Being part of a Homeowners Association is rewarding – yet it can also be challenging at times. Board members are often tasked with difficult duties ranging from proper financial stewardship to navigating community conflicts, and much more.

Through it all, a good property management company can be the best friend you can have.

So how can a property management company really help? Here’s a look at the kind of qualities that separate an average management company from a stellar one.

1. Communication

There’s a reason they call it “the art of communication.” Having your message heard – and responded to quickly and effectively is the cornerstone of good customer service.. Listening attentively and communicating with clarity are important, but accessibility and responsiveness are key. Seek out companies that offer 24/7 availability, along with web portals that provide additional avenues of contact.

2. Experience

When you hire a property management company, you rely on  its team to bring years of experience and expertise to your community. The best property management companies will have the necessary depth of experience to successfully resolve any projects or situations that arise. These are the kinds of companies that have the ability to persevere in the face of any challenge...from start to finish.

3. Market knowledge

No two homeowners associations are the same. No two markets are, either. A quality property management company offers the local market knowledge and insights necessary to help your association navigate the challenges specific to your area.

4. Bench depth

So you love your property manager, right? But what do you do when she goes on vacation or out on maternity leave? A good property management firm has a team of qualified professionals who can step in when needed to ensure your association continues running smoothly, no matter what. After all, excellence should be a company-wide quality, not just a personal one.

5. Being proactive

Much of what makes a homeowners association successful involves planning ahead. Budgeting, maintenance schedules and other important tasks are best completed ahead of time, with plenty of forethought. This kind of proactive approach often makes it easier to accommodate those unexpected issues that inevitably arise.

6. Relationships

When you work with a leading property management company, you enjoy the benefits of its relationships with quality vendors. As an added bonus, the best companies will often leverage their multi-market presence to offer bulk purchasing that can save associations real money.

7. Accountability

A great property management company knows how to own it. It creates a culture that encourages its professionals to step up to the plate when challenges arise and assume full responsibility for finding solutions.

8. Listening

Really hearing what people are saying is a skill that needs to be nurtured and cultivated, and the best property management companies do it well. Listening to residents and board members to understand their goals and needs is the first step in developing plans and strategies that result in happy, thriving communities.
The qualities above are the hallmarks of a property management leader, and when performed correctly and consistently, they can make a real difference for the associations these companies serve. For further insight, contact FirstService Residential.
Tuesday May 26, 2015