Self-managed HOA vs a management company
What a management company does, what it costs, and when a volunteer board can do it with good software instead.
Updated November 1, 20265 min readLeer en español
Many small associations wonder whether to hire a management company. It depends on how much work there is, and how much your volunteers can take on.
What managers do
- Collect dues and chase late payers.
- Pay bills and keep the books.
- Handle owner calls and violations.
- Coordinate vendors and repairs.
- Run meetings and send notices.
What it costs
Management companies usually charge per unit per month, and many charge setup and extra fees. Get several written proposals and read what's included.
When self-managing works
Smaller associations with a couple of committed volunteers often do well on their own, especially with software that handles dues, the books and notices. The key is splitting jobs so no one person does everything.
When to hire help
Consider a manager if volunteers are burning out, there's a big construction project, or nobody wants the treasurer job.
Tip: Middle ground: self-manage day to day, and hire an accountant for the yearly review.