Outsourcing Your HOA Management
Posted on: 13 September 2016
Being part of a community that is governed by a homeowners association (HOA) has its benefits. The association can arrange for basic services like landscaping and snow removal, and you can take advantage of the collective bargaining power that exists when homeowners band together to secure contract services like Internet connectivity and cable television packages. Managing an HOA can be challenging, and it can serve as a source of contention between neighbors.
Outsourcing your HOA management is a simple way to ensure that a neutral entity governs the HOA and that business matters are attended to in a professional and timely manner. Here are three tips to keep in mind as you evaluate potential association management companies to take over the management of your HOA in the future.
1. Accreditation
The decisions made by an HOA management group can have an impact on your daily life. You will want to ensure that the company you hire to outsource your HOA management has the training and integrity needed to make sound decisions.
One of the easiest ways to evaluate a company's ability to successfully manage your HOA is to check for the proper accreditation. Association management companies that are accredited through Community Association Institute will have the training and knowledge required to manage your HOA in the best way possible.
2. Values
Because the decisions made by an HOA contribute to the overall culture of a neighborhood, it's important that any company you hire to outsource your HOA management duties shares the same values as the property owners within your HOA.
The potential for shared values can be assessed by requesting a proposal from each association management company you are considering and by checking each company's website and media record for evidence of shared values. Partnering with a company that is dedicated to promoting the same values as your community will help ensure that your neighborhood retains its unique identity.
3. Affordability
Many of the property owners within your HOA are likely trying to live within a defined budget. In order for any HOA to be successful, it needs access to the financial resources required for day-to-day operations.
In order to ensure that outsourcing your association management is beneficial, you should seek out the most affordable company in your area. Partnering with an affordable company will prevent any serious increases in HOA fees, allowing property owners to feel confident in their ability to pay for outsourced HOA services in the future.
There are many benefits to be obtained by outsourcing your HOA management. Be sure you partner with the right association management company by looking for evidence of accreditation, shared values, and affordability. Check out a company like Duval Realty Inc. to get started.
Share