When selecting an HOA management company, seek one that is trustworthy and has expertise working with comparable communities. HOA management companies are responsible for collecting dues, enforcing rules, and coordinating repairs. As a result, you want to verify that the company is responsive to all of your requests and that you have a solid working rapport with its board of directors.
The Company’s Client History
Look for a company that has extensive experience managing homeowner associations. The company should have a history of satisfied clients willing to provide testimonials. Check their website for pertinent information, including reviews and feedback from previous clients. This includes sites like Better Business Bureau, MSN Money, and Yahoo Finance. They review HOA management companies and help communities connect with ideal HOA management companies.
Contract Terms
Understand the contract terms and what it means to be in good standing. A reputable HOA company should be willing to sign a contract that outlines the scope of its services and the terms of its agreement. This contract should be clear, concise, and in plain language for better understanding. Be sure to read the contract carefully before signing it.
Adaptability
The HOA company you hire should adapt quickly and effectively to changes as they arise. This includes keeping up with the latest technology, laws, and ordinances that impact the community.
Ask promising HOA management companies about their planning cycles and how they seek to stay relevant where change is inevitable. What technologies have they put in place to forecast and analyze looming changes? Which frameworks do they scale to pick the right signals to help understand and harness change?
The right company should be able to experiment quickly, economically, and frequently and reshape its landscape to accommodate any change.
Certificate of Proof
The company you hire should be licensed in Seattle and recognized by the U.S. Department of Housing and Urban Development (HUD). Below are certificates to prioritize:
- Professional Community Managers (PCAM): This certification showcases the ability and knowledge to provide sound planning and development in residential housing and community development.
- Association Management Specialists (AMS): This certificate is administered to managers who have passed the Association Management Society Examinations. It showcases the ability and knowledge to manage HOA organizations and properties on behalf of communities.
- Accredited Association Management Companies (AAMC): This accreditation program is designed for independent association management companies. AAMC-Certified companies meet the highest standards of professionalism required for HOA and cooperatives.
The Company’s Lists of Reliable Vendors
A dependable HOA company should have a list of reliable vendors for repairs and maintenance. Make sure the vendors are all licensed, insured, and bonded to operate in Seattle. The company should be financially stable to provide the services they promise and pay vendors on time. Gauge their financial stability from the copy of their most recent financial statement.
Number of Services the Company Offers
Most HOA management companies have distinct departments working simultaneously to provide their residents with various services. These include:
- Management Services: Includes full-time or part-time managers responsible for enforcing the HOA board’s rules and regulations.
- Maintenance Department: In charge of keeping communal spaces clean and safe for residents.
- Building Maintenance Department: Responsible for scheduling repairs, testing, and replacing common components.
- Rental Management Department: Responsible for creating lease agreements, rental collections, evictions, and all legal tasks.
Most companies provide all these services as one package. You can also ask about their quotation, as it’s possible to hire for a single distinct service.
Cost of Services
Each HOA management has a distinct price tag depending on:
The size of the community they service: The larger a community is, the more likely it is to have higher HOA costs. Large communities have high traffic, increasing the need for frequent maintenance and a large pool of HOA employees.
The age of the community: Senior and retirement communities are more expensive to maintain than those with younger residents.
Duration of services offered: Part-time management is cheaper than full-time or per-diem management.
Working With HOA Management Companies
The most significant part of your search is being prepared to make an informed decision. Use the tips above to curate a list of potential HOA management companies at your disposal. Then, do an intensive background check of each company to choose the best from the list that matches your budget. These companies are masters at supporting and cultivating quality community life; it’s worth finding one that will work best for your area.
