Four Advantages of Hiring a Larger Property Management Company
Deciding on what property management company to hire is a big feat for any condo board. Many may feel the urge to stick with a small property management company due to their ability to provide personal service. However, many larger property management companies are still able to maintain that level of personal service while also providing a number of other advantages such as:
More Internal Resources
We all know managing a condo is no easy feat - there are always things that need to be managed and problems that need to be solved. For instance, if a pipe in your building bursts after hours. When a larger Property Management company is called after hours, the company is more likely to be equipped to deal with the emergency using internal resources rather than having to reach out to a third party causing delays in response time.
Larger property management companies have more internal resources available to help problems get solved in an efficient and timely manner.
A Team Approach
Property Managers spend a large portion of their day on site attending meetings and managing the needs of their condominiums. This can make it hard for them to always be available to answer client questions. Larger property management companies can allow for a team approach to ensure there is always someone available to answer any questions or concerns that may arise.
Efficiencies and Economies of Scale
Let’s face it, everyone wants great service for the best possible price. Larger Property Management companies can help you get that. At CIPM, for example, we are able to provide our clients with group pricing deals with our many trusted contractors. Savings aside, service quality can also be expected to be better due to servicing a larger client base.
More Timely Responses
Troubleshooting issues in a timely manner as they arise is important. Say the elevators in your building stop working, so you contact your property manager but don’t hear back in a timely manner. Working with a larger property management company helps to alleviate this issue. A larger team allows for more work sharing, more resources, and more timely responses.