There can be times when the volunteers of your HOA (Homeowners Association) cannot manage doing all the tasks themselves. Well, here comes the need of a professional and reliable manager that has sufficient skills to offer your association the service it needs.
If you live in Phoenix, you don’t really need to worry since there are many firms that can help you in the tasks that are involved in running HOA. However, you require finding the services you can trust.
So, make sure to hire the best Phoenix HOA Management Service with the help of the following tips. Read on and get informed!
Determine your specific needs
First of all, make a complete list of what you expect out of the management company that you will hire. Well, you may put anything on list if your HOA board takes the responsibility of looking out the actions of the management company. The requirement lists can differ from one HOA to other.
Check out for bonding and insurance credentials for property management service
Different state has different laws and standards for insurance and bonding. HOA’s may be required to acquire their insurance for protecting association against any compensation lawsuits of the potential workers. So, it makes complete sense for ask for Insurance Certificate of the property management company.
Choose a committee or person for doing preliminary search
Hiring HOA property manager isn’t a simple task. You need a reliable, reputable, and dedicated property manager, don’t you? So, expect to allocate minimum 20 hours for choosing a right management firm.
Does the property management perform criminal background search of their manager?
The HOA have the choice to order background check on potential employees that can include a property manager too. Remember verifying the provided references as well. Preliminary search like this will ensure that you are getting the personnel that can best meet your HOA’s particular needs.
Compare and analyze property management contracts
Property management bids usually fall in line with each other. Nevertheless, getting to know how these fees and costs are broken down is important here. While some might include postage fees as part of general costs, others can even separate it from included costs. However, don’t just go with the one offering minimum bid. Quality of service is important to consider here along with the associated cost.
It is even possible that larger costs can be buried in additional fees. For instance, a company might charge separately to manage vote and for postage as well as payment collection for exclusive assessments. Consider it as a red flag when the bids come in much lower than the others!
Read fine print carefully
It is almost impossible for a management company to work without signed contract. It is a necessary part that you must never sign Management Company’s contract. In case of any updates or modifications let your association lawyer suggest it, in advance.
Doing your homework before choosing a property management firm will really help you. With the above mentioned tips, you are sure to find the best one for your HOA too!