There is a 20% chance of buying a home in America that is part of an HOA. Homeowner associations are governing bodies in a condominium, subdivision, or a planned community that manage the properties and residents in the given jurisdiction.
The foolproof way to ensure proper running and management of any HOA is by working with homeowner association management companies. The companies come with the right experience, expertise, and resources to ensure that your association is managed adequately and the members are fully satisfied.
Here are a few things you should keep in mind when choosing the HOA management company.
1. Services Offered
Most HOA management companies will offer services such as administrative, financial, bookkeeping, maintenance, and customer services. Others, like Beck and Company Austin, will provide additional services such as long term planning and capital improvement support.
Knowing that they offer the service is not enough; inquire how they do it. How does the company handle financial services, and who does it? Do they respond to after-hour emergency calls?
2. Are They in Compliance with the Current Relevant Laws and Regulations?
You want a management company that will make running the association management smoother, not get you into trouble with the law. Non-compliance with state laws could result in costly fines and legal fees.
The management company’s staff should be up to date with all laws and regulations governing homeowner associations. They should always adhere to these laws when delivering their services. The company should be capable of properly guiding the HOA board when making decisions and ensuring that they follow all legalities.
3. Check the Company’s History
You want a company that will deliver quality services. Checking the company’s history will tell you two things: how long it has been in operation and if they have had complaints lodged against them. A company that has been in business for a significant period, such as Beck and Company that has been in operation for over 10 years, is proof of their experience in association management.
Check the type of HOAs in the company’s portfolio. Have they handled an association of your size and nature?
4. How Is Their Cost?
Homeowner association management companies will have different pricing structures. You need to contract the services of a company whose cost is within the HOA’s budget, but you also want to be sure that you can understand the ins and outs of your contract.
Get quotations from the best companies available. However, do not fall into the trap of choosing the cheapest service. Compare the cost to value, and go for the highest value you can receive within your budget. As much as you are keen on cost-saving, you want a company that will adequately manage the businesses of the HOA.
5. What Are the Company’s Values?
You are going to be closely working with the HOA management company when making policies, resolving issues within the association, and the day to day running of the HOA. For this reason, the company’s values and culture must mirror your own to avoid conflict.
Discuss with the company. Ask about their core values. See if their values portray high regard for the community spirit. For example, transparency and communication are key factors in a quality HOA management company. Are they passionate about what they do, or are they all about the money?
6. Consider the Company’s Location
Do not forget about the company’s location. There could be numerous homeowner association management companies in your state, but the right one will not be too far from your locality.
The nearer they are, the faster they will be capable of responding to emergencies. That’s why Beck and Co. is located in the heart of Austin, TX. We are familiar with the unique needs of homeowners in your area. Because we understand your community, we know the best way to manage your property.
Rely on Beck and Co. Today.
Homeowner association management companies are numerous, but the right company is near you: when you’re ready to invest in a HOA you can trust, rely on Beck and Co. today. We have been providing quality real estate management services from 1996 and have built relationships with numerous homeowners in the business. With more than two decades of experience, you can be sure that we have every quality you need to feel confident with your property management. Call us today at (512) 474-1551.