Acquiring new HOA Properties

Started by NicholasS1 • 7 replies • 1406 views

💬 Join us to post & get advice from 50,000 HOA & Condo leaders.

⚡ Takes 30 seconds

Already a member? Log in

NicholasS1 (Arizona)
Posts: 8

Posted:

Arizona
I have a small HOA Management company that I recently purchased. I would like to add additional properties to the portfolio.

How would I accomplish this task as it is very complex to directly communicate with the current Boards at other properties.

What would be the proper protocol to by pass the current Management company and go directly to the Board members.

Sometime the boards get curious and want to see what is available to them in today's marketplace. Of course, I would like to submit a proposal,
however they have not requested one and this is very competitive market.

Your experience and expertise is much appreciated.

Nicholas

TimB4 (Tennessee)
Posts: 21,061

Posted:

Nicholas,

I get unsolicited commercial e-mail in my e-mail all the time. I don't like it but it is a method of letting people know you are out there. Of course, it can also hurt you from getting business depending on how people react to the SPAM.

Another option is direct mailing. If the MC intercepts the mail, it might not go through. However, you might do better getting to self managed Associations and sell what you can do to lessen their burden.

Tim

NicholasS1 (Arizona)
Posts: 8

Posted:

Thanks Tim,
I will try to make that happen. I have sent over 50 letters with no reply.
Is there any suggestions how I can secure the email addresses of the board members?

Nicholas

MelissaP1 (Alabama)
Posts: 13,836

Posted:

I am confused on exactly what you own. Do you own a management company that specializes in HOAs? That seems to be what your saying. If that is the case, then the HOA's should be coming to you. Otherwise, those HOA's are most likely owner controlled and not requiring of your services.

If you looking to get into expansion, I'd suggest looking for local HOA blogs in the area. There's usually a website out there dedicated like this one to share the knowledge and complaints of HOA.

It would be a good idea to understand what your actually offering with your business. Not sure if you even know what you have...

Former HOA President

TimB4 (Tennessee)
Posts: 21,061

Posted:

Nicholas,

For e-mail addresses you will need to search the internet for Association websites and hope that they have them listed.

You should be aware that if I'm not looking for a service at the time I tend to throw out the mail or delete the e-mail. Well to be honest, I tend to delete the e-mail even if I am looking for the service because I hate unsolicited commercial e-mail, aka SPAM. I'm more likely to look at the mail if I am looking for the service.

Tim

JenniferM10 (Illinois)
Posts: 97

Posted:

Nicholas, you would probably be better off with traditional networking and meeting people in a business setting. It would be less "spammy" and probably yield better results.

Start a blog, get a Facebook page, join a BNI group.

NicholasS1 (Arizona)
Posts: 8

Posted:

Thank you for your replies.
I now own a property management company that specializes in HOA's only.
We are small and want to grow.
I'm with you. I don't want to spam anyone either, but trying to get around the current management company seems difficult.
I have been on the Arizona corporation commissions web site where they show the HOA properties name with the board of directors address and made 2 round of letters.
You never know who might be looking off the record.
Networking is good I'm looking for someone who has been in my shoes, how did you grow??
Thank you

JanetB2 (Colorado)
Posts: 4,219

Posted:

Hi Nicholas:

I would also recommend having a good website, including areas for the individual HOA’s you represent having their own small space regarding information they want posted. If you can offer the biggest bang for the buck and better service then you potentially will grow. Word of mouth is one of the best and less expensive advertisements.

🎯 You've read this entire discussion

Join the conversation with 50,000 HOA & Condo Leaders:

✓ Ask follow-up questions
✓ Share your experience
✓ Get expert advice
✓ Access 350,000 discussions

Create Free Account →

⚡ Takes 30 seconds

Already a member? Log in here