relying on their services first!

Save Time

An experienced property management company will have the resources and expertise to ensure efficiency. They can free up time in your busy schedule, allowing you to focus on your core mission.

Their association management services can cover:

  • Preparing financial records
  • Processing dues and fees
  • Financial planning
  • Membership inquiries
  • Organizing HOA meetings
  • Scheduling maintenance

Your association members have dozens of responsibilities they need to juggle to support your community. Those tasks can steal time and attention away from community development and larger projects.

The 2.5 million community association members in the US complete 98.5 million hours of volunteer service a year. How much time and energy do your volunteers dedicate to your community? Without support, they could experience burnout.

They may drop the ball on important tasks or struggle to meet important deadlines. Outsourcing to a property management company will free up time in their lives. That's time they can dedicate to enjoying time in your beautiful community!

Save Money

Implementing best practices and using state-of-the-art money will streamline operations. Reducing inaccuracy and inefficiency can save you time and money. Your association manager can help your community by reducing overhead costs.

They can also help you achieve cost savings through economies of scale.

Talk to a community development company if you're looking for ways to increase revenue. The best revenue-generating programs include sponsorships and advertising. These strategies will help the community generate more income.

Your property management company can also support your revenue generation goals. Only 25% of community members say their non-dues revenue generation improved. Almost half feel their inability to generate revenue is a serious or significant challenge.

You can use the increased revenue to ensure your community's financial health. Your property manager will also help you scale operations as you grow. You'll have the support and resources you need to thrive.

Access to Expertise

If your volunteers lack the necessary experience and expertise, you need association management services. For example, neglecting new regulations can lead to compliance issues and fines. Your association manager can ensure better governance and policy development.

They'll reduce your risk of legal or regulatory violations, leading to less stressful situations. Their expertise will support the community's needs, leading to higher member satisfaction.

Look into Association Management Companies

You don't have to struggle to meet your community's needs. Instead, research the best association management companies in Chicago. Leveraging their expertise can lead to ongoing community development.

Our team at PMI Chicago Metroplex has nearly 20 years of industry experience. We understand your community is unique and requires an innovative approach. Contact us to learn more about our association management services and how we can add value back to your community!