There is almost no difference between running a business and a homeowners’ association. HOAs are usually managed by residents, who are also board members and in charge of making key decisions. While the board would always want to retain its control and rights, hiring a professional property management company could be a great step. Flagstaff HOA management companies have worked for many communities, and with so many options around, how can an HOA make the right choice? We have a few pointers below for your help.
Start with the requirements
The board members of an HOA need to start with what they expect in terms of services from a property management company. Try answering questions like –
- Does the HOA only need maintenance-related assistance?
- Is it important for a manager to be at the property at all times?
- How much can the HOA afford to spend on outsourced property management?
Look for experience
Once your HOA knows what they expect from the outsourced partner, the next step is to look for experience. Not all property management companies work for HOAs in Flagstaff, and that’s something to consider. When the board interviews potential companies, questions should include –
- How experienced is your company in HOA property management?
- How many communities do you manage in Flagstaff right now?
- Will you assign a dedicated manager for our community?
- Do you have a steady list of vendors and contractors?
- Do you offer legal support for HOAs when needed?
- How much do you know about accounting and tax planning?
- How quickly can you give us an estimate?
An HOA property management company may offer many things, but are they able to tweak their services for the needs of your HOA? That’s an important question that matters. You need a company that’s flexible and only charges you for the work done. Don’t choose a service that’s trying to sell a package, but opt for one that can offer bespoke solutions.
It takes the board and a good HOA management company to run the association together. If that means paying a tad more for the right service, it is wise to do so. Keep in mind that residents would eventually enjoy the benefits of outsourcing, and for the board, it is all about focusing on key issues and pressing matters. Outsourcing HOA management comes at a cost, but that price justifies the kind of work that professional services do. You can find local services online.