Effectively managing community associations can be advantageous for business growth. However, association management comes with its own set of complexities, especially when it comes to meeting boards’ expectations and maintaining transparency.
When boards are dissatisfied, they may look to another association management company or consider bringing management in-house, so it’s important to ensure their needs are being met.
Having all of your data in one place makes it easier to share key reports, maintain transparency, and keep your communities’ data secure.
Provides a better customer experience
Self-service, on-demand tools empower homeowners and board members to complete tasks on their own, boosting satisfaction.
Enables sustainable growth
When all of your processes and properties live within the same solution, teams can get work done faster so they can focus on going after new business.
See how you can lean on technology to automate routine tasks, improve communication, and meet your customers’ expectations.
Focus on these strategies to enhance your customer experience and build strong communities.
Clear and consistent communication is critical when it comes to keeping your homeowners and board members informed and satisfied. By implementing software that has mobile communication capabilities, such as text, email, and an association calendar, you can speed up response times and ensure everyone stays connected.
On-demand tools like architectural requests and reviews, online payments, maintenance requests for common areas, and amenity reservations can reduce friction and maximize convenience for homeowners and board members.
Provide board members with the visibility they need to understand the financial health of their association and make informed decisions with digital resources, including shared documents, customized reports, invoices, contracting bids, and assessments.
Managing multiple logins, tools, and user permissions for each kind of property you manage can make it difficult to have a strong pulse on your business performance. Instead, look for a single software solution to manage all of your property types that is purpose-built to deliver better insights for your entire portfolio.
Automate routine, manual tasks like collecting dues, sending mailings, and reviewing architectural requests, and use AI technology to help process invoices to save time and increase productivity.
With numerous associations spread out across different regions, you need to make sure your team can do their jobs from anywhere. Implement software with robust mobile capabilities, such as mobile violations and tracking, that free them to carry out their duties in the field.
Look for secure financing solutions that seamlessly integrate with your association management software to find loan options that best accommodate your needs — from covering repairs and upgrades to starting new construction for the communities you manage.
See how a centralized system for all of your business-critical processes can increase transparency and transform the way you work.Get Started
A community association is a non-profit organization that is formed by homeowners or residents of a common-interest development (CID) for the purpose of managing and maintaining common areas and facilities, such as roads, sidewalks, parks, pools, and clubhouses. Community associations are governed by a board of directors, which is elected by the members of the association.
Community association management refers to the services that are provided to associations of homeowners or residents. These services can include everything from managing the finances and budget of the association to handling maintenance and repairs of common areas. Community association managers are responsible for ensuring that the association runs smoothly and efficiently and that the needs of the residents are met.
A community association manager is a professional who manages the day-to-day operations of a homeowners association or condominium association. They are responsible for a wide range of tasks, including collecting dues, enforcing rules and regulations, and managing the budget. Community association managers must be knowledgeable about the laws and regulations that govern homeowners associations, and they must have strong interpersonal skills and the ability to resolve conflict.
Community association managers oversee the maintenance, operation, and financial aspects of condominiums, homeowner associations, cooperatives, and other types of residential communities. In order to become a community association manager, you will need a bachelor’s degree in business administration, real estate, or a related field. You will also need to have experience working in the real estate industry, and you will need to be licensed in the state where you plan to work.
A reserve study is a financial analysis of a homeowners association (HOA) or condominium community. It estimates the future costs of maintaining, repairing, and replacing common property items such as street lamps, roads, and community pools. The study is used to determine how much money the association needs to collect in reserves each year to pay for these expenses.
Homeowners associations should conduct reserve studies every three to five years to ensure that they have adequate funds to cover future repairs and replacements. This is especially important for older communities, as their buildings may need more costly repairs than newer ones. The reserve study should be conducted by a qualified professional who will assess the condition of the community’s assets and estimate the cost of future repairs. The results of the study will be used to create a reserve fund that will be used to pay for these repairs.
The Community Associations Institute (CAI) offers the Certified Community Association Manager (CCAM) designation. To qualify, candidates must meet education, experience, and testing requirements. Education requirements include a bachelor’s degree in business administration, real estate, or a related field or 10 years of experience in the community association industry. Experience requirements include five years of experience working in a community association management position. Testing requirements include passing a written exam and an oral exam.
A homeowners association (HOA) is a private organization run by homeowners that manages common areas and provides services for a subdivision, condominium, or other residential community. HOAs typically collect monthly dues from homeowners to pay for maintenance and repairs of common areas, such as roads, sidewalks, and landscaping. They may also provide amenities such as pools, clubhouses, and security. HOAs are governed by a board of directors, which is elected by the homeowners.
The term of office for HOA board members can vary, but it is typically between two and four years. Board members may be eligible to serve for multiple terms, but there may be limits on the number of consecutive terms a board member can serve.
The number of board members on an HOA typically varies depending on the size of the community. For smaller communities, a board of three to five members is common. For larger communities, a board of 7 to 9 members may be more appropriate. The number of board members should be sufficient to ensure that all aspects of the community are represented and that there is enough diversity of opinion to make informed decisions.
Good HOA board members are those who are committed to the community, have a good understanding of the HOA’s rules and regulations, and are able to work effectively with others. They are also willing to put in the time and effort to make the HOA a better place for everyone.