Switching HOA Management Companies: How to Do It Right
If you think it's time to change from your current HOA management company to a new one, be aware of the issues that can arise during the transition, and weigh the work necessary to resolve current problems against the difficulties of transitioning.
"Transferring is usually confusing for the first month or two for the owners," says Duane McPherson, division president at RealManage, a San Rafael, Calif., association management firm that oversees properties in Arizona, California, Colorado, Florida, Louisiana, Nevada, and Texas.
"They've been sending their payments to one address, and that will change. And the new management company has to get up to speed on what's been happening and understand the complexities of the association."
If you do switch companies, protect your association. "Interview multiple companies, not just one," advises McPherson. "Check to see what certifications they have. Spend time getting to know the company and its qualifications, and get references from other communities it manages. That's a big thing. If you can get positive recommendations from communities that are similar in nature, that should allow you the comfort level to select the proper management company."
To read about HOA boards who decided that it was time to switch managers, and to get a better understanding of the manager's side of common board-manager problems, read our new, two-article series:
· Tensions Between HOA Boards and Managers: The Managers' Perspective
· HOA Management: Owners Kick Their Management Company to the Curb