A successful property management company is one that is always seeking ways to benefit each homeowners association and save homeowners money. While there will always be things that could be billed back to the property owner, such as services and repairs, the management company should ultimately promote the goodwill of those in the homeowners association—and that should show in the management company’s actions.
Here are some examples of what successful property management companies do. As an HOA Board, it’s important to look for these aspects in your current or future homeowners association management.
Treating Property as Their Own
Great property managers will take the extra care to know each property as if it were their own. This means they should be familiar enough with the property that no sudden surprises occur that catch the manager off guard. Since their primary responsible is managing property for your association, there should be no question that they are doing so.
Returning Homeowners’ Calls
If a homeowner calls your property manager and doesn’t hear back in a reasonable amount of time, that’s a red flag. Management should be courteous of owners’ time and should be able to answer in a timely manner. The email and phone number of the manager should also be readily available to homeowners and there should be a messaging system in place, even if there are specific hours of operation. This is important not only for the happiness of your owners, but also because if a manager is not doing their job, that reflects poorly on your association as a whole.
Keep Homeowners Updated
Personally contacting homeowners and updating them on any changes is a great way for managers to personalize the experience and instill trust. For example, a good manager would contact owners twice a year or more and let them know what can be expected in the next several months. It’s also a great time to discuss major property maintenance that might be happening in the future so that homeowners can have time to prepare for the change.
Inspection of Properties
Sadly, more property managers than you’d think actually never visit the properties they manage. Check if this is the case with your property management company, and if it is, you should likely consider getting a new one. Visiting property regularly is so important in management because it allows managers to stay up-to-date on how properties are doing, especially between renters. A good manager should check the property before and after each resident.
Check in with your property management company periodically to make sure they are staying up-to-par with correct standards. Otherwise, properties will become mismanaged and homeowners dissatisfied with your association.
At Cedar Management Group, we are dedicated to our 24-hour response from managers along with our great range of services because we care about the satisfaction of associations and homeowners alike.