There are close to 400,000 HOAs throughout America.
This means selecting the right association management company is vital. Your community needs stellar management to flourish.
Finding your ideal association manager involves careful consideration. Read on for the steps to find the ideal association management company for your needs.
Assess Your Association Management Needs
Before you begin your search, reflect inward. Take a moment to assess your association's specific needs and goals. Consider these factors:
- The size of your community
- Your budget
- The services you need
This initial assessment will serve as a foundation for your search.
Seek Recommendations for Association Management Companies
Start by asking for recommendations from fellow association members. Friends and colleagues could also have experience with association management companies.
Check Association Managers' Credentials
Verify that the association management companies you're considering are accredited in New York. Associations that belong to professional organizations often adhere to higher standards. They're professional and talented.
Interview Association Community Management Companies
Reach out to several association management companies. Schedule interviews or consultations. During these meetings, ask about the following:
- Their experience working with associations like yours
- Their approach to financial management
- The services they provide
Request References
Ask for references from the association management companies you're considering. You can learn about the following:
- The company's responsiveness
- Transparency
- Ability to meet the association's needs
Review Contracts and Fees
Review the HOA contracts and fee structures from each company. Ensure that their pricing aligns with your HOA budget. Have a clear understanding of what's included in their management services.
Assess Communication
Effective communication is essential in association management. Assess how well each company communicates with you during the selection process. Responsiveness and transparency are indicators of good communication practices.
Assess Technology and Tools
Technology plays a huge role in association management. Ask about the software, tools, and platforms the company uses. This will do the following:
- Streamline operations
- Facilitate communication
- Provide financial transparency
Visit Current Client Properties
If possible, arrange visits to properties managed by the companies you're considering. This firsthand experience can give you a sense of their maintenance standards. You'll know about their whole performance in managing communities.
Assess the Team
Assess the expertise and professionalism of the team members. You need to get along with people who will be involved.
Review Contracts Well
Ensure that all your expectations are outlined. Everything you need should be clear in the agreement. Seek legal counsel if needed to protect your association's interests.
Trust Your Instincts
Choose the association management company you have a good feeling about. They should align with the following:
- Your association's goals
- Values
- Needs
You need a good fit in terms of communication. Their approach and expertise are vital for a successful partnership.
Do You Need Help With Association Management?
Finding the best association management company can be tough. You have to take your time. Using these HOA tips will keep everything in order.
Would you like association management services in the New York, New York area? Contact PMI Manhattan Group to hear more.
