Does your HOA board struggle to remain compliant with recent laws and regulations? Maybe board members are uncomfortable asking friends for delinquent funds. If your volunteers feel stressed, it could affect their mental and physical health.
With help from an association management company, you can ensure your community's success without stress. Not sure how to choose between association management companies?
Read on to discover the factors you need to consider for an effective search!
Experience and Expertise
While there are over 296,000 property management businesses in the US, some teams have more experience than others. Determine how long each team has worked in the industry. They can leverage their experience aiding other associations to help your community.
Look for companies that specialize in helping HOA organizations. Ask how many clients they're currently serving. If they have too many clients at once, they may neglect your community.
Most states require association management companies to have a license. Confirm the company's license is active.
Ask about the property manager who will serve your community. Working with a dedicated manager can save you time and avoid communication. Learn about their experience, expertise, and training.
HOA Services
The 2.5 million community association board and committee members in the US dedicate 98.5 million hours to volunteering. What tasks take up the bulk of your volunteers' time?
Talk to your HOA members to determine where your community needs help. Look for HOA services that align with your needs, concerns, and goals. These services may include:
- Board member assistance
- Community communication
- Assessment collection
- Event coordination
- Accounting and reporting
- Inspections and compliance
- Document management
- Maintenance
Look for a full-service association management company. Regardless of the help you need, you'll have peace of mind knowing you can call one company.
Ask the company if they'll tailor their services based on your community's needs. These companies care about their clients over their bottom line. They'll work with you to develop a plan that will benefit your community.
Reputation
Read online client reviews for each company on your list. Check their BBB profile and Google Business listing. Read multiple reviews from each site.
Look for comments about the company's responsiveness. If multiple clients struggle to reach their property manager, keep searching. Choose a company that will remain responsive and transparent.
Price and Contract
Ask each company about their pricing structure. Confirm their services suit your HOA's budget. Don't fall for the trap of choosing the cheapest HOA services.
Instead, compare prices with value. Prioritize finding a company that can help your community succeed long-term. Ask each company how they plan to improve the community's property values.
Compare the length of each contract before signing an agreement.
Vet Association Management Companies
Don't choose one of the first association management companies you find. Instead, use these tips to thoroughly vet your options. Choose a company that will offer high-quality HOA services that align with your needs.
They'll help your community grow. Want to streamline your search?
PMI Birmingham Region has nearly 20 years of industry experience. We custom-tailor our services to meet each association's specific needs. Contact us to discover how we can maximize your homeowner profitability!
