There are many choices when it comes to association management companies. While finding the right company for your community may seem challenging, we’re here to make it easier. Here are the main aspects you should look at when considering a management company:
How long has the company been in business?
The management of your association can directly impact the property values in your community so it is important to engage a qualified and experienced management company. If a company has been in the business for a while, they will be able to provide more references, quality vendors, and a high level of confidence in their abilities.
What is the average tenure of the Community Association Managers?
Experienced managers that hold professional designations bring a higher level of professionalism to the position. They have the knowledge, dedication, and commitment to their industry and will be both a benefit to community and a resource to the boards in which they serve.
Does the company participate in education for both employees and board members?
Reputable management companies invest in and provide education and training for both their employees and the board members in which they serve. It should be the management company’s priority to provide educated, professional and accurate training, advice and guidance on important issues relating to Association Management to their board members.
What services does the company offer?
It is important that the management company offers the services needed for your community. Understand what type of company, their mission and values and make sure you know what services are included prior to signing the contract.
Can you visit their office?
Being able to visit your community association management can be a relief. It provides a higher level of connection and allows you to gather insight about the company and how they are able to meet your community’s needs. Your management company will effectively be part of your team and getting to know them and the culture of the company can make the difference between a decent experience and a great one.
How do they manage associations similar to yours?
Any management company should be able to provide names of HOA and condo associations they manage as well as specific references you can contact. These communities should be well-run and similar in size and type as your community. If your community is unique in many ways, find out what they will be able to do specifically for the quirks in your community.
What is their communication style?
Clear communications between the board and the management company is the basis for a productive and successful relationship. Ask about responsiveness, find out if they have any additional support teams, and how the management company typically communicates with the board to determine if this will meet your expectations. Make sure to get any necessary contact information to make it easy for your residents to know who to call.
Final Thoughts
Finding a good fit for your community can be a rewarding venture. Make sure to go into the meeting expressing the expectations and priorities of the board and any and all requirements you will have. In your initial meeting, have these main aspects in mind and you will have an easier time determining the capabilities as well as the “personality” of the management company and identify if they would be a good choice for your community.
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