An HOA capital expense (CapEx) project can be stressful. It’s a big undertaking, and you must make sure that your community association is organized and on schedule. If you don’t have time or the resources to do this yourself, hiring a virtual employee (VE) can save your community association time and money by helping with a capital project.
Affordable Project Management
Project managers are in high demand for a good reason – doing the work is hard enough without having to PLAN the work you’re trying to do! A HireSmart VE is the perfect asset to help manage your community’s capital project from the sidelines.
Now hiring someone to manage your capital project might feel like you’re adding costs to an already expensive process, but it can help to save you money in other ways. For example, a VE can work without distraction from any other projects which might be going on in your community association right now. This means they're more likely to finish the job quickly, saving time and money long-term.
VEs can tackle just about every component of a major capital project, from research and record maintenance and management, liaising between the board, the vendors, and the community, and handling important timelines to ensure progress and timely project completion.
Research & Records Management
A HireSmart VE is the ideal person to handle research for your CapEx project. They can find out all the information you need about a project to make an informed decision, such as:
- What will be needed for your capital project? This includes researching what equipment and materials will be required and what steps are involved in completing it.
- How much will it cost? Virtual employees can take their time sourcing out various pricing models and costs of work, so they should be able to give accurate estimates when looking at costs associated with any given CapEx project.
- What is the timeline? A VE can assist in determining any deadlines or time constraints associated with getting started or making progress on your capital project. This way, everything gets done when expected and nothing falls through the cracks due to a lack of organization or planning (which happens more often than most people think).
When it comes to keeping records, a virtual employee can help you stay on top of the details. Your VE will help keep track of important information related to capital projects. This includes:
- Filling out and maintaining any key pieces of documentation involved in the project (e.g., RFPs and RFIs)
- Documenting complete details about each vendor involved in your project (e.g., contact info, project progress updates)
- Keeping track of vendor quotes and receipts until it’s time to pay them out and ensuring all copies of payments made are documented correctly.
A key component of project management is effective communication. When it comes to communicating capital project details, your virtual employee can be an invaluable asset.
VEs can act as a liaison between your community association board members for any project components that require their approval, such as changes or delays in construction schedules or new vendors. They can also provide regular status updates on project progress to ensure everyone is always up to speed, eliminating time-consuming games of “telephone.”
Your VE can also handle community-wide communications about the project’s progress. Updates about parking structure clearances, road closures, lighting or electrical updates, or any other information that might impact their daily routine, can all be handled by a Virtual Employee. Emails, phone calls, SMS texts, or bulletin board notices can all be handled by a HireSmart VE.
Vendor and Timeline Management
As a collective board of people, managing relationships between multiple points of contact can get … dicey. Your virtual employee can manage all contractor communications so that they only have one point of contact if or when issues arise during production or installation processes — saving everyone involved time by reducing communication overhead associated with multiple people needing access simultaneously (i.e., notifying multiple parties).
This makes tasks like scheduling and meeting management significantly less difficult. With only one person managing the board’s calendar, there are fewer chances for meetings, installations, or vendors to be double-booked by accident.
Start Your HOA Capital Project Today with a HireSmart VE
Ready to kick off your community’s next big project? HireSmart Virtual Employees are custom trained to handle whatever workload you need and can make CapEx project management seamless for you and your board. Contact us today for your free 30-minute consultation to see if a VE is the right choice for you.