One of the key functions of a homeowners association (HOA) management company is to provide its members with opportunities to voice their concerns and make positive changes in their communities. It’s important to choose the right management company from the start so that you can benefit from these opportunities—and so that the management company can help make your community better for all its members. Here are some qualities to look for in a top-notch HOA management company.
Experience
The most obvious requirement for your HOA management company is years of experience. Don’t just take their word for it; ask how long they’ve been in business and how many HOAs they currently manage. You should also be sure that they are members of professional organizations like AMCA (American Managers & Cost Accountants), AAMC (Association of Apartment Marketing Counsel), or NAAO (National Association of Apartment Owners). These groups require strict educational requirements, high ethical standards, and ongoing training for their members. They also provide members with networking opportunities and local support—which is invaluable when you’re starting a new venture.
Transparency
Good managers and HOA companies should be honest and up-front about everything—including their fees. When you’re researching HOA management companies, ask them exactly how they are compensated, who they report to, what types of services they offer, what you get with your membership fee, and so on. And be sure to inquire about—and take a close look at—the company's business practices as well. You want a company that takes pride in customer service and will work hard for you. If a manager or company has been in business for quite some time but doesn't really have any testimonials or success stories from clients available online (or if its website is difficult to navigate), it may not be one that puts your needs first.
Honesty
If there’s one thing you should look for in a HOA management company, it’s honesty. Be upfront with your representative from day one and set clear expectations about everything from communication to fees, maintenance and any other pertinent details related to your association. If a representative is willing to talk about everything up front (and answer your questions without sugarcoating), that can be a good sign of an honest business. It’s best if they also show you examples of past work when applicable. Don’t forget: keeping an open line of communication is important throughout all stages of working with an HOA management company so that everyone involved is on the same page and understands what needs to happen next.
Communication Skills
You want an HOA management company that is responsive and easily reachable. If you can't get a hold of your HOA management company when there's an issue, then how are they going to fix it? Also, check out how long it takes them to respond when they do reach out. If they're not taking care of business or responding appropriately, then what happens in a true emergency? Look for an HOA management company with strong communication skills. This will help make living in your community much more enjoyable and pleasant.
Cost Effectiveness
Hiring a professional HOA management company doesn’t come cheap. Expect to pay $10–20 per unit per month, depending on factors like your location and property size. But make sure you’re getting what you pay for—the quality of an association can vary widely from one community to another, so find out how a prospective company has handled issues in other associations before entrusting it with yours. If you're worried about costs, check if your city or state offers financial incentives for hiring a management company, including paying back a portion of association fees over time if they are more than normal fees paid by owners who manage their own boards independently.
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