From the perspective of time, cost, and efficiency, hiring a community property management firm can be one of the best decisions that your homeowners association (HOA) could ever make.
However, since the decision comes with the result of your HOA entrusting your property management association to such a firm, the decision needs to be made with ample consideration.
Here are a few points to keep in mind while you embark on the process of hiring a community property association firm.
Check The Range of Services That They Provide
Different HOA management firms have a certain range of services that they provide to their clients. Some specialize in finance and accounting, while others boast of expertise in communication management, or liaison between your HOA and third parties such as your staff, your lawyers, and your security company.
Whereas, some community property management firms go a few steps ahead and actually offer to deploy one of their employees as a dedicated point of contact to your HOA. This makes sure that you do not have to run back and forth between personnel at the firm. Instead, you have a single account manager that has all the information about your HOA at their fingertips.
Ideally, you should make sure that the property management firm you are selecting provides all of these services and a selection of even more offerings. This holds true even if you currently only require one or two of these services. This is because if you need additional services in the future, then you won’t have to worry about changing your HOA management company.
Check Their Experience in the Industry
Managing an HOA is no mean feat, and that fact gets even more profound when you are actually handing over your HOA’s day to day affairs to a property management company.
However, you can achieve a certain sense of assurance in the act by entrusting your HOA to an experienced firm instead of one that originated out of nowhere. It is because the more experience that a community property management firm brings to the table, the more efficient it will be in resolving problems and handling your overall HOA management.
Thus, ensure that your selected HOA association management firm has at least a few years of experience under its belt. Doing so will go a long way for your HOA’s long term viability for the associated homeowners.
Make Sure They Are Not Too Costly
This is another point that has to be taken into consideration. Whatever you do, make sure that you are not paying ungodly amounts of fees to your HOA management firm, since high cost doesn’t correlate to a high quality of service in this segment.
Instead, make sure that your selected property management company has a competitive quote for its services. You may make sure of this by doing a market survey of fees by other HOA management firms in your area.
And if you are in Colorado, then make sure to give ACCU, Inc. a call. As an HOA management firm that has over 37 years of experience and offers a wide variety of services, ACCU, Inc. can fulfill all of the aforementioned and logical requirements with a significant level of ease.