Striving to be the Best How Management Companies Stay Competative

 According to the Florida Department of Business & Professional Regulation, the rate at which real estate professionals in Florida  are seeking licenses has fallen 75 percent in the past five years. Many  professionals believe the decrease of license seekers is due to the state’s residential market meltdown, but the fact remains: condominium and cooperative  management companies are a dime a dozen in the Sunshine State.  

 Despite the slow growth in Florida’s real estate market, existing condos and co-ops need smart management more than  ever. Management companies continue to vie for business across South Florida,  and sorting through all the options can be tricky. But, a proper assessment of  your association’s needs, can make all the difference in helping you make an informed decision.  

 Hiring a Manager or Self-Managed

 According to the Community Associations Institute (CAI), a nationwide  organization providing information, education, and resources to community  associations, there are about 60,000 community association managers nationwide,  and there are 10,000 community association management companies. Between 15 and  25 percent of common interest communities—co-ops and condos, respectively—are self-managed and don’t employ an on-site manager or management company.  

 Therefore, it takes a lot for a management company to stand out in the crowd.  

 Some attempt to do so by marketing themselves as “boutique” firms, specializing in a certain type of building or level of service. Others  go broader, offering everything from day-to-day administration to maintenance  services and capital project management. Still, others focus on bigger building  complexes, which inevitably need more services than smaller communities.  

Read More...

Related Articles

Cooperator Expo South Florida Returns to Ft. Lauderdale

South Florida's Biggest & Best Condo, HOA & Apartment Expo