About 73.9 million Americans (27% of the US population) live in community associations. However, 19% of homeowners say their experience living in an association is only "neutral." With help, you can improve resident satisfaction rates and property values.
There are thousands of association management companies to choose from, though. To streamline your search, use these tips. Find the best manager for your HOA community today.
Your HOA Goals
Before researching property management companies, consider your community's unique needs. What problems have your HOA board or volunteers faced alone in the past? Perhaps they need help with:
- Financial oversight
- Event management
- Increasing attendance at meetings
- Improving property values
Outlining your goals can help you determine needs versus wants. One association management company may not meet all your needs. However, they may meet a majority of the items on both lists.
When vetting companies, ask how they'll help you accomplish each goal. The company shouldn't use a cookie-cutter approach. Instead, they should consider your unique community.
Try to find a full-service management company. Their services may include:
- Financial management
- Maintenance and building management
- Board member assistance
- Assessment collection
- Community communication
- Scheduling
- Accounting and reporting
- Document management
- Compliance and inspections
- Administrative management
Choose a company that will cater its strategies based on your needs. These companies are more likely to help you accomplish your goals. They won't waste your time and money on unnecessary endeavors.
HOA Community Management Experience
While there are 296,477 property management businesses in the US, not all of them have managed HOAs. Determine how long each company on your list has offered services in Colorado Springs. Their local experience will ensure you adhere to housing regulations.
A long-running association management company won't disappear overnight. Instead, they'll leverage their experience to your benefit.
Established businesses often have processes in place. They know which strategies work to accomplish different goals.
Determine if the company uses professional connections with contractors. They could help you save money by leveraging their connections.
Ask if they use property management software. For example, they may give homeowners access to an online portal. This can streamline communications, fee collection, and other tasks.
Determine if you'll work with a dedicated property manager. If so, learn about their experience and expertise. Check their credentials to confirm that they're qualified.
Glowing Reviews
Choose an HOA community management company that has a glowing reputation. Ask three companies for references from other HOAs. Consider asking their clients:
- Is your property manager experienced?
- What services do they offer?
- Are they responsive?
- Have you encountered problems?
This will help you find a reliable association manager. If their manager is difficult to reach, continue your search. The company should stake its reputation on its services.
Start Vetting Association Management Companies
Screening multiple association management companies can feel daunting. Instead, simplify your search. Choose our team at PMI Pikes Peak.
We have 20 years of property management experience as part of the number one management franchise in the US. Clients trust our expertise, state-of-the-art technology, and award-winning strategies. Contact us today for help with your HOA community.
