If you are looking for a home to buy in the US, there is a 20% chance that it is part of a Homeowners Association (HOA). HOAs are bodies that govern and manage properties and residents in their jurisdiction living in planned communities, subdivisions, or condominiums.
The best way to ensure HOAs are properly run and managed is by enlisting the help of homeowner association management companies. These companies bring in the right resources, expertise, and experience to ensure that the association is adequately managed and the members needs are met to their full satisfaction.
But before choosing a homeowners management company, you need to ensure that it is among the best. Below are a few things you should look for in a company before hiring it to manage your HOA.
Services Offered
Nearly all HOA management companies offer maintenance, bookkeeping, financial, administrative, and customer satisfaction services. However, the leading ones will provide additional services such as capital improvement support and long term planning to ensure that their clients are more than just satisfied.
However, the additional services alone are not enough. Make sure that the company gives you a detailed explanation of how they do it. Ask if they respond to after-hours emergency calls, how they handle financial services and who does it, and any other relevant questions you may have.
Compliance with the Current Relevant Laws and Regulations
Is the company complaint with the laws and regulations governing homeowners associations? You surely do not want to be served by a company that is non compliant with state laws and can get you into trouble with the law. What you need is a homeowners association management agency that will make running the HOA smoother, and this also includes their compliance with the law.
Check if the company’s employees are up-to-date with all laws and regulations governing HOAs and that they always adhere to them when delivering their services. A good company will guide your association management and ensure everything you do is by the law. They will do this by leading by example, which means they will also be compliant to the said laws and regulations themselves.
Their History
High-quality services is what you are looking for when hiring a homeowners management company. Otherwise, you would have stuck with your community’s management team and let the members run things. Checking the company’s history will tell you how much experience they’ve gathered during the time they’ve been in business and how well they served their previous customers. Also, go through their portfolio to see the type of HOAs they have served to know if they can manage your association.
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