An association management company (AMC) proffers administrative services to profit or non-profit organizations. It helps manage an organization’s day-to-day operations and acts as their public face. Such companies help lighten the load of managing an organization.
However, hiring an AMC isn’t as easy as it sounds. It’s a little complex because there are many moving parts to be considered. You need to conduct thorough research in order to hire the best one that’ll fulfill your requirements.
Here are some things you need to know about hiring an AMC:
#1: Know Your Needs
You won’t have a good time trying to hire an association management company when you don’t even have a complete idea of your organization’s needs. Can you imagine going to a market without a list of things you need to buy? That’s exactly what it looks like. You might end up buying what you don’t need and leave out what you actually do need.
Why are you hiring them? What gaps do you need them to fill in the management of your organization? These are some questions you can ask yourself to help determine your needs. Also, don’t forget to meet with other members to discuss it and know what exactly you need.
#2: Know Their Values
Every company has its own set of values, which drives everything they do. That said, you have to hire an AMC whose values align with your organization’s set values.
You may decide to send a proposal first to your prospective company, which is fine, but try to research whether there’s an actual chance or possibility that they’d ever want to work for you. Remember that you’re not only putting your values into consideration, but also theirs.
Ensure that the company you’ll hire is well-committed to values like honesty, respect, and other attributes that are important to you.
#3: Check Certification And License
You have to be sure of an AMC’s authenticity. Some states do require an AMC to be licensed or accredited. If this regulation applies to your state, ensure that the AMC you want to hire is accredited. But, even if the rule doesn’t apply to your state, you should still go for an AMC that‘s government-registered. This will help increase your level of trust in their services. Also, a licensed AMC is more likely to be well-trained.
#4: Know The Quality Of Their Service
When hiring an AMC, you should prioritize the quality of services over price. Most people are usually tempted to consider the latter before any other thing. Although this is quite understandable, but shouldn’t be at the expense of the services being offered.
While doing your research, go over the quality of their services, first and foremost, above all other points of consideration. It’s only after carrying out this step that you check out the costs of such offerings. This will help you make the best AMC choice for your organization.
#5: Know About Their Maintenance Management
This is especially important if you’re running a homeowners association. The AMC you pick should be able to help you with maintaining the community.
If one of your needs is maintenance-related, you should pay crucial attention to their maintenance management process. How well do they handle similar matters? What processes do they follow? You have the right to know all of these before you eventually hire an AMC for your organization.
#6: Know Their Managers
AMC managers are usually intermediaries between your association and the AMC. Therefore, you must do some research to find out how well their managers perform. Do they have excellent communication skills? They have to be competent, responsible, and people of integrity. Such characteristics would be instrumental to the growth of your association.
#7: Know Their Screening Process
If you’re hiring an AMC for your homeowner association, you should know about their screening process. Tenant screening is one of the numerous functions of an AMC to a homeowner association. It’s the process wherein they help property owners evaluate potential tenants. They look out for how suitable the tenant is for the property. They also help assess concerns such as the following:
- Would the tenant comply to the terms of the lease?
- Would the tenant take care of the property in question?
In addition, you should know if AMC`s screening procedures align with your goals and plans for the properties. However, this isn’t restricted to homeowners alone. If your association requires the services of an AMC for a screening process, then you should know more as to how they go about it
Conclusion
Association management companies run with different prices and values, so you must ensure that such factors align with the goals and objectives of your organization. Also, ensure they’re licensed so you don’t fall into the wrong hands. Pay attention to the checklist above to get the best AMC for your business.
