Top Five Considerations for Selecting a Community Association Management Company - PowerPoint PPT Presentation

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Top Five Considerations for Selecting a Community Association Management Company

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When selecting a community association management company, homeowners associations (HOAs) want a well respected partner…one that has earned a reputation for honesty and integrity. These attributes provide a solid and necessary foundation. Without this base, no other qualifications really matter. Learn more about Community Association Management by visiting . – PowerPoint PPT presentation

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Title: Top Five Considerations for Selecting a Community Association Management Company


1
Top Five Considerations for Selecting a Community
Association Management Company
2
Community Association Management
  • When selecting a community association management
    company, homeowner associations (HOAs) want a
    well respected partner
  • one that has earned a reputation for honesty and
    integrity.
  • These attributes provide a solid and necessary
    foundation.
  • Without this base, no other qualifications really
    matter.
  • Once the HOA finds candidates with these
    characteristics, it can further evaluate each
    community association management company on the
    following top five considerations

3
Community Association Management
  • Commitment
  • Any true partner to the HOA must be committed to
    developing and maintaining a long-term
    relationship.
  • This dedication must be obvious in the level of
    personal service the company has a history of
    providing and the corporate culture its known
    for within the industry.
  • The community association management company must
    also demonstrate a pro-active approach in every
    project and task it undertakes.
  • In addition, the company needs to be committed to
    assuming personal ownership for all
    responsibilities and issues.
  • Commitment also means the community association
    management company always puts the best
    interests of the HOA first and treats every
    member with respect.

4
Community Association Management
  • Clients
  • A well qualified management company will have
    long-term client relationships and first-rate
    references.
  • A significant percentage of its current client
    base will have been with the company for several
    years.
  • This repeat business speaks volumes about the
    level of services the community association
    management company provides.
  • Other factors about a management companys client
    base to evaluate include size and growth.
  • Is the companys client base growing or stagnant?
    Whens the last time they added a new community?
    How many communities have they added in the past
    year?

5
Community Association Management
  • Clients
  • Also, the HOA should evaluate the range of
    associations the company serves.
  • In other words, is the focus broad or narrow?
  • A full-range of association management would
    include master-planned communities, active adult
    communities, traditional neighborhoods,
    condominium properties and more.
  • The HOA should select a management company with
    experience in its community type.

6
Community Association Management
  • People
  • The services of the community association
    management company will only be as good as the
    experience and expertise of the people providing
    them.
  • Therefore, to deliver the highest standards, the
    companys people must be highly trained and
    motivated.
  • In certain positions, professional credentials
    are required. In particular, HOAs should
    evaluate the management companys executive team,
    community managers, human resource department,
    accounting personnel and support staff.
  • For example, do key personnel hold college
    degrees and/or professional certifications? Is
    the working environment a positive one? Do
    employees seem to like working for the company?

7
Community Association Management
  • Education
  • Education and training is a priority for both the
    community association management companys
    internal staff and the HOAs board members.
  • The management company must invest regularly in
    staff training for everyone involved in managing
    the community.
  • Education keeps personnel current on all issues,
    legislative updates and best practices concerning
    association management.
  • By providing all the necessary training, support
    and tools for communities, HOA management
    companies can improve neighborhoods and make them
    better places to live.

8
Community Association Management
  • Processes
  • Streamlining projects within the community
    requires proven processes.
  • An experienced community association management
    company will have established processes ready to
    deploy when theyre brought on board.
  • Using these processes, the transition to the new
    management company should go smoothly and the HOA
    should begin seeing value from the relationship
    right away.
  • With an efficient framework in place for managing
    the HOAs business, a skilled community
    association management company creates unmatched
    peace-of-mind for board members.

9
Community Association Management
  • AAM works with many of the largest homebuilding
    and community development companies in the United
    States such as Del Webb/Pulte, Shea Homes and
    Meritage Homes.
  • Founded in 1990, the company employs 370 people
    and manages over 400 homeowners associations in
    the United States.
  • AAM is dedicated to delivering total peace of
    mind to the Boards of Directors and homeowners in
    the communities it manages.

10
About the Author
Susan Williams is the Vice President, Business
Development and Marketing for Associated Asset
Management, a community management firm that does
business in Arizona, New Mexico and
Florida. Learn more about Community Association
Management by visiting http//www.AssociatedAsset
.com.
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