Over 73.9 million Americans reside in homeowners associations and condominium communities. Unfortunately, volunteers don't always have time to dedicate to their HOAs. After all, you have a family to take care of, too!
With help from an HOA management company, you can avoid dropping the ball.
Not sure how to choose the right association management company for your community? Read on for the tips you need for an effective search!
Consider Your Community
Before building a list of HOA management companies, consider your community's needs.
Larger communities are more diverse and complex. If you live in a larger community, you need more comprehensive HOA management services. A small company might fail to meet your needs.
Consider your community's financial resources. How much can you dedicate to HOA management?
There's a misconception that more affordable services offer low-quality services. However, the best HOA management company will work with you. They'll customize their offerings to suit your budget.
Talk to your volunteers. How available are they to fulfill the functions of your HOA board?
If you're juggling too many responsibilities alone, choose comprehensive association property management. If you only need help with limited needs (like marketing or accounting), look for companies that specialize.
Check Credentials
Look into each HOA management company's professional history. Determine how long they've operated. Consider how many HOAs they've managed over the years.
There are over 296,200 property management businesses in the US. With the industry growing, some teams have limited experience.
An experienced HOA company is more likely to meet your needs and expectations.
Determine what education and training the team has completed. Confirm that the company is licensed and insured as well.
Review Services
Make a list of the problems your community has faced in the past. This list can help you determine what HOA management services you'll need. If a company on your list doesn't offer those services, keep searching.
For example, you might need help with:
- Financial management
- Administrative management
- Maintenance
- Building management
An established company likely has professional connections they can utilize for your benefit. For example, they likely know of the best vendors in the area. These connections are essential if maintenance and repairs are among your top concerns.
Ask more than one association property management company about their fees. Compare your options to recognize the average cost of services in the area.
Discuss Communicating
Determine how the HOA management company plans to communicate with you and your HOA board members. For example, they might use an online portal. Companies that utilize technology ensure communities have real-time access to information.
Ask if you'll work with a single point of contact. Relying on a single community manager can make communicating easier. A dedicated manager will understand your needs and expectations.
Find an HOA Management Company Today
An experienced HOA management company is more likely to meet your needs. Use these tips to narrow down your options. Choose HOA management services that align with your needs and goals.
With help, you can help your HOA community thrive this year.
Want to simplify your search? We're available to help your community.
Contact us today to learn more about our services.
