HOA Management Companies: A Practical Guide for Homeowners Association Boards

With a great HOA management company, your homeowners association will flourish. With a weak one, your association will struggle. Without one, you need to be a jack of all trades—and an informed one at that.  It's not easy finding the best HOA management company you can afford. You need one that fits your association's lifestyle and members' needs. You also need to be sure you're paying "the going rate" or better, instead of being nickel-and-dimed to death. Once you've nailed down those two tasks, you need to be sure your contract with your HOA management contract memorializes the promises the management company made to you during the bidding process and protects your association from surprises. Finally, you need to know how to handle an HOA management company that's not meeting its responsibilities.  And if you're a member of an HOA board of directors that's decided to manage your association without the aid of a management company, you need to know the rules you should live by to reduce your association's legal exposure—and your personal legal risks as a director.  In this exclusive HOA management special report, we offer insight and guidance on every one of these issues—and many more. We provide tips on finding a good property manager and determining whether you need an onsite manager, must-have and must-not-have contract language, and tips for responding when your management company isn't doing its job, including guidance on when to cut ties or work toward a better relationship. We also educate going-it-alone boards on best practices for self-managed homeowners associations. All of this comes from HOAleader.com's expert contributors who've devoted their careers to serving and advising associations. Governing documents and state laws vary, but this information will serve as a foundation for your HOA board to work through your relationship with your management company or work without one safely and smartly. Download now »

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Table of Contents
HOA Governance: Making the Outside-Managed vs. Self-Managed Decision		2
5 Rules to Live By for Self-Managed Homeowners Associations		4
Do You Need to Hire an On-site Manager for Your Homeowners Association?		7
7 Tips for Choosing the Right HOA Management Company		10
5 Questions to Ask Your Manager about Your Homeowner Association's Finances		13
5 Must-Have Clauses in Your HOA Management Contract		15
HOA Management Contracts: 5 Cause-for-Pause Clauses		19
Best Practices for Working with Your HOA Management Company		23
4 Tips to Get Top Service from Your HOA Management Company		25
9 Responsibilities HOA Boards Shouldn't Delegate to a Manager		27
Why Your HOA Board—Not Your Manager—Must Authorize Liens		30
Does Your Management Company Have Conflicts of Interest?		32
HOA Management Fees: Beware These Questionable Fees; How Your Association Can Address Them		35
Should You Fire Your HOA Manager? 5 Tips on How to Decide If It?s Time		38

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Courtesy: HOALeader.com
http://www.hoaleader.com/public/568.cfm

This article is not intended to be specific legal advice. It only provides general legal information. You should consult a licensed attorney if you have a legal issue.