What should you look for in a management company?

What should you look for in a management company?

It’s a relationship. The manager you choose will become a part of life in your community. When the relationship is a good one it’s remarkable how much can be accomplished to make life better where you live. When it’s bad it can be a huge and frustrating drag. Luckily you can end a bad relationship without giving up half your stuff, in fact many associations that switch to Regal are amazed by how painless we made the transition for them. But here are some things you should definitely look for in your new manager:

1. Open door policy

All of the resources of your management company should be available to you and your association. You should feel comfortable and welcome dropping by for anything. It should be an easy and natural relationship.

2. Reputation

You should ask board members and homeowners who are managed by the company if they are satisfied. Does the company have a massive churn of associations coming and going? Or do they build long lasting partnerships with their HOAs? Does the management company have problems with the ombudsman office, are they under investigation? Know with whom you’re getting into business.

3. Responsiveness

Everyone is responsive when they are trying to get your business, but what do their other clients say? Is there a live person on the phone when they call? Do board members have their managers cell #? Is the focus on the client? Being ignored is infuriating. Make sure before you choose that your new manager will pay attention to you.

4. Neither too big nor too small

There are some mega management companies. They often do a competent job of managing, but no one association is of any great consequence to them. With them you’ll get a manager assigned to you and it’s a fundamentally impersonal relationship. They generally know the laws and are able to conduct business, but they don’t care about your community in any personal manner. There are also some run-out-of-the-den companies which just don’t have the scale and resources to offer full service. Look for a management company that can offer full service, but that’s not so large that they lose the personal touch.

5. Does the owner work as a manager?

Some companies are owned and run by investors, some by large corporations. You want a company rooted in management with a culture of service and HOA expertise. If the owner is a hands-on manager you know it’s the sole focus of the company. It makes a difference.