Is your association planning to hire professional management? Whatever the reason for this may be, it’s important to choose a company that’s right for your community. But what to look for in an HOA management company? Here are qualities of the best HOA management companies that can aid in your search process.
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Which Qualities Do the Best HOA Management Companies Have?
What separates average HOA management companies from the best? These seven qualities will show you what it means to work with a top-notch HOA management company.
1 and 2. Educated and Experienced
The best HOA management companies are educated and experienced. These two qualities go hand in hand; they’re also both necessary for a management company to provide essential services properly and effectively.
Make sure to choose a company that is adept at the different aspects of community association management such as general administration, maintenance, finance, insurance, strategic planning, and communications. The company’s HOA manager should also have proper licenses and certifications, preferably by established organizations such as the Community Associations Institute (CAI).
Backed by years of experience, as well as proper education and training, a top HOA management company will be able to implement strategies that will help your community grow and succeed.
3. Attention to Detail
Attention to detail is one of the top qualities of an HOA management company. Since they will be handling HOA operations, it’s important to have a management team that is thorough and efficient.
Their attention to detail will ensure that all paperwork is always double-checked, updated, and stored securely. The best management companies also create checklists, schedules, and maintenance plans to make sure that the HOA is operating smoothly each day.
With good attention to detail, HOA management can also easily spot minor issues and address them before they lead to significant damage. As a result, HOA management’s proactive approach can help your HOA save money in the long run.
4. Effective Communicators
The top HOA management companies are also effective communicators. This is because communication is a crucial element of successful association management.
HOA management companies should be able to keep an open line of communication with board members, employees, vendors, and homeowners. If there is a communication breakdown with HOA management, it will be very difficult to accomplish tasks, meet deadlines, and stay on budget — which will significantly impact your operations.
Choose an HOA management company that knows how to communicate well. They should be able to explain HOA tasks and responsibilities well, delegate tasks effectively, train board members, provide proper and timely feedback, mediate disputes between homeowners, and so on. With a company like this, the association management company fees will be worth it.
5. Passionate About Work
A lot of people have a negative impression of HOA management companies. They seem to think that these companies are all about collecting fees, creating restrictions, and imposing fines.
For many companies, this may be the case. However, the best HOA management companies are different because they are passionate about their work. They have genuine care and concern for the well-being of their homeowners and the community at large.
It’ll be easy to tell if an HOA management company is passionate; it’ll show through their actions. They will reach out to community members and patiently listen to their concerns.
HOA management will also ask for feedback to improve the service they provide to the community. Aim to find a management team that takes pride in your community and is just as happy to celebrate your HOA’s accomplishments.
6. Adaptable to Change
A stagnant community with dated operations will not attract new homebuyers. As such, it’s important to choose an HOA management company that keeps up with the latest market trends and knows how to adjust to these changes. Adaptability is a very desirable quality in an HOA management company because it will ensure that your community is always growing.
HOA management companies should also know how to use technology effectively as these can also lead to more efficient operations. For instance, HOA software with online payment channels makes it easier for associations to keep track of their finances.
It’s more convenient for homeowners as well. They can also use digital marketing strategies, such as website content and social media, to increase your HOA’s visibility and enhance its reputation.
7. Great at Customer Service
An HOA management company may have the most or all the top qualities but without customer service, they won’t be as effective. They are also less likely to have a loyal customer base. The best HOA management companies know the importance of delivering excellent customer service. They make an effort to create a positive work environment, which helps foster longer-lasting relationships with their clients.
Look for an HOA management company that pays attention to both board members and homeowners, handles your concerns in a timely manner, and can anticipate future issues.
HOA managers should remain professional and respectful even if they are dealing with irate homeowners or unreasonable demands. With great customer service, your management team will feel like part of the community — rather than just a third-party vendor that delivers services.
How to Select Community Management for Your HOA
Knowing the top qualities to look for in an HOA management company is one thing, but finding one that exhibits these qualities is a whole other issue. Hiring a management company can be a tedious process. To help with your search, here are the basic steps for selecting the best HOA management company for your community.
1. Form a Dedicated Search Committee
While you and your fellow board members can conduct the search yourselves, it will be much faster if you enlist the volunteer homeowners. Choose committee members that have a good grasp of the association and its needs. If possible, recruit homeowners with areas of expertise like law, finance, and maintenance.
2. Decide on the Specifics
Next, the committee must decide on bidding specifications. Take a close look at your annual budget to see how much you can allocate for professional HOA management services.
Discuss what level of service your HOA needs. Some communities need full-service management while for others, a remote management company is more than enough. An in-depth analysis of your community’s needs and finances will make it easier to create a shortlist of potential HOA management companies.
3. Send Out RFPs
Once you have narrowed down your list of candidates, it’s time to create and send out requests for proposals (RFPs). This document details everything your HOA is looking for in a management company—including how much you expect to pay and references or credentials worth noting.
The purpose of an RFP is to make all submissions uniform and eliminate bias. This way, you can conduct a fair comparison among candidates. Include a deadline for submissions so that you’ll receive all proposals in a timely manner.
4. Evaluate Based on Criteria
During the evaluation process, decide on which aspects are more important than others. You can use a point system for this portion. Some HOAs will place more importance on the quality of services over costs while others may evaluate services and fees separately. Evaluating based on your criteria helps eliminate candidates and leave only the ones that meet your needs.
5. Conduct Interviews
Conduct a 90-minute interview with your potential HOA management companies. Having a longer time to talk will reveal a company’s HOA knowledge and experience beyond the simple questions you have prepared.
It will also give companies the chance to detail what they can bring to the table and what makes them different from the rest. Conducting a thorough interview allows you to evaluate candidates on a more personal level.
6. Take Your Pick and Monitor Closely
After a thorough search and evaluation process, it’s time to pick your HOA management company. If you find one that has the seven qualities of the best HOA management companies, the choice will be very easy to make.
Create an HOA management contract and have your attorney look at it before finalizing the deal. After hiring the company of your choice, make sure to monitor their performance to ensure high-quality service.
Finding the Right Partner Among the Best HOA Management Companies
HOA management isn’t an easy task. It takes a lot of time, effort, and expertise to carry out well. As such, it’s essential to find and pick an HOA management company that can provide the services and guidance that your association needs.
With so many choices, though, the search process can be quite tedious. For faster results, make sure to look for the seven qualities of the best HOA management companies. With these qualities in mind, we guarantee that you’ll find the perfect partner for your HOA community.
If you need further assistance, feel free to use our online directory for a list of HOA management companies. This HOA database will make it easier to choose among the best HOA management companies in your area.
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