Is a Building Management and Maintenance Company a Viable Replacement for the Homeowners' Association?
63% of households are managed in residential buildings. Hence, most of us are familiar with the body called the "Homeowners' Association" and its interactions.
In this article, we will examine whether it is worth continuing to deal with the Homeowners' Association, or if it is better to hire a management and maintenance company that will take care of the building's maintenance, cleanliness, security, and safety.
To conduct such an examination, we need to understand the responsibilities of each of the bodies: the Homeowners' Association and the management and maintenance company.
Homeowners' Association - Everything related to building maintenance is under its responsibility:
- Building maintenance
- Exterior appearance
- Cleanliness
- Gardening
- Elevator (maintenance and operation)
- Contacting relevant authorities during a fire
- Renovations when necessary
- Plumbing
Typically, the chairman of the Homeowners' Association is one of the building's residents, and he/she is responsible for:
Ensuring optimal building maintenance.
Collecting funds from all residents and paying the professionals maintaining the building.
Organizing meetings of the building's residents from time to time, as needed.
Management and Maintenance Company - Also takes care of all building maintenance aspects, but thanks to the experience and professionalism of the management and maintenance company, its care for the building will be upgraded and improved compared to that of the Homeowners' Association.
A management and maintenance company will hire for you, in a centralized way, a cleaning company, elevator technician, gardener, etc., and manage all the related bureaucracy for you.
Advantages of Hiring a Management and Maintenance Company Compared to the Homeowners' Association:
- No need to deal with external professionals.
- Reducing the pressure and tensions faced by the chairman of the Homeowners' Association.
- Savings - External contractors offer lower prices to management companies.
- Centralization - All maintenance aspects of the building are under the responsibility of one company.
- Experience of the management and maintenance company.
- Ensured quality and professionalism.
- Preventing disputes and discomfort among the building's residents in complex situations. If difficulties arise with the management company, it can simply be replaced with another.
It should be noted that a building managed by a management and maintenance company is perceived as higher quality by the public, and the demand for apartments in it increases.
Important to know: Many fear the cost of hiring a management and maintenance company, but in fact, the difference in economic investment compared to the Homeowners' Association is not significant.
On the other hand, the difference in the quality and professionalism of building maintenance is significant and worthwhile.
There is no room for hesitation - hiring a professional management and maintenance company is worthwhile and will upgrade the quality of your building. For details, contact us today!
