Established communities have their fair share of needs from maintenance to finance, but developing communities have even more needs that demand a specialized approach.
When the relationship between a builder and a management company is strong, homeowners in developing communities get the living experience they signed up for and developers receive some unsuspected additional benefits.
Here are five ways everyone can have a better experience when the developer and a qualified management partner work together.
1. Responsive Customer Service. After homeowners sign on the dotted line, they’re excited to move in and they have endless questions about their new community. When are the clubhouse hours? Who do I call for a maintenance issue? By answering questions, addressing complaints, and more, a dedicated management partner gives homeowners the customer service they deserve and relieves builders of fielding all the calls and emails.
2. Transparent Communication. Transparent communication about projects and problems gives homeowners a positive customer experience with the developer that helps both long-term. As a developer continues to build the community, homeowners have a right to updates about the progress. To address this need, a community management partner will run townhall meetings that facilitate a question and answer session between homeowners and the developer, visits from first responders in the community, and more.
3. Smooth Sale Process. An easy sales process is crucial for preserving the developer’s relationship with homeowners and giving buyers a stress-free experience. The right technology provided by a quality community management partner streamlines the process by efficiently delivering all the necessary documentation and information to the title company, turning a potential hassle for homeowners and developers into a benefit for both.
4. Sound Governance. Without airtight governing documents in place, an association can’t exist. That’s why working with an expert to create the documents is so crucial to the future of your community and the living experience your homeowners expect from buying a home in your development. Quality documents that are double-checked for compliance ensure that homeowners can receive the services and amenities they want from living in a managed community.
5. Accurate Budgeting. Creating an accurate budget doesn’t only benefit the community during construction – it helps the community get a successful start when control is transferred to the homeowner. A quality budget gives insight into maintenance costs, assessments, and other important items that prepare future board members for fulfilling their fiduciary duty and leading the community to success.
In short, the developers role is to focus on building a community's structure so that homeowners have the positive living environment they envision, while a management company's role is to facilitate the details that help color the homeowner's living experience. Structure without details won't lead a community to success, but when the builder provides the community's structure, then develops a positive relationship with a dedicated management company to manage the details, everybody in the community benefits.
Want to learn more about how a strong community management company can benefit developers?