20 Jul 5 Traits to Consider in a Management Company
All community management companies are not created equal. There are several factors that can separate high-quality management services from the rest.
Accreditation is an easy way to spot a management company that will bring more to the table. Leading industry organizations only recognize select management companies with their accreditations that are awarded based on strict guidelines. By earning these designations, a management company has proven that they uphold industry best practices and meet a set of respected standards.
2. Structured Financial Planning
A primary concern for many CIDs is financial stability. A good management company can offer accurate fiscal management that will ensure your association is operating within its means.
Accurate fiscal management entails annual budgets, reserve planning, and continuous evaluation of spending. A steady financial picture is a fundamental aspect of a healthy HOA and a quality community management company will ensure that that is the case.
While time is not always an indicator of quality, experienced community management companies have generally had more learning opportunities that allow them to develop proven methods. The advantage of having extensive experience is that since no association is the same,
managers can learn how to deal with a wide variety of situations and apply that knowledge
in the future.
4. Proactive Maintenance
A good management company will implement a proactive maintenance program that will sustain the necessary upkeep of the community. An organized maintenance program can provide
many benefits to an association. While one of the more obvious benefits is the upkeep of curb appeal, a respectable management company will have partnerships with vendors that
can save an association money and improve the quality of overall maintenance.
5. Reliable Customer Service
Reliable customer support is an invaluable benefit of working with a superior management
company. A good management company will devote the resources to provide around the-clock support staff that will be knowledgeable and responsive. This open line of communication will improve the operation of the association as well as the quality of life for those who reside there. In order to ensure that you choose a company that will act in the best interest of your association, consider these 5 qualities when selecting a quality management company. If you’re looking for management for your HOA contact Walters Management today.