It is essential to choose an HOA management company that will best serve the needs of your community. But with so many phoenix HOA management companies out there, how do you know who to hire? Choosing the wrong company can result in significant financial losses, frustrations with your community and leadership, and even a potential risk to your community’s security. To avoid these costly mistakes, consider the following questions before choosing an HOA management company.
- What are the services they provide?
You should have a detailed look into the services that the HOA management company will provide to your community. This may require them to provide a full-time or part-time onsite manager for your HOA, set up a meeting for your board members, protect and maintain the HOA’s records, and give you regular reports on your community’s operations.
- What is the management company’s business history like?
This is one of the most important questions that you should ask an HOA management company. Businesses are not immune to making mistakes and incurring losses. But a good business should be able to identify its weaknesses and address them in the future. It is also essential that you learn about the management company’s past mistakes so that you know what to avoid in the future.
- Are they up to date with current laws, regulations, management issues, etc?
Many management companies simply ignore the latest trends, laws, and regulations. But this can cause them to miss important information that could potentially lead to significant losses for your community. If you are looking for a company that will be able to handle all of your HOA needs well then make sure that they are constantly keeping up with the latest developments in their industry.
- Does the company mirror the culture and values of your association?
Remember that you will be working with this company for a long time, so it is essential that they are able to align well with your community. Aside from the business aspect of things, you will also want to ensure that the company’s values and culture match those of your association. If there will be any clashes in the future then it would be best to find another management company now.
- Can your association afford the cost of services of the company?
The management company that you choose should be able to provide all of the services that your association needs, but you should also make sure that they have a fair rate for the services that they will provide. You will never know if this company is too expensive until you actually hire them. That is why it is essential to shop around for different HOA management companies and their rates so you can acquire an idea about what your association can afford for its future needs.