Steps to consider when selecting an HOA Management Company for your community

Steps to consider when selecting an HOA Management Company for your community

The goal of an HOA property manager should be to maintain the current value and improve upon the value of the homes in the HOA area. Not all HOA property management companies provide the same services, so it's important to choose the best company for the job.

Step 1

Review the services provided by local HOA property management companies. Some property management companies are all inclusive on their services for the price you pay. Other companies have strict guidelines as to what you get for your money. Ask if the cost is all inclusive or if you're charged per item or extension of time.

Step 2

Look for property management companies with experience. The company you hire should be able to oversee projects, solicit bids for improvements or work done and facilitate communication between home owners, the board and their company. Find out if the billing is done in house or outsourced. You also want to find a property management company that understands insurance and risk management and continues education to stay current on laws and regulations.

Step 3

Check the level of involvement. Some HOA property management companies wait until they receive complaints from home owners before addressing problems. Other companies drive or walk the area on a regular basis to check for home owner compliance. A representative of the company should be present at all board meetings and at meetings for home owners regarding the HOA. Find out if the company hosts community involvement like neighborhood parades, block parties or other events for the home owners.

Step 4

Meet with representatives of the property management company. Schedule a time to ask questions and address concerns. Interview the companies like you would an employee. Consider how easy it is to get in contact with the company on a daily basis and what the emergency contact options are.

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