Homeowners' associations (HOAs) are thriving in North Carolina. In fact, NC ranks in the top 10 in the nation for HOAs per capita. Nearly 27% of homes in the state belong to an HOA.
Many HOAs are growing and with more members, they become difficult to manage. A property management company can help your Charlotte community. The best property management companies will allow an HOA to run efficiently and grow in value.
Read on to learn how to choose the right HOA property management companies. Explore what services an HOA management company provides to better the community.
Positive Reputation
Before you hire an HOA property manager, you need to do your research. Your HOA should not do business with any company that does not have a sterling reputation.
Start by researching on the internet and social media. Google reviews are a great place to find customer testimonials and experiences. A high volume of poor reviews is a red flag to look elsewhere.
You can also look at reviews and commentary on Facebook. HOA board members are known to vent about their bad experiences. On the flip side, you may see a multitude of customers raving about a property manager.
The Right Experience
You do not want to hire a property manager that does not fulfill the services you need. It's essential to look at the specific experience that an HOA management company has.
For example, consider a community that has a large public swimming pool. Does the property management company that you're hiring have experience handling a pool?
There are so many elements that go into operating a community pool. You need to coordinate lifeguard services to make sure your community members can swim safely. The pool needs routine treatment to stay clean and sanitary.
Also, the pool filters and heaters require preventative maintenance to make sure they operate correctly. Clearly, this is a big undertaking and you need a property management company ready to tackle this.
Each community has different needs. Common requirements include landscaping, exterior maintenance, HOA dues collection, and trash collection. Lastly, you should ensure the property manager uses technological solutions to optimize the work.
Request for Proposals
To find the best value company, you should put out a solicitation to local companies. This essentially serves as a notice to property managers that you're looking to hire.
In the request for proposal, you can list all of the requirements. The contract period of performance is another important item.
The property management company will respond to the solicitation with their terms and pricing. The HOA board will then evaluate the offers and make a selection.
Your Guide to Selecting HOA Property Management Companies
You now have a starting point in your search for an HOA property manager. Finding a company that can meet your needs and has a strong reputation is critical.
PMI Queen City has over 20 years of experience providing excellent service to HOAs. If your board is looking for HOA property management companies, contact us to speak with an experienced professional.
