Partnering with a reputable property management company can make a significant difference in your HOA. Property managers are skilled at organizing and streamlining operations, staying abreast of community needs, responding to member questions or concerns, dealing with vendors, and providing guidance and insight for decision making, just to name a few things. They can take some of the stress off of the Board and allow them to focus on more pressing issues that cannot be delegated.
But it is important to select a property management company that is a good fit for your HOA. Here are a few things to keep in mind:
Plan ahead. Before contacting any companies, consider what your association is looking for. Do you need help with finances? Meeting planning? Collecting payments? Enforcing rules? Sourcing vendors? Have an idea of what areas the HOA would like more support in so that the Board can prepare more effectively for interviews.
Do your research. There are hundreds of property management companies throughout the United States and probably several that serve your specific area. Review their websites and consult client feedback. Check out what services they offer. See what other communities they support. Select two to four that the board would like to meet with and learn more about instead of blindly picking one.
Ask questions. Listen to their presentation and questions, but also ask a variety of questions of your own that cover not just your community and its needs, but also the property management company. How long have they been in business? How many communities do they work with? What type of training, certifications, or licenses do they have? Get to know the property manager you would potentially be working with and ensure it’s someone you feel confident and comfortable with their abilities.
Compare options. It’s not just about price and who is the cheapest or most expensive. Consider how attentive the company was to learning more about the HOA’s needs and how they can help. What services could they provide and was anything missing? Were they able to easily and confidently answer questions? Narrow down your options and go with the organization that best fit with what the HOA was looking for and seemed invested in its well-being, not just making a sale.
Kuester Management Group works with associations throughout the Carolinas to provide comprehensive, knowledgeable service and support that helps HOAs to thrive and operate more effectively and efficiently. If you’re considering partnering with a property management company, contact Kuester today to find out how we can help.