Guidelines on Choosing an HOA Property Management Company
There are numerous property management companies out there, but few of them can offer quality property management services. Additionally, not all of them offer HOA property management services. If you are shopping for such a service provider, it is advisable to invest quality time in research to ensure that you choose a provider that will not let you down. While you can always cancel a contract with a provider that does not deliver, choosing the right one right away saves you the inconvenience and potential losses. Highlighted below are several of the important things to consider when choosing such a service provider.
You should consider the qualifications and experience of your potential provider. Choosing a provider simply because they claim to be good in property management would bie a bad decision. Instead, look for a provider that has a background in business management. A professional that has graduated from a reputable school and one that has been in the industry for long would be safe to work with. Since you can always ask for proof of expertise, you should always consider the number of clients they have worked with. Take note of the feedback they have from their past clients.
What services do they offer? While you should consider experience, you should not assume that the provider offers all the services that you need. Some of the services offered include soliciting vendor agreements and contracts, reviewing property governing documents, helping the committee with member concerns and questions, providing financial reports, budget preparation, reviewing property conditions, property maintenance, among others. If you have unique needs, you should communicate them as early as possible to avoid frustration later. Understand that some providers might list services they do not offer. Confirming that they indeed offer the services they claim to offer is important.
Take note of communication and the number of projects the provider is managing already. Communication is integral because you have to stay updated. Ask regarding the communication platforms the provider supports. Consider how easy it is to get through to the provider. You should also ensure that you will always have the support of a knowledgeable individual and not automated support. Get to know if they would afford you the level of support you need. While being busy is a sign of trustworthiness, a provider with too much on their plate would most likely let you down. A busy provider is also likely to focus on better paying clients.
Take note of their service fees before committing. It is integral to focus on providers willing to discuss their fees from the onset. They should also be willing to discuss what you would be paying for. While most providers have fees listed on their websites, the fees are usually not accurate. You need a provider that would evaluate your needs before mentioning their fees to furnish you with an accurate quote. To avoid confrontations later, you ought to ask for a written contract that highlights service charges. Beware of providers with hidden charges.