Many HOA boards rely on outside management to help keep their community running smoothly. For board members, fulfilling their many duties and responsibilities is no small task – and neither is choosing an HOA management company!
Not sure what to focus on when shopping around? Here are the top 20 questions that should be asked of any potential management company to ensure that they are the right professionals for the job:
- How long have you been in business?
This will tell you what kind of experience the company has and how seasoned they are in dealing with the day-to-day operations and big-picture matters of HOAs.
- How many properties/communities do you manage?
While you want your management company to have experience, you don’t want your manager to be overloaded with properties and pulled in too many different directions.
- What do you charge for your services?
It seems like an obvious question, but it’s important to understand exactly how and when you will be billed for management services.
- What services do you offer?
Different companies offer different services. Be sure to have a clear understanding of what your fee will include and that the services offered will fulfill the needs of your board and community.
- Is a website included?
An HOA website can streamline routine processes, as well as foster a sense of community. Websites should include account portals for residents and access to board reports.
- What support does the property manager have?
The management company shouldn’t be a one-man show, but rather a cohesive team of professionals dedicated to serving your HOA.
- When can we reach you?
Community managers should be available by phone or email during the day and via an answering service in the event of an emergency.
- How often do you inspect the community?
Community inspection should be performed regularly for violations, and the community manager available for questions from board members.
- How do you track maintenance projects?
Hopefully, your management company uses a digital tracking system to automate processes and monitor maintenance projects. This will streamline any needed maintenance by tracking work requests, scheduled maintenance, and inventory.
- How do you handle unexpected maintenance issues?
In the event of an emergency or natural disaster, your management company should have a plan in place. They must be equipped with the knowledge and resources to navigate any situation.
- Who are your vendors?
You’ll want a management company that obtains multiple quotes from qualified and trusted vendors to ensure jobs are completed well, and in a timely manner.
- How will you update board members?
Good management companies provide continued educational opportunities for board members to stay up-to-date on HOA-related matters.
- How does your finance management work?
Finances are often the most stressful and burdensome task for an HOA board. Find out how the management company’s team handles billing, delinquencies, and other financial matters.
- Do you have references?
Ask for a list of references, including HOA board members with whom the company has previously worked. Look online for honest reviews from past customers.
- How long does your company take to respond to calls and emails?
In addition to providing a phone number in case of emergencies, a management company should respond promptly to all other communication, ideally within 24 hours.
- What are the community manager’s qualifications?
Although they’ll have a team for support, you’ll be working most closely with your assigned community manager. Find out who they are and what experience they have before making a commitment.
- What is your mission statement?
Although not all companies will have one, a mission statement can give you a good idea of what kind of company you’ll be working with. Mission statements can be a good indication that they put more care and dedication into their services.
- Does a company inspect lots before transfer from one homeowner to another?
After a title company submits an escrow request, and before the transfer, a coordinator should visit the property and disclose any violations to the title company.
- Do you offer any additional programs?
A management company that offers supplementary programs can be especially effective in the growth and success of any community.
- How are you different from other management companies?
There’s no shortage of options when it comes to HOA management companies; be sure to give your prospect a chance to tell you what sets them apart from the rest.
Are you in the market for a new HOA management company? At SpectrumAM, we’re dedicated to helping communities rise above the status quo with superior, refreshingly different management.