The process for researching a new HOA property management group can be time consuming and confusing. There should be a clarity in the needs of the association and a plan of action. Several managers have to be interviewed by the HOA board before a final decision can be made.
There is a whole list of qualified HOA property management companies to choose from. A good example is City Property Management Company. There are also learning resources and research tips to make sure that only the best firm is selected. The following are tips to be considered in the research process to help HOA boards make an informed decision.
Needs Assessment & Setting of Criteria
The only way to conduct good research is understanding the issue at hand and the needs that should be addressed. HOA boards should first identify the needs of the association and that of the board.
The board should be familiar with the governing documents and have a clear understanding of the roles to be played by the management company, the board and the members. Have a clear outline of what the management company is expected to do. However, the actions of the association and decision making should be directly in the hands of the board. Knowing the needs of the HOA will make the research process more focused.
Allocating the Research Work to a Specific Person
The best way for ensuring fast and accurate results is through allocating the work to specific person such as a committee member. The individual selected should also be given clear instructions on the deliverables and the expected date of reporting. The individual should then proceed to narrow down to the search results and filter according to the needs of the HOA. The board can then go through the results presented to them and select the best candidates.
Setting Deadlines for the Process
With a clear set of goals and a plan, the process will remain focused and on track. Deadlines should be set for research and information gathering, bids submission, oral interviews, visitations, follow-up interviews, and the awarding of the contract to the chosen company. Once a decision has been made, the chosen company should be given ample time to set up their systems.
Local property management companies offer different services for different fees. Therefore, it is good to make a comparison of the services offered and then make a decision based on the HOA documents and the needs of the community. Consider the fees charged if they are worth the services offered. It is also good to look into the level of management offered by the company. Some companies spend time on-site regularly and address emerging issues immediately. Others wait until complaints have been made to start addressing them.
Look for a Company with Experience, Competence & Character
Research about the history of the company and the number of years they have been in business. Take time to gain awareness of the company. The values they represent should mirror the culture and value of the community.
Finding a new HOA property management group requires time and effort from the board. However, the HOA deserves a company that is going to deliver the best services and performance offered at the best price for a long term working relationship.
City Property Management
4645 E Cotton Gin Loop
Phoenix, AZ 85040