The debate of whether or not to hire a professional manager is a question all
homeowner associations (HOAs) ask themselves at some point. Typically, there
comes a point where the volunteers can not take it all on themselves any longer.
Finding a management firm you can trust to take on some or all of the tasks involved
in running a homeowners association can be a difficult task.
If you are in the difficult decision of whether or not to hire an HOA manager, read on
for five sure-fire tips for picking the right management firm.
Check Their Credentials
While most states require property managers to have an active real estate license,
no further credentials are legally required. Nevertheless, be sure to ask if your state
requires some sort of manager licensing. And if you happen to live in a state where
manager licensing is required, don’t waste your time interviewing candidates that
cannot work for you.
Make a List
Once you narrow done your potential HOA managers, make a list of what you need
an HOA manager to do for you. Keep your search focused and be upfront about your
needs.
Check For Their Availability
Check their availability. You may also need an on-site manager during standard
office hours, depending on the size of your community and your communities needs.
If you choose to hire an outside management company, be sure you completely
understand your manager’s daily, weekly, and monthly schedule.
Read The Fine Print
And ask for a fee schedule. Costs could be buried in those extra fees. If you feel more
comfortable asking your lawyer to take a look at the contract, do it.
Make Sure The Contract Terms Are Acceptable
After you properly scrutinize the contract, make sure the terms of the contract are
acceptable. Typically, these contracts run for a year and allow for termination with a
30 to 90 days’ notice. If a company insists on a longer contract, or doe not include a
termination clause, you may need to continue your search.
From collecting dues to dealing with legal matters, homeowner’s association boards
have many big responsibilities to undertake. If your HOA board can’t run on
volunteers alone, it may be time to call a HOA manager.
If you have questions about our management and consulting services, please give
our HOA partners and property management experts a call at our office located in
Los Gatos, CA. We look forward to partnering with you.