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About 27% of US citizens live in a community with an HOA.
If your neighborhood has an HOA, they probably do a lot to keep the area organized and in good condition. They may not be able to handle everything themselves, however. If this is the case, hiring a property management company could be the best move.
Keep reading for three key things to look for when choosing an HOA property management company.
1. Make Sure They Offer Specific Administrative Services
There are plenty of HOA management companies out there, and they're not all the same. While they share the same overarching goals, the services they offer can vary. Make sure you go with an HOA management company that provides the services you need.
Some typical expectations you may have of them include:
- Financial administration
- Providing maintenance reports
- Communicating with residents
- Organizing vendors
If they're unable to do what you need, it can cause issues. If residents have trouble communicating with them, for example, it can lead to dissatisfied homeowners.
When it comes to vendors, HOA management companies typically have good networks in place. They should always be able to find a suitable vendor for whatever your community needs. If a company can't do this, it may not be the best one to work with.
2. Look At Their Experience
An HOA manager might come across as reliable and knowledgeable, but it's always best to be certain of this. You should look into their experience to get an idea of the work they've done before.
A company without much experience might not necessarily be a bad choice, but you may be taking a risk. Challenges could arise that they've not had to deal with before, so they might not always make the best decisions.
It's best to look for one that has a proven track record of helping various communities flourish. This will ensure they have what it takes to support your HOA board and your community as a whole.
3. Review Their Site Management Strategy
Site management is one of the key responsibilities of an HOA management company. It's also something that homeowners often find issues with.
Through effective site management, a company will review both common areas and individual homes to determine if they're in need of maintenance or updates. People often like to live in a place where they can make a home their own. At the same time, uniformity between homes in a neighborhood helps keep property values up.
It's best to find a management company that has a balanced strategy. This should apply to all owners equally to keep things fair.
The Right HOA Property Management Company For Your Community
Finding the right HOA property management company isn't easy, but it's worth taking your time. If you can find one that fits your community perfectly, they'll produce results that residents will be happy with.
PMI Utah is a professional property management business based in Lehi, Utah. We offer HOA management services that could be perfect for your neighborhood. Take a look at our Association Management page to find out more.
