If you are looking to purchase a home in the near future, there is a one-in-five likelihood that you may purchase one within a homeowners association. A homeowners association has its pros and its cons, its purposes and its problems. Below we will take a brief look at what it is all about.
Posts Tagged ‘ Association Management ’
In real estate, the terms property manager and community manager are often confused. They perform similar jobs, but the differences are major. Both types of management help with the functionality of building complexes, like apartments, but which kind do you need? Let’s take a look at each.
Proper and efficient association management requires a continuous focus on leadership. You must cultivate leadership and participation by implementing strategies to build a stellar board bench. Keep in mind the principles of the organization and what traits people will need to have to help ensure the ultimate prosperity of the group. (more…)
All organizations, whether non-profit or for-profit struggle to find and set an appropriate budget. No matter the tax status of an association, staying viable is typically essential! A critical part of association management is the annual budget creation process. While the annual budget might seem like an annual headache, it is absolutely essential that you create a budget with transparency, efficiency, and accountability in mind. Here are some of the considerations that you need to make as part of your association’s annual budget creation process. (more…)
Choosing the right property management company to take care of the investment you’ve made in your property is one of the most important decisions you will make. While managing properties on your own is sometimes a good decision, many times it’s just too overwhelming. If you don’t take the time to properly interview your property management company candidates beforehand, you could end up with your property in the wrong hands. (more…)
It is a tale as old as time, sometimes the people we hire for certain services add superfluous hidden fees for things we may not even understand. In real estate, it is no different. If you are looking to hire a property manager to handle landlord responsibilities, it is important to look out for sneaky fees that may end up significantly reducing your profit. (more…)
Real estate owners of developments or planned communities find it very beneficial to work with an association or community management service. Management services offer a great deal of expertise, but it’s important to fully realize what is expected of association management and what isn’t. When there is a board of directors involved with running an association, what roles are better handled by the board than management? (more…)
The New Year is about new beginnings. Sometimes this is good. Sometimes this is troublesome, especially when you aren’t prepared. As the calendar flips to 2015, homeowners associations are met with new challenges, specifically budgeting for the New Year. What takes priority? Where do you even start?
First and foremost, remember that the budgeting process is a marathon, not a sprint. You don’t gain extra points by rushing to the finish. In fact, it is far better to be meticulous and ensure you have all of your bases covered. This means research, research, and more research. As they say, knowledge is power. And the more digging (research) you do into past finances, the more knowledge you gain, the easier and more accurate the budgeting process will be.
Of course, no one said you had to do it all on your own.
How Association Management Can Help You Budget for 2015
Budgeting for a homeowners association isn’t an easy task, especially when you consider that most of the officers responsible are little more than volunteers. They are homeowners who are volunteering their time to help make their neighborhood the best it can possibly be. Unfortunately, while this is very admirable, it doesn’t always mean these associations are staffed by the most qualified individuals (is there a doctor financial advisor in the house?). This is why many HOAs turn to professional association management firms, like Clagett Management. Our Skyline II property management software includes full general ledger functions, budgeting information, unit owner information, and delinquency reporting sections that allow us to easily budget for the coming year and track expenses throughout 2015, which will make budgeting for 2016 even easier. We are also a member of the Community Association Institute, an organization for management professionals, making us uniquely qualified to serve your homeowners association’s needs.
Click Here to request a proposal.
Hiring an association management company can mean the difference between the success and failure of your HOA, especially in larger communities.
There are more than 231,000 community associations throughout the United States. These associations are staffed with volunteers – homeowners – who are entrusted with the governance of their entire community. It’s an enormous job with a lot of responsibility. As you can probably imagine, it can be incredibly stressful as well. This is why countless community associations turn to companies, like Clagett Management, to help make their jobs much easier.
Association Management Services in Frederick
Headquartered in Frederick, Maryland, Clagett Management is a proud member of the Community Association Institute, an organization that provides information and education to community associations and the professionals who support them. This relationship, along with our professional staff, makes us uniquely qualified to serve your association’s needs.
Click Here to contact one of our experienced association managers today!
What makes Clagett unique?
Our association managers make it a point to work with every member of the community association, not just the board of directors. This gives us a better understanding of the community as a whole, allowing us to better serve every member of the community, not just those in charge. And when the board changes from year to year, we will provide a consistent level of service in orienting new board members and in maintaining existing programs.
What services does Clagett provide?
- Site inspections
- Attendance at board meetings
- Monthly reporting
- Budget preparation
- Newsletter preparation
- Small claims court collections
- Special mailings
- Architectural enforcement
- Development & enforcement of rules & regulations
Is Association Management the Right Move for My Community Association?
While comprised of volunteers, a community association must act like a business, making important financial decisions throughout the course of a year. And, in many instances, these associations find themselves in over their heads. That’s where an association management company can help, providing the knowledge and expertise that is crucial to the successful management and operation of community associations.
If you have any questions and Clagett’s Association Management Services, please contact us at (301) 695-6676 or Click Here. You can also connect with Clagett on Facebook, Twitter, Google+, Pinterest, and YouTube.