Around 74 million Americans live in homeowners associations, but not all of them are pleased about it.
A lot of associations have issues that prevent homeowners from experiencing any of the benefits that HOAs should provide. It's for that reason that HOA management services exist, but with thousands of these companies operating around the country, how do you choose the right one for your HOA?
In today's post, we'll give you five top tips for selecting a community association management company to help your HOA. Once you've got the right HOA manager in place, you'll experience a wide variety of property management benefits. Keep reading and learn what to look for in HOA management.
1. Check Credentials
The first step in association management selection is a credential check. You need to make sure your HOA manager has the qualifications to handle everything your HOA will throw at them.
While Massachusetts doesn't require property managers to have any specific credentials, there are certain things you can look for to determine their expertise. For example, membership in the NARPM demonstrates that they hold themselves to a certain professional standard.
2. Look at Portfolio
The next thing to do is look at their portfolio of other HOA clients. If they offer the right neighborhood efficiency solutions, they'll have already helped transform other homeowners associations in the Winston-Salem area.
All you need to do is ask what other associations they're currently managing, then you can perform independent research to determine whether or not those communities are thriving. A telltale sign of HOA health is property values. Well-run HOAs have property values as much as 4% higher than other homes outside the community.
3. Speak to Other HOA Members
While you're looking into the health of surrounding HOAs, you can even try to speak to some of their members. You'll never get more important information about the quality of HOA management than from an association resident.
Find out what their HOA manager does for them. More importantly, however, you should find out if any issues might prevent you from selecting a particular HOA manager. Governance issues, unorganized meetings, and high HOA fees are a telltale signs that the management isn't doing its job.
4. Needs Versus Offerings
Look at what the HOA manager's services are and think about what your community needs most. Often, the most important things a community needs help with are accounting, enforcing governing documents, running better meetings, and vendor coordination.
5. Ask About Fees
The last thing to look into is HOA management fees. As an HOA homeowner, you're already paying your HOA dues to experience the benefits of HOA living.
You shouldn't have to break the bank to experience high-quality HOA management. Good companies, like PMI of the Triad, make it affordable and simple to get the best management for your association.
Hire the Top Community Association Management Company in Winston-Salem
These community management tips will help you find the top community association management company nearby. For those in Winston-Salem, the only choice to make is PMI of the Triad.
As part of the nation's largest group of high-end property managers, we offer all of the services you need to make your community thrive. Contact us today to learn more about us and how we can help your HOA.
