Community management companies promote the well-being of members in the communities they serve. They can tackle all the complex details associations may not be able to. Here are the tasks community management companies can handle.
Administrative Tasks
Community managers enhance efficient communication between members and the board. These managers receive inquiries from residents and forward them to the board for discussion. They also respond to external correspondence from prospective property buyers or service providers.
Community managers prepare reports and present them to the board. Remember, board members are community members with independent lives, and keeping up with all minor details can be challenging. The reports keep the board on top of important community issues and allow the smooth running of the association, promoting community well-being.
Finances
Proper financial management allows associations to have the money needed to maintain their communities. Here are some tasks a community manager can help you with:
- Assess your financial position
- Prepare and report financial statements
- Prepare budgets and forecasts
- Compare budgets and actual incomes and expenses
- Pay invoices
- Collect resident fees
- Take action when members refuse to contribute
- Collect fines
Managers are responsible for the resident fees. They follow community guidelines when using the money for transparency and accountability. Associations can meet their obligations without increasing membership charges.
Contracts
Communities work with service providers like janitors, roofers, and landscape contractors. These service providers promote properties’ safety, functionality, and aesthetic appeal. Some may not do what they’re supposed to do on time.
That’s where a community management company comes into play. The company assesses contracts with service providers, so they honor their obligations. You don’t have to worry about following up with vendors since your management company can do that on your behalf.
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Management companies assess vendor performance at the end of the contractual period. This helps them decide whether to renew contracts or find different service providers. Either decision helps you build the best environment for community members.
Community Policies
Community management firms create rules and regulations to maintain order. They handle misconduct cases to keep community members in check. Managers can also serve as arbitrators and resolve disputes among residents.
While they can handle most cases internally, they may forward others to law enforcement. For example, theft cases may be too complex to handle without external help. This promotes peace and security within the community.
Management companies can amend laws to maintain a community’s lifestyle. They involve residents, so members know when the rules change. This builds a foundation of trust and promotes integration.
Inspections
Community managers inspect properties, so they comply with existing rules, promoting uniformity and safety of all residents. Managers and the board also decide how to handle property violations. Most start by sending notices to property owners explaining their violations. Some even offer solutions to make work easier for property owners.
If the notices fail, they prepare hearings to determine the best course of action. Then, they may fine or suspend non-compliant members, depending on a community’s guidelines.
Managers inspect common areas such as community swimming pools and oversee their proper maintenance. This promotes community well-being, allowing residents to thrive in safe environments. Proper maintenance can also increase property prices, delivering value to homeowners.
Meetings
Managers coordinate meetings with the board to discuss community issues. These may involve upcoming projects and ways for an association to remain stable.
Managers address time-sensitive matters between meetings so they can send emails before the scheduled meetings. They handle annual community meetings with homeowners. These meetings focus on an association’s achievements, challenges, and plans.
Managers prepare all the necessary documents and send meeting invites. They receive confirmations and determine whether they meet quorum requirements. If they do, an association can proceed with their meeting; if they don’t, the managers can schedule another meeting.
Community Management Companies Streamline Operations
Community management companies are the helping hand every association needs. These companies handle administrative tasks like answering inquiries and preparing reports. They also provide services like collecting member fees and paying invoices.
The firms supervise service providers and renew their contracts. They create rules and regulations, conduct inspections, and prepare meetings. Handling these details improves residents’ quality of life and increases property prices.