How to Choose the Best Property Management for Your Association? Homeowners associations and condominium associations can benefit tremendously from the right property management company! If your community is growing and you need help managing the more complex tasks and responsibilities, a skilled management company can be a valuable partner.
Not only can they make things easier for the HOA board of volunteers, but they can also improve the functioning of your community, save you money, set you up for a more successful future, and improve the satisfaction of homeowners within your community.
Not all property management companies are created equal, and not all communities have the exact same needs. It is essential to choose a company that has the right skills and services for your needs. If you’re looking to hire a great property management company, here’s what you need to look for!
How to Choose the Best Property Management for Your Association?
Values That Align with Yours:
What are your community’s values? When selecting the right real estate management company to partner with, it’s essential to make sure that the management company’s values are in alignment with yours.
Here at the Gershfeld Group, we work hard to understand our clients’ priorities so that we can tailor our services to their needs. We understand the value of community and we will do our part to help keep yours running smoothly!
Services That Meet Your Needs:
Think about the tasks that you want your property management company to handle. What is lacking in your current system? What do you need to delegate to an expert real estate management company?
Do you need financial services, day-to-day maintenance, assistance with planning for the future of your organization? The right property management company will provide each of the services you need, simplifying the management of your community to make everything run efficiently.
Stellar Communication Skills:
Your property management team will need to communicate with the HOA board and with the homeowners in the community. All too often, homeowners feel frustrated, which means your property manager needs to listen and respond in a way that helps resolve this frustration.
Your property management team should have the skills to resolve issues, keep the peace, and keep all parties up to date on matters of importance.
A Deep Understanding of Legal Matters:
Your community is subject to federal, state, and local laws. Since most HOA boards are solely made up of volunteers, legal knowledge may be lacking.
This can make your community susceptible to mismanagement or liability concerns. When you hire a professional management company, you’ll have experts on your side to help you navigate risks and liabilities.
A Top-Notch Understanding of Financials:
Again, because most associations are made up of volunteers, there may be a lack of financial expertise within the board. Managing a community is a lot like managing a business.
It is essential to make sure that dues are being collected, bills are being paid, accounting is always up to date, and budgets are being adhered to. You need a property management company that can carry out your financial needs with speed and accuracy.
Ability to Enforce Rules:
One of the roles of a homeowners association or condo association is to enforce rules. Delegate this task to a property management company whenever possible!
After all, it’s not easy to break the news to your next-door-neighbor that they’re violating the community’s rules by having an overgrown lawn or a past-due account. Having a good real estate management company is key to preventing conflict within your community.
The Bottom Line:
There are various firms that offer management services, but it’s up to you to select the best one for your specific goals and requirements.
When searching for a real estate management firm, ask them questions. Figure out if their values, services, and skills align with what you are searching for in a management team. This will set your community up for lasting success.
Keep Your Community Running Smoothly with the Gershfeld Group:
If you need a skilled real estate management company in the New York City and New Jersey area, get in touch with the Gershfeld Group! We’re here to serve your HOA and the homeowners who make up your community. Give us a call or send an email to discuss your property management needs.