COVID-19 Considerations for Landlords and Property Managers

Posted: May 20th, 2020 | Categories:

COVID-19 stay-at-home orders and social distancing are important to slow the spread of the disease and ensure our medical system is not overburdened, but these disruptions can affect a landlord and property manager’s ability to care for HOA/COA homes and tenant-occupied properties. Furthermore, businesses have shut down, leaving many residents unable to pay HOA/COA fees, mortgage, or rent. COVID-19 considerations for landlords and property managers include balancing the need for income with the need for empathy during these difficult times and understanding new laws passed to protect homeowners and tenants. Consider Hardship Billing Options Associations’ budgets are created based on … Continue reading

Tips to Reduce HOA Violations

Posted: April 7th, 2020 | Categories:

No one likes homeowner association (HOA) violations. Board members don’t like to see people break the rules, residents don’t like being penalized, and HOA managers don’t like to play the role of the enforcer. But HOA rules are important for the overall success of the community. Many HOA rules cover noise, parking, holiday decorations, landscaping, or other elements of community life that ensure the HOA is a safe and respectful place for all residents. HOA rules are outlined in a governing document called the Covenants, Conditions & Restrictions, often referred to as the CC&Rs. The CC&Rs explain all the rules … Continue reading

How To Manage HOA Violations

Posted: April 7th, 2020 | Categories:

As a homeowner association (HOA) manager, dealing with violations is often the least enjoyable part of the job. Yet it’s also one of your most important duties. Your HOA clients are counting on you to help keep their community safe, peaceful, and welcoming to all residents. That’s why you need to know how to manage HOA violations. Whenever you acquire a new HOA client, ask to see a copy of their Covenants, Conditions & Restrictions or CC&Rs. This is a governing document that all HOAs must-have, which outlines the complete rules for the community. CC&Rs define guidelines for homeowners and … Continue reading

How To Manage Risks With Real Estate Lockboxes

Posted: April 7th, 2020 | Categories:

Are real estate lockboxes risky, and if so, how can you manage that risk? As an association manager, you may be responsible for implementing real estate lockboxes on sale properties within your clients’ association. While real estate lockboxes make it easy to manage properties, they do carry a certain amount of risk. Managing that risk means you can ensure your clients’ properties remain safe. It’s recommended that association managers understand how real estate lockboxes work so that they can advise their clients on security best practices. You can help your clients purchase more secure lockboxes, set the lockboxes up, and … Continue reading

7 Tips For Better HOA Financial Reporting and Management

Posted: April 7th, 2020 | Categories:

Financial reporting and management are key components of your job as a homeowner association (HOA) manager. Your clients depend on you to help them keep the HOA in good financial standing. This includes everything from day-to-day tasks like collecting fees and paying bills on the HOA’s behalf to assisting your client during annual audits and budgeting sessions. Every HOA is different, so each of your clients may have unique needs for financial reporting and management. Depending on the size of the HOA and its membership, your specific duties may be heavily involved in the association’s finances, or you may only … Continue reading

5 Advantages of Centralized Property Management

Posted: April 7th, 2020 | Categories:

As an association manager, it’s important to understand different models of property management. These models each offer unique benefits for different types of property management, from homeowner association (HOA) management to condominium association (COA) management as well as multi-family properties and turnkey properties. By understanding different ways to manage properties for your clients, you can adapt your business to provide superior service. One type of property management is known as centralized property management. Centralized property management offers several key benefits over decentralized property management. It can increase efficiency, reduce costs, and make property management easier than ever. For the right … Continue reading

Cost Of HOA Audits

Posted: March 6th, 2020 | Categories:

A homeowners association (HOA) audit can be expensive. Depending on your client’s needs, HOA audits cost between $4000 and $6000. This is because an HOA audit is a very thorough, time-consuming process that must be performed by a certified public accountant (CPA). However, the cost of an HOA audit is a valuable investment for any association, big or small. By understanding the true value of an HOA audit, you can help your clients through the audit process and ensure the long-term financial success of their association. Although HOA audits are expensive, they’ll end up saving your clients more money overtime. … Continue reading

Upzoning and What it Means for Association Management Companies and HOAs

Posted: January 16th, 2020 | Categories:

As a homeowners association (HOA) manager, flexibility is key. You need to be able to adapt to new situations and find creative ways to solve problems for your clients. Additionally, HOA managers must adapt to new municipal laws and other changes that affect their clients’ associations. Today, one of the biggest changes facing many HOAs is called upzoning. Upzoning can be a confusing concept, but it’s important to understand. Learning about upzoning will help you advise your HOA clients if, or when, this issue impacts their community. Additionally, upzoning may affect your association management business. Here’s a guide to upzoning … Continue reading

What to Know When Managing an HOA Full Contact Database

Posted: December 6th, 2019 | Categories:

anAs a professional homeowner association (HOA) manager, data management is a very important skill.  Managing an HOA requires you to organize your clients’ finances, vendor lists, maintenance schedules, resident fees, and more. In most cases, you will also have to manage a full contact database for the HOA. This can feel like a full-time job by itself. When managing an HOA full contact database, there are several things you need to know. A full contact database is a valuable resource when managed properly, but if you’re not careful, this data can become overwhelming and disorganized. Learn how to manage an … Continue reading

Keeping Association Management Data Safe From Unauthorized Users

Posted: December 6th, 2019 | Categories:

Data protection is important for any business. When you’re an association manager, it’s vital to protect your clients’ data to earn the continued trust of clients and to retain their business. Managing a homeowner association (HOA) or condominium association (COA) requires you to process a lot of private, personal information about your clients and the members of their association. This means you need to take extra steps to keep association management data safe from unauthorized users. Using HOA/COA management software makes it easier than ever to manage an association. However, the one potential downside to going digital is that your … Continue reading