Interest in association management is increasing. According to figures, around half of association groups are seeing an increase in membership. To properly capitalize on new members, associations need to implement the best management practices. Choosing the right group to take on management responsibility is crucial.
But, how should you choose the best association management group to ensure your HOA is successful and well-run? This article offers some useful community association tips to help you find the ideal management partner.
1. Check Their Experience
The only way to consistently implement effective management strategies is through experience. The management group you choose should have extensive experience working with HOAs. Look for a proven track record of success, they should have an address book full of satisfied clients.
You should also check their knowledge. Great association management advice requires specialized expertise. For example, a management company needs to have a tried and tested reputation for solid financial oversight.
2. Follow Up on Their References
Of course, you shouldn't just trust blindly. If a management company says they have satisfied clients and extensive experience, you should verify their claims. See if it's possible to reach out to past or current clients and get invaluable feedback on how the management company operates.
You can also verify these claims by searching the internet for reviews, testimonials and industry awards.
3. Check the Services They Offer
Association management is a broad field. This means some companies are more suited to your HOAs needs than others. A suitable management company offers a skilled blend of local governance, membership supervision, and financial management.
You should also inquire about how these services can be customized to suit your association's specific needs. The best management companies appreciate that every client is different, and they're always open to customizing their functions and procedures to meet your requirements.
4. Think About Technology
it's clear to see that the technology landscape is rapidly changing. Innovations in AI are transforming many industries, and management is no exception. Going forward, the best management companies will work closely with tech experts to achieve unprecedented efficiency and productivity.
When interviewing potential association managers, you should ask about how they're investing in the latest technology.
5. Review the Costs
Finally, you need to consider the costs. Hiring a management company involves striking the right balance between cost and expertise. Great management expertise isn't cheap, so simply hiring the most experienced company isn't always financially viable.
An Association Management Group Can Transform Your Community
If you want your community to be the best it can be, you need a well-functioning HOA. Not only will this keep house prices high, it'll also create a sense of harmony and cohesion. Achieving this is impossible without competent management.
Are you looking for an association management group to help you keep things running smoothly? PMI Treasure Valley is here to help. We have decades of collective experience in property management, and we'll put our skills, knowledge and insights into practice to help your association be the best it can be.
Contact us today, and let's discuss how we can help.
