Questions to Ask Prospective HOA/Condo Association Manager

Right now, we really look for managers with technology expertise and a comprehensive web site (more than just a brochure web site). It's very helpful because it really narrows the field. Some companies have it but others say, "Oh, I prefer face-to-face, forget that Internet stuff!"

We also look at their level of interest, how proactive they seem to be, whether or not they are willing to negotiate the contract and, of course, price.

All things being equal, we prefer a larger firm. While there may be capable smaller firms, we've found that they often don't have the resources to invest in technology or web site features. Technology is often a fixed cost but the benefits can be applied across all the HOAs that a manager manages so bigger management companies get a bigger bang for their buck as well as having more bucks. Also, smaller firms have personnel problems and growing pains more often than bigger firms (who are hopefully past that phase). There is a hope that a smaller firm might provide better or more personal service but we haven't found that to be the case. The main benefit that we've found for going with a smaller firm is price. Smaller firms know that HOAs are price sensitive and will put in lower bids than larger firms.

My opinion: If you aren't going full-service, you might as well self-manage. I don't really see much benefit in just doing accounting although managers offer it and I guess some HOAs choose it. Maybe that is a special circumstance suitable for giant HOAs.