Is your HOA Board considering hiring an HOA management company? If so, you might have some questions, like “How do we know which company to pick?” or “What should we look for in a management company?”
Luckily, the process doesn’t have to be as complicated as you may think. It’s best to start by knowing which questions to ask as an HOA Board about your needs, then knowing what to ask the company based on those needs before forming a decision. Here are a few things to assess in order to hire the right property management company for your community.
Depending on the size of your community, you may need an on-site property manager who spends standard office hours on-location, or you may be able to outsource to a property manager who specializes in HOA management. If you choose to hire an outside management company, be sure you have a clear idea of your manager's daily, weekly, and monthly availability, as well as how many hours a month he or she is planning to devote to your project.
Given the complex nature of many of the tasks performed by HOA managers, you may want to consider candidates who have attained certification through Community Associations Institute or other entities such as the CACM which offers specific training for association managers; or you may want to at least require candidates to have general property management certification.
The services they offer.
Just as each property is different, so are property management companies. It’s important that you understand what their role will be and what kind of services you should expect from them. Common HOA property management services include:
However, not all property management companies offer all of these services, while others offer a more robust service package. It’s important that you are clear about the service options of each potential HOA property management company so that your expectations are aligned before you choose a partner to work with.
How they handle maintenance issues.
A good residential management company will have procedures in place that clearly define how they'll respond to maintenance and any other emergency issues that may arise – because as we all know, these issues always happen when we least expect them.
Find out if a property management company has its own maintenance crew or if they work with preferred vendors. Will they get multiple quotes? Negotiate the best price and pay bills on your behalf? The right property management company for you will be invested in saving your community money and provide you with cost-effective maintenance solutions.
Having a knowledgeable, experienced, and communicative HOA management company can make all the difference in how effectively your community is handled on a day-to-day basis. Having these assessments and questions in place will help you find the right property management company for your HOA needs.
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