Should You Hire a Virtual Management Company?

HOA board members are busier than ever. As a leader in your community, you have responsibilities outside of your volunteer board position. You have your own full-time jobs, family responsibilities, and other demands on your time. 

Hiring a property management company to work with your HOA is a good idea. When you work with a virtual management company, you can get all the services and expertise your HOA needs without spending more than you want to. 

The HOA board and the HOA management company works together to protect and promote the community and to handle the logistical operations of the board. 

With virtual management, you can expect your management partner to work efficiently and proactively to keep your community’s finances, communication, and direction on a positive path. 

At Hill & Co., we’ve been working with HOAs throughout the state of California, and we do a lot of virtual work for our association partners. Let’s take a look at why your HOA might benefit from a virtual management company like ours.

How Virtual HOA Management is Different

HOA management is sought by associations when they need help handling tasks and planning related to their HOA or condo association. Companies like ours provide HOA management services to help the board fulfill its roles and duties. Associations often save money and time by working with professional managers because of our relationships with vendors and contractors, ability to manage homeowners and collect dues, and implement and enforce the community’s rules and regulations. 

How is virtual HOA management different? 

It’s similar to traditional HOA management, but you don’t have the physical presence of a property manager at your community. The roles of the management company and the HOA board remain the same. With virtual management, all the services, correspondence, and meetings happen remotely. 

Nearly every HOA can benefit from virtual management, but it’s especially beneficial to those self-managed communities who need a bit of support and some extra resources. There’s not a lot of experience in a self-managed HOA, and when it comes to managing your accounting, your budgets, your meetings, and your residents – it helps to have a property management partner who has been doing this work for years. 

Technology has really given us a lot of options when it comes to how we work and learn. Instead of investing in an on-site property manager for your HOA, you can work with a virtual team who is doing everything you need without taking up space at your community. 

On-site property management comes with its own benefits for your HOA, but when you and your management team can work well together virtually, it can be a great way to cost-effectively ensure your association is performing as well as it possibly can. 

Leveraging Virtual HOA Management: The Benefits

With the right investment in technology and digital tools, managing an HOA virtually is efficient and cost-effective. We have HOA accounting tools, portals for board members, and all the systems and processes that seamlessly keep your association functioning and productive. 

Virtual HOA management can save you money without compromising high quality management services. Here are the best reasons to work with such a company:

• Virtual Support When You Need It

Managing an HOA is often a challenge even for experienced board members who are committed to their communities. There are time constraints that are impossible to work around, legal requirements that need careful compliance, and an entire community of homeowners and residents who have high expectations for the neighborhood in which they live. 

It’s hard to do everything yourself, especially when you’re a busy board member. Whether you’re new at this or experienced, you know what kind of a toll it can take on your personal and professional life. How much time can you really dedicate to HOA business? A virtual property manager is always in your corner, ready to pick up all the things that your board simply cannot get to. You’ll also get the expertise and experience that you’d have with a full-service, on-site management team. With virtual HOA management, your board benefits and your entire community does as well. 

Personalized support is the primary benefit of virtual HOA management. And, you’re receiving that support at a lower cost than full-service management. HOA boards often struggle to self-manage, and with virtual property management, you don’t have to struggle. 

• Virtual Management is a Cost-Effective Option

You’re likely to save money by hiring an HOA management company that can help your community earn more and spend less. With a virtual property management partner, you’re increasing what you save in management fees. You’re also cutting back on overhead costs. Your management team is not on location, but they’re still providing you with all the help and direction that you need. It’s a great way to demonstrate to your community that you’re being good financial stewards of their money. 

• Remote Work Delivers Higher Productivity 

Getting things done is absolutely essential when you’re on the board of an HOA. You’ll find that all of your work feels more productive when you’re supported by a virtual HOA management company. Fewer in-person meetings will take up your time. There’s less opportunity for distraction. You and your management team will know exactly what needs to be done, and you’ll be proactive about checking things off the list. Fewer interruptions is a great way to be productive. You and your management team will stay focused and get together virtually only when necessary. 

• Breathing Room for HOA Board Members 

The way we work has shifted since the worst months and years of the pandemic. 

The way that properties are managed has also changed. With our virtual HOA property management model, we’re able to continue supporting communities like yours in a way that’s safe and flexible. 

With remote HOA management, you get assistance, support, and resources without having to spend time and space on managing their physical presence. Your board and your management team are connected, but you’re not struggling with interpersonal dynamics that can often get in the way.