There are currently 358,000 community associations in the US. How does yours compare to the rest? If you're struggling to complete, request association management services.
Not every company will offer the services or level of expertise you need. Before hiring a manager, use these tips to compare association property management companies. Find the best partner for your community today!
Talk to Your HOA Board
Before you begin comparing HOA management companies, consult your HOA board and volunteers. Ask where they've struggled or needed help in the past. They'll help you find a company based on the community's needs and goals.
For example, perhaps they need help:
- Increasing HOA board meeting attendance
- Managing the community's finances
- Collecting HOA fees
- Scheduling HOA property maintenance
- Collecting delinquent funds
- Screening and hiring vendors
Prioritize finding a company that meets all your requirements. Choose a company that will customize their services based on your needs. Otherwise, the company may waste your time and money.
Your HOA management company should take the time to learn about your community. Their customized services will ensure successful operations.
HOA Management Experience
Consider how long each association management company has offered services. The management industry has increased by 2.1% annually over the last five years. These newer companies lack hands-on experience.
A team with years of relevant experience will better understand your concerns. They'll already have effective processes in place to meet your needs.
Make sure each company is licensed and accredited. Check for accreditation by the Community Associations Institute.
Determine if you'll work with one or a few property managers. Learn more about their experience, expertise, and training.
Look for teams that understand local laws and regulations. They'll ensure your community remains compliant. Their legal expertise can help you avoid fines and lawsuits.
Client Reviews
Look for an HOA management company with a strong reputation. Check online for client reviews. Pay attention to comments about the team's:
- Quality of service
- Professionalism
- Responsiveness
How did the company meet the client's needs and goals? If clients are disappointed with the services they received, keep searching.
Management Services
Look for a full-service HOA management company. Their range of services can help you operate more efficiently. They can help with:
- Accounting and reporting
- Document management
- Assisting board members
- Community communication
- Scheduling events
- Compliance
- Rentals in the HOA community
- Maintenance and inspections
- Collecting HOA feeds
Ask questions about their process for each service. For example, do they use state-of-the-art technology to remain organized? Make sure their services align with your needs.
Request service quotes from three local companies. Ask for a copy of the contract to search for hidden fees.
Vet Association Property Management Companies
Choosing between association property management companies doesn't have to feel confusing. Instead, use these tips to vet your options. Find the best HOA management company based on your unique needs and goals.
Look no further than PMI 23 East. Our team has over 20 years of local association management experience.
Rely on our state-of-the-art technology, proven strategies, and expert team. We can maximize your community's potential. Contact us today for help with your community.
