10 Warning Signs Your HOA Management Company Is Underperforming
Is your HOA management company letting you down?
Do you know the signs of an underperforming HOA management company?
If the answer is yes to either question, we have the answers for you. Here you will learn the top ten signs to watch for that will indicate an underperforming HOA management company. Then you will learn what to do about it.
Ready to improve the financial health, appearance, and day-to-day operations of your community?
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1. Poor communications.
When emails go unanswered and calls aren’t returned, your Board and homeowners are left in the dark. If your HOA management company is not communicating clearly and frequently, it’s time to look elsewhere.
2. Frequent financial errors.
Financial errors can happen to anyone, but inconsistent financial reports, missing invoices, or unexplained charges are serious red flags. Make sure your HOA management company has good financial transparency skills.
3. Neglected property maintenance.
The better your community looks, the more appealing it will be to prospective buyers. Your HOA management company should keep on top of landscaping, repairs, and all safety hazards.
4. Resident complaints.
Your residents are the backbone of your community. They need to be heard and their concerns addressed. A steady stream of unresolved complaints from homeowners often points to deeper issues with your management company.
5. Lack of proactive recommendations.
The right management partner will offer proactive solutions and improvements. You do not want to work with a company that just reacts to problems. If you never hear suggestions for better budgeting, maintenance, or vendor management, it’s time to question their commitment.
6. Failure to enforce community rules consistently.
Your HOA management company should be an impartial arbiter of community rules and disputes. If they are selectively or inconsistently enforcing community rules, you will deal with much more discord and potentially legal disputes.
7. No follow-through.
Community projects that routinely run behind schedule or get postponed without explanation reflect poor management and planning from your management company.
8. High vendor turnover.
Frequent changes in vendors and unresolved vendor disputes can indicate a breakdown in oversight and relationship management.
9. Non-compliance with state and local laws.
If your HOA does not comply with current state and local laws, it may face fines or legal challenges.
10. Board members too overtasked.
The goal of HOA management is to relieve the pressure and stress on Board members. If your Board feels compelled to take on management tasks just to keep the community running smoothly, your management company isn’t fulfilling its role or promises.
What To Do Next
So, you’ve determined you are partnered with an underperforming management company.
What now?
It’s time to take action. Start by documenting all problems and try to address these concerns with your current provider. However, in many cases, it may be time to move on.
If your community is in the Greater Westchester, Rockland, Putnam, Orange, and Dutchess counties, you need the help from Katonah Management Services, LLC. We are your Hudson Valley source for excellent HOA management services, stellar communication, and unmatched follow-through.
Contact Katonah Management Services, LLC today for more details!