Managing a community association involves organizing finances, scheduling meetings, keeping accurate records, and taking care of the overall property. These responsibilities require you and other board members to have sufficient time and experience to dedicate to the community. Partnering with a professional management company allows you to reduce your workload while still being part of a well-organized association. Here are some things to look for when hiring a community association management company:
Relevant Service Areas
Association management companies offer services for various types of communities, so verifying that they work with your specific property type is key. Doing so makes sure that the company can provide tailored support for your community’s design, amenities, and resident needs. Some service areas include:
- Condominiums
- Single-family homes
- Mid-rise and High-rise buildings
- Estates
- Active-adult communities
- Large-scale communities
These community types have distinct features and requirements that the management company will focus on. This can include unique rules and regulations, fees and assessments, and upkeep responsibilities. High-rise buildings may require specialized elevators and security systems services, while large-scale communities may need extensive planning for shared spaces and events. Associations can also have different amenities, such as gyms, pools, and playgrounds. Selecting a company familiar with your community type will promote effective and thorough management, supporting a better living experience for residents.
Comprehensive Management Services
When choosing a community association management company, look for a team that offers comprehensive services. A full-service manager can make addressing your community’s diverse needs easier and more convenient, saving you time. Comprehensive services include financial management, vendor oversight, resident communication, and rule enforcement.
Financial Management
Financial management services safeguard the association’s current and future monetary well-being. They assist with establishing a budget, collecting resident assessments, and keeping accurate bookkeeping records. Look for a management company that can create a custom budget and help you conduct reserve studies to support informed decisions.
Vendor Oversight
To keep the community in good condition, choose a management company that will oversee recurring and preventive upkeep tasks. This may include inspecting shared facilities for necessary repairs or hiring someone to clean the pool or trim the trees. Professional managers can also negotiate contracts with vendors, review their services once completed, and make sure they receive timely payments.
Resident Communication
Effective communication between residents, board members, and professional managers helps resolve issues promptly within the community. It makes sure everyone is informed about upcoming projects, rule changes, and financial decisions. Choose a management team that uses efficient methods of communication, such as text, email, or mobile app notifications.
Rule Enforcement
Associations have various rules and regulations that help govern the community. Look for professional management companies that are willing to enforce these rules among the residents. This promotes fairness and consistency in maintaining community standards while also preserving the property’s appearance.
Specialized Management Services
Some association management companies offer specialized services for unique situations that may occur in a community. These can include managing large-scale renovations, coordinating emergency response protocols, or handling complex insurance matters. If you expect to complete a large project in the near future, partner with a management company with a dedicated project team. This will provide you with specialized guidance whether you’re renovating a community clubhouse or resurfacing a main parking lot. Some professional management companies can also tailor services to your needs. This is beneficial if you only need assistance in certain areas of community management, such as organizing the association’s finances.
Hire Community Association Management Professionals
Community association management professionals provide various services, from accounting and budgeting to communication and administrative support. Some companies also offer their services on-demand, assisting you only when needed. When choosing a management team to work with, make sure they specialize in your community type and suite of amenities. Contact a community management professional today to browse their service offerings.
