A property management company has been managing your community for some time, but now you’re wondering if the right decision was made. Evaluating your property manager comes down to answering a few questions: Is your manager doing what they were contracted to do? Are they doing it in the right way? 

To break it down, you’ll want to ask yourself this:

 

1. Do they provide the services that they promised?

Take a close look at the contract to see what services were agreed upon. To make this evaluation easier, document any instances that you can praise the manager, or make recommendations for improvement. 

 

2. Do they stay informed about current laws and best practices?

Laws and best practices change regularly, so it’s important for your manager to stay up-to-date since you lean on them for their expertise.

 

3. Do they avoid exposing the Homeowners Association (HOA) to liability?

This may be a no-brainer but across the United States, you’ll find HOA’s that fall victim to lapsed or inadequate insurance, unlicensed or uninsured vendors, and fraud. A great property manager will have integrity and an attention to detail that does not expose you to liability. 

 

4. Do they work in your best interest?

Make sure that your property manager always has your HOA top of mind. A manager that works in your best interest will save you time and money. 

 

5. Do they treat all owners with respect?

Property managers should always act professionally and respectful towards board members and homeowners alike. You might even share feedback from homeowners and vendors. 

 

An annual review will determine if your manager is the right fit for the community. During the review, acknowledge and praise their successes, address any issues, and develop a relationship that lasts. These annual reviews will also allow you to realize it’s just not working, so you can make the necessary changes to better the community.

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