Community association management companies work with many groups, including condo, single-family, and large-scale communities. They help make sure these organizations operate a successful association while following all the legal requirements. Some of the tasks managed by a community management company include:
1. Administrative Tasks
Community management teams organize and complete many administrative tasks for residential associations. They maintain accurate records, address homeowner inquiries, and schedule board meetings. Managers help the association’s board coordinate where the meeting will be held and what needs to be discussed. During these meetings, management professionals can take detailed notes and make sure they are filed away properly or distributed to board members.
To help keep the community in good condition, management teams can schedule regular appointments with landscapers and other vendors. They may negotiate contracts with these service providers to take care of common areas like pools, parks, and fitness centers. Other services that managers oversee can include snow removal and community repairs. The team will also make sure vendor invoices are received and paid on time.
2. Financial Tasks
Financial tasks are a key part of community management, prompting some companies to offer financial-only management services for associations. This lets the board choose whether they want comprehensive assistance or a financial focus. If the association has an involved and willing board of volunteers, they may only need assistance with managing the organization’s finances. They can then hire a professional team to help them with assessment collection, audit preparation, and other monetary tasks.
Community managers also provide custom planning and budgeting services to cover community expenses. They help board members create a reserve fund for the association, which sets money aside for long-term projects or emergency repairs. Accurately forecasting future expenses and making a list of priority expenses supports the financial health of the association. It makes sure the community will have the finances they need without placing additional responsibility on the homeowners.
Accounting tasks also keep the association operating smoothly and efficiently. They include tracking payments, managing cash flow, and preparing financial reports. These reports prepare the association for possible audits and help the community understand how their assessments are used.
3. Compliance Tasks
Some communities with homeowners’ associations have specific rules regarding how a property should appear or where residents can park. Professional management companies help associations enforce these expectations. Managers will regularly visit the community to confirm that residents follow the set guidelines. If a homeowner needs assistance with compliance, the manager will work with them to resolve the situation. Community managers also oversee legal compliance tasks, such as making sure the association adheres to local and state regulations. They can review the organization’s governing documents and bylaws to check that they satisfy legal requirements.
4. Communication Tasks
Partnering with a community management company provides associations with communication assistance, keeping residents and board members informed and involved. Managers can distribute updates, newsletters, and meeting notices using emails or text messages. They may also provide a mobile application or an online community portal for residents to use. These make it easier for managers to send reminders about upcoming events, payments, or changes in community policies. They also allow residents to report any issues they’ve noticed within the area.
5. Project-related Tasks
If an association board needs to complete a large-scale project within the community, they can work with a professional management team. This team will help coordinate and supervise projects such as water loss remediation and infrastructure repairs. They may also offer funding guidance, which is beneficial if the project requires a loan. Some professional management companies even have dedicated project divisions, allowing associations to receive technical assistance while still having access to their regular community manager.
Hire a Community Management Professional
Community management companies are responsible for a wide range of tasks, from monitoring compliance to communicating with residents. They help oversee an association’s daily operations, freeing board members to focus on projects and activities that benefit the homeowners. Reach out to a community management company today to review their service offerings.