Successfully running a Tacoma HOA takes a village. From the HOA board to the management firm and from the local vendors to the residents themselves, there are a lot of people supporting the success of a Tacoma community. If you’re in need of reliable and quality vendors that you can rely on for maintenance, landscaping, and more, make sure that you follow these steps and consult your HOA management company.
Determine your budget
Smart money management is the responsibility of every HOA board, and that includes setting appropriate budgets for vendor fees. Make sure that you allocate an appropriate amount of funds to take care of the task that needs doing, and find a vendor that quotes you for a price within that set budget. Check your bylaws, consult with all board members, and make sure all financials are signed off before going any further.
Employee vs. independent contractors
Next, you’ll need to decide whether you want to hire an association employee or an independent contractor. This will likely depend on the type of vendor you’re searching for and the nature of the work that needs to get done. Both options have their advantages and disadvantages, both functionally and financially, so work with the rest of the HOA board to make the best decision for your particular community.
Collect quotes and references
You need to exercise due diligence when deciding on which vendor to hire to get the job done. There should be an interview process before selecting your vendor, during which time you should collect ample project quotes and references. Verifying the quality of their work through third-party reviews, word of mouth, and testimonials will help you make sure that you’re guaranteeing a job well done. Verify their licenses, insurance, and credentials as well to make sure that the HOA isn’t liable if any accidents occur on the job.
Get it in writing
Once you’ve selected your vendor, draw up a written contract and ensure it’s signed by both parties. The contract should outline the duties that the vendor is expected to perform, the timeline in which they’re expected to perform them, and the payment they’ll receive as compensation. If needed, have your lawyer or HOA management firm review the documents before you sign them in order to ensure that they protect the interests of your community association.
Ask your HOA management firm
If you want to streamline the process of hiring vendors for your community association, ask your HOA management firm for their trusted companies. The Management Trust’s Trusted Partners program was created with this scenario in mind, offering a reliable source for high-quality vendors that are assured to get the job done well. Our better vetting process only accepts vendors who deliver high-quality services, in a cooperative manner, for a fair price into our program. We provide a $2,500 client satisfaction guarantee for work performed by our enrolled vendors, and we have full contractor liability insurance coverage. Bringing together great vendors and HOAs that need their services is essential in fulfilling our mission to create the best community associations in the country.
With more than 30 years in the industry and over 1,500 communities successfully managed, we have the expertise to guide you in all aspects of community association management, including vendor sourcing. To find out more about our comprehensive HOA management services or our Trusted Partners program, give The Management Trust a call today at (253) 472-0825 or fill out our online contact form.