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Time for Change!  

 

Choosing an Association property management company is one of the most crucial decisions that a board of directors can make. Sometimes, change is the best thing a board can do.

 

With a professional HOA management company handling administrative services, the board members can focus on more important community matters. Administrative services may include:

• Answering phone calls, texts, and emails from board members, homeowners, and vendors

• Maintain the HOA database of homeowners and vendors

• Enforce HOA rules and regulations

• Send invoices, reminders, and newsletters to homeowners

• Process violations, fines, late charges

• Collect architectural review applications and forward them to the board

• Maintain the HOA website and homeowner portal

• Coordinate HOA common area schedules and reservations

• Create a customized personal package for your Community.

FINANCIAL MANAGEMENT

A major responsibility of the board is to ensure the financial stability of the association. This can be extremely difficult if board members don’t have experience with financial management. It helps to have an experienced and knowledgeable management team handling financial tasks, including:

• Maintaining financial records (ledgers, balance sheets, reconciliations, income statements)

• Manage community bank accounts, reserves, incomes, and expenditures

• Prepare annual community budget, tax returns, audit reports, and other financial documents

• Schedule and coordinate reserve study

• Collect community dues and monitor delinquencies

• Ensure proper insurance coverage for community.

THE PROS OF HIRING A FULL-SERVICE MANAGEMENT COMPANY

• The board can learn the best management practices and free their time for important issues

• Teams of skilled experts to manage communication, maintenance, finances and vendors

• Access to a wide range of resources, connections, and professionals

• A third party can work as a mediator of conflicts and deter fraud

 

Making it Better

Is your current Management non-responsive?  There is hope. Board members can become more efficient and effective leaders, we are the consultants that can help your leadership team. We will conduct a full review of the community and examine your financial records and governing documents. Then, after careful analysis, we can give the board details on how to improve their effectiveness.  

So, is it Time for a change?  Contact us today at Association Advisors Management Group.