Evaluating Management Companies for 211 home HOA

2 Replies

Looking for online resources, forums, guides, templates for evaluating alternative community management companies against our entrenched one, Would appreciate any guidance on where to start as I just was volunteered to get this initiated. 

My thanks in advance! ~ John

Depending on how big your association is, it may be worth considering a CAI membership.  There are CAI partner companies and you can search for firms with managers that have their CMCA, AMS, or PCAM designations.  There are also lots of great articles on CAI about finding and selecting a good management company.  

Just remember that if you're not hiring an onsite manager, you're hiring a portfolio manager who will be managing other properties. Don't expect that they will handle every single detail of the property for the board; it's a partnership.  Feel free to reach out with any questions you may have.

@John Krischer

In Illinois there are different publications that cater to co-op living; 1) Condo Lifestyles 2) Chicagoland Cooperator. Those publications are chalk full of info - see if there is something like that similar in your area.
Regarding management, there is no formula. Best thing to do is contact other HOAs in the area and speak to the President of the HOA and get their opinion. A dissatisfied President will always be the first to tell you who's good and who isn't or what to not expect, etc. good luck.

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Join the Largest Real Estate Investing Community

Basic membership is free, forever.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.