Top Community Management Companies

HOA management companies usually charge a monthly fee per community, often worked out per unit, for a defined list of core services. Extra meetings, collections, resale certificates, mailings and project oversight are typically billed from a separate fee schedule, so compare the total, not only the base fee.

Community management serves an association of owners and works for its elected board, while property management serves a single landlord or investor who owns the units. A community manager handles assessments, governance and common areas, whereas a property manager handles tenants, rents and leasing.

Ask how many communities the assigned manager handles, how association money is held, and for a sample monthly financial report. Also ask about manager licensing, fidelity insurance, the full fee schedule, response times for residents and the contract's termination terms.

An association switches management companies by giving notice under its current contract, signing with the new firm, and planning a transfer of records, bank accounts, vendor contracts and resident data. A clear transition checklist and a handover date in both contracts help avoid gaps in billing and vendor payments.