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According to studies, 82.4% of new homes built in 2021 were part of homeowners associations. It's clear that developers, owners, and investors prefer the peace of mind that comes with HOA governance. You'll get more from your property when you can set up an HOA.
But who is going to oversee your community association? HOA managers can provide a rock-solid foundation. They offer professional expertise and oversight, making your homeowners association more productive and effective.
This article will help you find the HOA property management companies that'll help you get the most out of your real estate investment.
Check Out Their Resume
When shopping for a homeowners association, go through their resume to make sure they're the cream of the crop. Do a quick background check into the types of property they've managed and investors they've worked with.
This can give you an idea of what you can expect, and a strong track record shows competence and professionalism.
Match Their Services With Your Needs
Determine what services you'd like for your HOA property management company to take over. Some property owners need a full-time professional in an on-site office running the property. Other investors need legal advice when creating their HOA Charter or addressing disputes.
It's usually best to go with an association manager that offers all-encompassing services. This lets you outsource all of the dirty work so that your HOA board runs better meetings, keeps detailed archives, and communicates more effectively with HOA members.
Look at the Cost
Always get price quotes when vetting association managers. This lets you compare the services they're offering with the price, which you can cross-reference with your budget.
You'll usually pay a flat fee or percentage for HOA management services. Good managers are worth every penny, so get your money's worth out of the rates that they charge. Explore price quotes with multiple HOA management companies to make sure you're getting the most value for your money.
Prioritize Marketing and Maintenance
Marketing and maintenance are two things you can't sacrifice when hiring HOA managers. Internal marketing gets the word out about meetings to increase attendance, notifies people of violations, and sends emergency announcements. Exterior marketing attracts new buyers and vendors, which is great for the financial health of the HOA.
Your HOA managers must also be on top of maintenance and repairs. This craftsmanship keeps owners happy, maintains property values, and avoids lawsuits.
Property management companies have real estate agents and marketing pros that can help you get the word out to as many people as possible. They also have relationships with repair contractors who can offer impeccable service.
Choose the Right HOA Property Management Companies
You want good HOA property management companies by your side on your real estate journey. You'll get that if you consider your needs and follow the tips above.
PMI Peachstate has reliable professionals that you can turn to for all of your property management needs. To schedule a consult and get answers to your questions, shoot us a message or call 470.287.5636.
