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HOA Management: How to Select the Best Community Association Partner
- 1. HOA Management How to Select the Best Community Association Partner
- 2. HOA Management • The primary qualification is trust • Running HOA involves managing a lot of projects and tasks. Experience and expertise should represent initial qualification • Spend ample time during evaluation process. Make sure you cover all your bases takes time, discipline and effort
- 3. HOA Management Look Within before You Look Outside • Have a search committee in place before evaluation process begins • Understand what your community association needs • Make a list of each one’s critical requirements, then compile a master requirements list of everyone’s input
- 4. HOA Management Understand State Guidelines • Have an idea of what state regulations require for HOA Management companies – Ex: Florida community managers required to be certified through the state • Need to know regulatory credentials needed • Consider management companies certified by industry associations
- 5. HOA Management Understand State Guidelines • Consider company’s bonding and insurance, including liability and workers’ compensation • Ask for a copy of all insurance certificates to confirm proper coverage's
- 6. HOA Management Internal Processes for HOA Management Companies • Look inside each candidate to determine best match. Ex: HOA management company must demonstrate stringent internal hiring practices • Evaluation should start with checking references
- 7. HOA Management Internal Processes for HOA Management Companies • Visit the company’s offices and facilities they manage in person
- 8. HOA Management Read the Fine Print • Don’t skip reading all the terms of contract • Don’t rely on standardized contract forms • Have association attorney review all legal documents and make changes accordingly • Enter into an agreement for shorter period of time
- 9. HOA Management Read the Fine Print • Understand termination clauses • Know all the costs associated with your HOA management company’s services
- 10. HOA Management About the Author Susan Williams is Vice President, Business Development and Marketing at AAM Community Management, one of America's most-respected Homeowner Association (HOA) management companies. Learn more about HOA Management and other services by visiting http://www.AssociatedAsset.com/.