Companies HOAs are associations that govern their communities through a series of rules and regulations. These can be found in operating rules, CC&Rs or covenants.
The board is responsible for upholding these rules and enforcing them. The management company’s role is limited to sending letters and communications related to these rules as ordered by the board.
Choosing a Management Company
You need to choose a management company that works well with your community and will be able to handle all of your association’s needs. There are many different companies out there, each with a unique way of doing things and a specific set of skills.
Choosing the right company is important for your association’s success, but it can be tricky. Start by asking questions about the firm’s experience with your type of community and whether or not they have a good track record for handling emergencies.
Another key consideration is their financial management approach. You need a company that will be able to set budgets, help you monitor spending, and offer frequent reporting on your financial situation.
A good AMS system will keep member information safe, so you can rest assured that no one else has access to it. It should be PCI-compliant and provide firewall protection, encryption, password protection and data privacy features. Some AMS providers also offer an online event registration system that lets members register for events, collect payments and organize attendee data.
Choosing a Board of Directors
Board members are elected by homeowners within the community. They are volunteers who are not paid, and must follow the association’s rules. They are also responsible for protecting property values and maintaining the amenities in the community.
The board is also responsible for taking action when members of the community violate their governing documents, and tracking HOA funds to ensure financial stability. The responsibilities of the board are usually detailed in the governing legal documents, which were created at the community’s inception.
A management company can help make the board’s responsibilities easier by handling many of these tasks for them. They can answer questions from members regarding governing legal documents, meeting minutes, newsletters and architectural review forms, and provide guidance on basic HOA operations.
Boards and management companies can work together to improve the quality of life for members, increase community value, and ensure that the governing documents are properly followed. However, it’s important to ensure that both parties understand their roles and responsibilities to avoid miscommunication or potential misunderstandings.
Their community manager is experienced and certified to meet the day-to-day needs of your association. They will work closely with you and your Board of Directors to meet your goals while reducing your management costs and saving you time and money.
Cedar Management recently received the AAMC accreditation from the Community Association Institute (CAI). This is an honor that only a small number of community association management companies receive worldwide.
Choosing a Manager
If your HOA board members can’t handle the workload, or if they simply don’t have enough time to do all of their duties, you may need to hire a professional manager. A good manager will oversee many of the day-to-day tasks that boards have to complete, and will make sure all necessary paperwork is filed, reviewed, updated, and saved in the right place.
Aside from that, a great manager will also help you identify and deal with common missteps and problems your board might encounter. For example, they might be able to spot a vendor who’s overcharging your association for a certain service, or they can find a trustworthy firm that meets your specific needs.
Once you’ve identified some managers, interview them to find out about their experience and credentials. Pay special attention to communication and conflict resolution skills, and ask for references.
Choosing a Contract
When it comes to bringing in contractors for capital improvements and other projects, there are several must-haves you need to look for. One of the most important is a clear work scope.
Contracts must include this information, which ensures that the contractor abides by the HOA’s quality standards and is not able to charge you for additional fees or hire subcontractors.
Another must-have is a clear payment structure. There are two options: lump-sum and cost-plus.
A lump-sum setup involves paying a fixed price to the contractor for the work they completed, and is often preferable to a cost-plus arrangement.
Another must-have is a guarantee maximum price (GMP), which limits the amount that the HOA will pay the contractor in the event of problems. This can help prevent a contractor from asserting a lien against your association and individual units.
Community Management Group offers a wide range of HOA management services. Its goal is to help communities maintain property values, promote a positive atmosphere for residents and ensure the preservation of their Association’s financial health.
CMG provides exceptional customer service and a balanced approach to fiscal responsibility, cutting edge technology, homeowner education, and a positive atmosphere for all communities – from Single Family and Business Parks to Condominiums and Master Planned Communities.
In addition to their HOA management services, they also offer a number of other products and services, including marketplaces, crowdfunding, user groups, and user-generated content. This is especially helpful for companies that depend on user-generated content to create value for their products, such as GoFundMe or Airbnb. It is also useful for companies that want to engage their audience and customers in user testing and feedback discussion, such as in-person focus groups or user surveys.
