Updated: Nov 2
One of the most important things you can do for your community is choose the right community management company for your needs. Every community is different. You need a community management company that recognizes your uniqueness. They should also be able to give you exactly what your community needs to thrive.
Yet, with so many community management companies, finding the right one may seem daunting. Do not worry, though. In the rest of this article, we tell you the exact steps to find the right community management company for your needs.
Steps for Choosing the Right Community Management Company for Your Needs
The right community management company can impact your community’s overall well-being and efficiency. To ensure you make the best choice, follow the steps below.
1) Define your needs:
You will not be able to find a community management company that supports your needs if you do not know what those needs are. Therefore, the first step in your search should be determining your community’s needs. For example, consider the following questions.
What is your community type (HOA, condominium association, etc.)?
Do you need financial management, administrative help, or both?
What level of involvement do you want from a community management company?
2) Ask for recommendations:
If you are struggling with where to start your search, consider asking neighboring communities for recommendations. You can determine the top community association management companies in the area through word-of-mouth.
3) Look locally:
While national community management companies are available, you should consider local companies first. Local companies are more likely to provide tailor-made solutions for your community. They are also more likely to understand the needs of communities in your area, know the local vendors, and understand local regulations.
Communities in the St. Louis metropolitan area should consider Community Property Management (CPM). We offer the best community management services in the area.
4) Ask the right questions:
Once you have your top choices, it is time for the interview. Always speak to the company before hiring them. By asking the right questions, you can ensure your chosen company is compatible with your community.
Your list of questions should include the following.
How long have they been in business?
What services do they offer, and how can they customize these services for your community?
What is their communication strategy with boards and residents?
How do they manage maintenance and repairs?
What is their approach to financial management and reporting?
Do they assign a dedicated account manager to your community?
Can they provide references from current clients?
5) Request a detailed proposal:
If you are interested in collaborating with a specific company after the interview, the next step will be to request a proposal. The proposal should include their services, fees, and any additional costs. Compare the proposals to determine which community management company offers the best value within your budget.
Finding the right community management company does not have to be a terrible experience. Follow the tips in this article to ensure your community gets what it needs to thrive. For more suggestions about community management, contact CPM.