Homeowner associations (HOAs) are perfect for the residents of Puerto Rico. The tropical island is built on tourism and expats looking to enjoy the climate.
Roughly 741,000 Puerto Rican residents are over 65 years old. This accounts for 22% of the population and makes it the 10th oldest in the world.
Association management companies (AMCs) are popular with the elderly, as they take care of all the exterior maintenance for members. This means residents no longer need to cut the grass, rake the clippings, or fertilize their lawn.
Read on to learn how to find a reputable association management company. Explore why company referrals and reviews are the perfect way to start your search.
Company Referrals and Reviews
The first place to start is by asking for professional referrals. There are many HOAs and independent contractors in Puerto Rico who can point you in the right direction.
Professionals are a great resource because they work directly with these companies. If they have a poor reputation, they likely know about it.
Another way to find a reputable association manager is to search for company reviews. The internet is a powerful tool for learning about a company.
You can read customer testimonials that detail their interaction with an AMC. Specifically, you should look for negative reviews and see how the company handled these situations.
Identify Essential Services
Before entering a service contract, it is important to make sure the company offers what you are looking for. Each association has different needs, and a full-service management company is the best fit.
For example, many associations are looking for maintenance management. They need a company to schedule exterior maintenance like mowing and seeding. Also, they may need to perform preventative maintenance on major items like the roof and cooling system.
Depending on the amenities offered in the community, other services may be necessary. If there is a swimming pool, the association manager needs to arrange for cleaning and treatment. They will also have to staff a lifeguard and make sure the pool is tidy.
You may also want to hire an association manager with a system for dues collection. Also, when members do not pay dues, it is necessary to have a manager with experience in dealing with these situations.
There is a process for fining and ultimately removing members who do not pay their dues. The association manager must prepare fine letters and pursue an HOA lien if the situation does not improve.
Consider Your Budget
Lastly, you want to find a company that fits within your association's budget. Ask prospective association managers for a price quote.
The quote should be detailed and include separate costs for each service. This way, decision-makers can add or remove services to fit their budget.
Your Guide to Finding a Reputable Association Management Company
You are now ready to shop for an association manager. This hire will help make your community run more efficiently.
As part of a franchise that's been around for more than 20 years, PMI Puerto Rico has the experience and reputation to meet your association's needs. If you want to hire a reputable association management company, contact us today to speak with a professional.
