An Article Written By Lisa Miranda
Finding the right management company can be tough. But just like anything you do in life, there is always a recipe! A recipe or list of items which you NEED in order to make the right decision or dessert!
Ingredients
- Community Management
- Customer Care
- Financial Services
- Technology Support
Preparation
1. Community Management is the first key element to this mixture. How will the management company service your community to ensure all aspects run smoothly? Preparation and organization of board/annual meetings is a must! Most associations request this to be a monthly procedure however depending on your requirements this can be adjusted. The purpose of board meetings is to discuss topics within the community and create resolution. A good management company notates these items (often referred to as a manager’s report) and provides the board with the proper tools so board member can track the progress.
Which we will talk about more later! The community manager assigned to your association will also need to care for and keep oversight of common areas and landscaping to ensure the community is always looking at its best. Which brings me to the next topic, Covenant Enforcement. The purpose of community inspections is to ensure all homeowners are abiding by the governing documents of the community. The manager is expected to inspect the neighborhood and send violation letters to those who do not abide by the association's covenants. Overall, this will protect the property value of homes!
2. Customer Care is very important and determining what kind of service residents will receive is crucial. Questions you will need to ask come in variances. What kind of training/certification is required for managers and administrators to perform their duties? You want to ensure managers are Certified in CAI or pursuing such certification. If a resident contacts the office to express concern, who will they be speaking to? Let’s hope not a machine! If the individual is not available at the moment what is the turn-around time for contact? What if an emergency happens after office hours, who will homeowners contact?
Tip:
A good management company ALWAYS has a backup plan, such as an on-call individual for emergencies.3. Financial Services for the board? When will the board receive financial reports? Financial reports give a clear understanding to the needs of the community. Many management companies have a web based software system which allows the Board to view their financial information anytime from any location. Will that include the bank statements? Ensure the management company you choose has this! Are the invoices viewable by the board of directors and how long are they kept? Is the bank local and how can homeowners make payments? What account practices protect against making payments in error? What insurance does the association have that protects against theft? What steps does the management company take for delinquent owners?
Tip:
Financial services are a big deal. When you have your finances in order you are able to control your future!4. Technology Support is meant to make life simple for homeowners! Is there a community website available for making payments and submitting work orders online? A great homeowner tool that management companies need to provide your association would be with an owner’s portal. Technology was invented to make life simple! Who wouldn’t love to view/manage their account, pay assessments, submit work orders, and fill out ACC Request/clubhouse rental forms all via web? Of course other individuals prefer paper copies which are a request that can also be catered to. You have got to ensure residents are taken care of, but what about the board? What kind of programs are available to the board? The management company you select must be equipped with up-to-date programs to be able to provide boards with simplicity to their requests. One program that boards should ensure the management company has available is for project communication. A program as such serves as a tool to provide board members status updates on the progress of action items keeping the board involved every step of the way!
Tip:
As cliché as it sounds, communication is key! The management company of your choice needs to have strong communication response. Items such as amenity access, ACC requests, and online assistance can be very time sensitive and should be handled with care!
Ready At the Completion of the Checklist!
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