Choosing the right vendor for your HOA community comes with hours of research, dozens of phone calls, and important talks with your board and your residents. There’s a lot to consider, including costs, risks, reputation, and more. Let’s take a look at what to consider when choosing HOA community vendors.
What to Look for in an HOA Community Vendor
Knowing what to look for in a vendor, asking important questions about the contracts, and weighing the pros and cons of each candidate can help you make the responsible and cost-effective decision your HOA needs. Look for:
- Insurance that protects them as well as your community from any damages or mistakes.
- Proper credentials and licenses. Anyone that’s working in your community should have evidence that they know what they’re doing.
- Vendors with a good reputation. Look over their website, social channels, review sites, and BBB profile. Online opinions can show you how reliable, transparent, and easy to work with vendors are or are not. You also want to see if they’ve worked with other communities and reach out to them for more insight into what those vendors are like to work with.
- A great interview. You should meet with potential vendors and hold an interview like you would for any job you had an opening for. Do they show up on time? Do they give competent responses to your questions? Are they taking notes and attentive to what you’re saying? Do they ask questions and send over quotes or reports when they say they will?
How to Build a Relationship Between Vendors and the HOA Community
The key to any good relationship is to have great communication. HOA board members should:
- Tell homeowners about the contract, the vendor, why the board chose them, and the projects/timeline the vendor will be used for.
- Communicate with the vendor regularly to make sure you stay on top of the project and are aware of if any problems or delays arise.
If you have more questions about how to pick the right vendor for your HOA community and what to look out for, contact Prism Realty Management. We’re here to help manage your association and help your residents thrive in the community. Learn about who we are, the services we offer, and our process, then give us a call at 512-676-5842.