Almost 30% of the population in America lives in HOA communities. To put that into perspective, that's around 358,000 neighborhoods.
As an HOA board member, finding the right association manager is vital to effectively running the community. The difference between a good HOA manager and a bad one can significantly impact the neighborhood.
Luckily there are things you can do to ensure you hire the best HOA management company you can afford. To do this, you must know what to look for when scouting for HOA services.
If you're living in Phoenix, Arizona, keep reading to learn three things you should look for in an HOA management company.
1. Good Understanding of HOA Matters
When hiring HOA services, choosing an association manager with a good understanding of HOA matters is essential. This means understanding exactly what the board wants for the community. For instance, a good HOA manager will clearly understand the HOA boards' rules and regulations, such as:
- Exterior home maintenance
- Holiday and lawn decoration restrictions
- Noise complaint policies
- Home occupancy limit
This also means that the community association management company you hire should be up-to-date on your state's latest laws and regulations regarding HOA communities. You can read more about Arizona HOA bylaws here.
2. Adequate Budgeting Administration Skills
Another aspect to consider when hiring an HOA manager is their financial skill level. You want to hire a company that can understand and help the board manage the budget and finances. Otherwise, you risk hiring a company that spends your money unnecessarily.
Managers of HOAs need a good understanding of financial administration, budgeting, and transparency policies. This way, you know that the collected money is invested wisely into the community. If you hire an HOA manager with bad financial skills, you risk your community suffering.
3. Good At Multitasking
Finally, when hiring an HOA manager, you want to ensure the one you hire is good at multitasking. Managing an HOA community comes with several responsibilities, and you want a company that can handle multiple duties simultaneously.
An HOA management company's list of tasks is extensive, and you want to ensure you're hiring someone who can work efficiently. Otherwise, things like maintenance requests, late fee collections, etc, get delayed.
This can cause a knock-on effect and leave your HOA manager floundering. Finally, ensure the HOA manager you hire understands the ins and outs of information privacy laws in your state.
Finding the Perfect Association Manager Is Easy
Knowing what to look for when hiring an association manager for your HOA community is vital. You want your HOA manager to be good at multi-tasking and understand HOA matters, best practices, etc. This way, you can rest assured that your community is being run effectively.
Finally, ensure the HOA services you're considering have solid budgeting and financial skills. Otherwise, you risk losing money and tenants in the future.
Contact us today if you need help with your investment properties in Phoenix, Arizona. We're a full-service property management company that can help you manage your rental homes, so you don't have to.
