Managing condo association finances is one of the biggest responsibilities board members face. Ensuring that they’re using the community’s resources most effectively is paramount to sound budget planning.
When evaluating the best use of resources, one area of spend often discussed is whether to outsource certain responsibilities to specialized firms including professional management companies and attorneys. Below we’ll discuss how enlisting the help of professionals benefits Florida HOAs.
Improving Operational Efficiency Through Outsourcing
Condo association board members are volunteers, and while some may have professional experience related to law or property management, the vast majority do not. And these challenges are complex, especially those pertaining to law.
Instead of taking them on themselves, the majority of HOAs find that outsourcing to specialized firms can improve the operational efficiency of their association. Moreover, delegating these duties to professionals can ease the burden of responsibility on volunteer board members.
Weighing the Pros and Cons of Professional Management
Maintaining a condo association property is a full-time job. This is just one of many reasons why some HOAs turn to a professional management company to oversee it, yet it comes at a cost. Board members must weigh how a professional’s expertise in property management compares to its cost.
Professional management companies assist with the following:
- Administrative support
- Financial management
- Vendor management
- Rules enforcement
- Common area maintenance
- Communication
Their services can relieve board members of much of the day-to-day operational needs of the association, and do so much more efficiently.
Navigating Legal Challenges with an Attorney on Retainer
HOA attorneys on retainer serve condo associations in many capacities. They provide legal guidance on various matters affecting the association including interpreting governing documents, advising on compliance with state and local laws, and offering legal opinions to the board.
Attorneys also serve as legal counsel for navigating homeowner disputes, representing associations during litigation, and assisting in reviewing, drafting and enforcing the CC&Rs
To learn more about how partnering with a community law attorney can help your association thrive, contact our team at Dania Fernandez and Associates, P.A.
We offer legal assistance in all matters of condominium association law, homeowners and community association law, real estate litigations and transactions, residential and commercial closings, and insurance law.
We pride ourselves of our level of commitment to our clients. We love what we do, and we do it with utmost care and professionalism.
