1. They meet your needs
The first step in hiring the right HOA management company is KNOWING WHAT YOUR NEEDS ARE. This way, you know what to look for in a company.
Before starting your search, schedule a meeting with the rest of the board and discuss this matter together. List down all the tasks you’re looking to outsource, as well as the culture and values that you wish to share with your ideal HOA company.
The following are the common services HOA management companies are hired for:
- Property management
- Administration services
- Financial services
- Customer service
Services offered differ from company to company, so make sure to find one that has everything you need.
2. They have licenses and certifications
Before hiring an HOA management company, you’d want to know what licenses and certifications they have. Some states require HOA management companies to have a license, so check if your state does.
Next, find out if the company is affiliated with the Community Associations Institute (CAI). This ensures that the company you’re considering to hire follows the laws, requirements, and best practices in successfully managing HOAs.
Common certifications are:
- Professional Community Association Manager (PCAM)
- Certified Manager of Community Associations (CMCA)
- Accredited Association Management Company (AAMC)
- Association Management Specialist (AMS)
3. They have great customer reviews
Find out what other clients are saying about your candidates. A quick search on the Internet and you’ll already find ratings and reviews on the HOA management companies you’re considering. Focus especially on recent reviews which are relevant and up-to-date.
Another way of getting reviews is by asking for referrals. If you ask your personal network, chances are, at least one of them lives in an HOA community that’s different from yours. Ask them who their HOA management company is and how their experience has been. You may find a great candidate by referral.
4. They are responsive and reliable
Because you’re outsourcing most of the management of your HOA to a third party, it’s important to have open and reliable communication with your HOA manager.
A good HOA management company is responsive and returns calls and emails promptly. Ask if they have a 24/7 answering service, if your board can access financial records at a moment’s notice, and if they are available when emergencies happen.
A good HOA management company also has excellent follow-through. They deal with requests quickly and effectively, and projects are completed on time.
Importantly, ask how frequent an HOA manager will be on-site, visiting your community. If you require more in-person presence from the company, say so.
5. They offer good value for money
Although the price is an important consideration, keeping the community in its best condition should be every board’s top priority.
If a more affordable choice means cutting corners, it’s better to go with a pricier HOA management company with a track record of excellent service. Not only will they help the board run the HOA smoothly and effectively, but also all homeowners will benefit from their superb maintenance of the community now and for years to come.
Photso by John Schnobrich and Magnet.me on Unsplash