If your association is in the market for a new property management company, you’ve experienced firsthand how overwhelming the process can be. There are many companies to choose from, but how do you know which is right for you?

Just like the different communities throughout the Twin Cities, property management companies in Minnesota come in many shapes and sizes, yet there are core qualities you’ll want to make sure your management company has.
1. Strong Team
You already know you want a property manager whose vision and personality are a complement to that of your board, but it takes more than one person to serve you effectively. Find out what additional resources and team members would support your manager. The team should include HR, insurance, technology, maintenance, accounting, collections, investment, and administrative support. You want your manager to be backed by a team with a host of capabilities.   

2. Established SOPs
Standard operating procedures are an essential part of effective association management. The best property management company will have honed these procedures throughout their history and should have solutions ready to deploy from day one. These include preventive maintenance programs, vendor contract forms, consistent accounting controls and reporting, and effective budgeting tools.

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Monday January 01, 0001