Data collected by pollsters from Americans living in homeowners associations and condominiums reveal that they remain highly satisfied in their respective communities. This is the seventh time in 13 years of conducting these polls.
A common characteristic you are likely to find with these associations is the use of association management companies. And the polls reveal that the management companies work.
But do they all?
Before diving into the indicators of an effective association management company, let’s look at why you need to hire one for your community.
Why Hire an Association Management Company?
One significant advantage is that it saves on resources. The management company manages several associations from a single location. The office space, staff, information system, and equipment that each association could have used are consolidated into one. And each association is charged according to the services they use.
The availability of full-time staff means that clients always have someone who can answer questions about their membership or fees. And the association’s businesses, including their finances and event management, are handled by trained professionals.
So, what makes a good association management company?
1. Quality Services
You want a management company that has been in the industry for a long time. They should have worked for numerous other associations over the years. It is an indication that they know the strategies that work and can help you make major decisions.
The fact that they still have clients working with them shows that the services they offer are of high quality. Beck and Company, for instance, has dealt with a variety of communities of varying sizes, ranging from 10 to 1,000 units.
2. Efficiency
Efficiency is a critical requirement in an association management company. You don’t want the person receiving clients at the front desk to be the same individual handling your finances. And you do not want a company that controls every process manually. Automation and the use of experts in various fields make an organization efficient.
3. Customer Service
At the core of any association is its residents. If the management company and its staff cannot treat the clients with patience, understanding, and professionalism, then they are not worth hiring.
The staff should be responsive. They should give an immediate response to e-mails, phone calls, and any other complaint or inquiry.
4. Transparency
An excellent association management company will have transparency. Financial records, clearly showing the utilization of the fees collected should be made available to the residents regularly. For instance, the residents should receive a quarterly or bi-annual update.
Communication is also key. Let the residents know about the system you are using in various processes. Inform them on legal proceedings and any changes in the management structure.
5. Stability
Frequently applying for a new management company now and then is not just a waste of time, but destabilizing as well. You need a management company that will be with you in the long run.
They should be capable of accommodating the association’s growth. You want a company that will be around for the entire life of the association.
6. Involved
Another major factor you should consider is the company’s involvement in the hands-on running of the association.
Check if they are involved in major decision-making processes. Do they offer advice on techniques to grow the association? Are they involved in long-term planning and budgeting decisions of the association?
In summary
Homeowner association management companies are necessary for every community. But you need to be keen on the organization you choose.
The best HOA management company will be transparent while offering excellent customer service. They will be committed to staying with the association in the long-run and determined to see it grow. They will portray efficiency and transparency while delivering quality services.
These are qualities you will find in Beck Property Management Company. It has been in operation for over 20 years. We know what it takes to make a home association operate successfully. Give us a call today.
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