Community association management companies specialize in managing small to large community associations. This would include communities that have home owner's or property owner's association. Community association management companies work side by side with the homeowner association in performing all the tasks necessary to have the community running smoothly and within budget. A management company will typically perform annual budget reviews, coordinate all common area maintenance and upkeep, facilitate homeowner's board meetings, collect association dues, and make sure all residents are within compliance with the CC & R's of the community. This can be a very demanding job and should only be perform by companies with the experience and expertise to take on these types of properties.
Community association management is becoming an increasingly more challenging and highly competitive field. With per capita population growing in the mid-size to large cities in America, millions of new condominium and residential housing units and developments are being built to accommodate this growth. So why not outsource your community property needs to the experts? The level of professionalism and need for technology your property management company should deliver makes selecting the best more complicated than simply choosing a name and address from the phone book.
Some duties of a Community Association Management team
Usually hired by a volunteer board of directors of the association, they administer the daily affairs, and oversee the maintenance of property and facilities that the homeowners own and use jointly through the association. The management team will prepare financial statements and budgets for the community as a whole. They interact with homeowners and tenants on a daily basis, and can help resolve complaints amongst resident. Collecting association dues or assessment payment from property owners is a common duty of a management company. They will also assist the board of directors in making sure everyone within the community is in compliance with association and government rules and regulations.
In addition to administering the associations financial records and budget, the management companies may be responsible for hiring and coordination of contractors for any major renovation or repair to exterior buildings and common structures. This could include maintenance of community pools, golf courses, community centers, and for the maintenance of landscaping, street lighting, snow removal and parking areas. These types of property management companies also may meet with the elected boards of directors to discuss and resolve legal issues or disputes that may affect the owners, as well as to review any proposed changes or improvements by homeowners to their properties, making sure that they comply with community guidelines.
Things to look for in a community association management company:
Proven track record of managing planned community properties
Years in the business could show reliability and a proven track record
This is a very specialize facet of property management and requires specific qualifications and training
Is their current portfolios within budget and running smoothly, or are there major issues such as financial problems or rundown communities under their management
Accurate bookkeeping and records
Timely response in dealing with issues that may arise
Enforcement of Covenant, condition and restrictions (CC and R's) for the community they manage
Enforcement of HOA dues collection
These are just a few important criteria's to gage the success of a community association management company. A thriving planned community will be in harmony, beautifully aesthetic and an asset to all that live there as well as for the surrounding neighborhoods.
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