Community developers have fiduciary and other responsibilities that lead them to make changes that make significant financial and social impacts on the community. Professional community managers and teams from community association management companies help developers and HOA and COA boards by offering administrative and operational assistance. They serve as third parties that provide information about best practices for the community. Here are several ways community association management and community developers work together:
Contents
Community Guidelines
Community association management companies help community developers manage their communities. Community management includes implementing and enforcing community guidelines. A community’s governing documents, such as the rules and regulations, establish community obligations, expectations, and guidelines. These guidelines include items such as:
- Pet policies
- Parking regulations
- Exterior maintenance
The community rules also include guidelines concerning common property, such as park hours of operation. Homeowners are expected to comply with the community guidelines. A management team can assist with enforcement by regularly visiting the community. Site visits help verify whether community members are following the guidelines.
Community Communication and Resolution
Encouraging homeowners and residents to be actively involved in the community allows them to voice community needs, be involved in the decision-making process, and build a stronger sense of community. Community participation includes attending budget ratification or board meetings, taking part in local events such as block and holiday parties, and following community covenants. Clear communication allows homeowners to be aware of local events and project schedules and improve compliance. A management team assists developers with community communication by sending out detailed notices with up-to-date information. This may include digital communication such as emails, texts, or app notifications for greater convenience.
There may be times when homeowners are not compliant with community rules or pay their assessments on time. There may also be disputes between homeowners or complaints about maintenance or policies. Community managers assist community developers with conflict resolution and homeowner compliance. The management team sends letters to non-compliant homeowners to make them aware of the situation, and they provide delinquency resolution to settle situations while maintaining the integrity of the covenants.
Community Finances
A community manager works with a community developer to manage financial obligations. A community’s financial obligations include insurance claims after unexpected loss and special loans and assessments. Assessments, or dues, refer to the fees that homeowners pay to the COA or HOA association to cover costs. Depending on the management company, a team of accountants may be available to assist with record keeping and track expenditures and cash flow.
Budget planning includes forecasting costs, finding areas to save costs, and planning repairs. Association budgets are usually divided into operating expenses, reserve fund contributions, assessments, and miscellaneous income. Operating expenses refer to ongoing costs connected with the maintenance and operation of common areas and amenities, such as lawn maintenance. Reserve funds are accounts that are utilized to save money for significant facility or common area repairs. Collaboration on budget design and management allows community finances to be appropriately distributed to meet the needs of the residents.
Community Common Areas
Community areas refer to items or spaces that most or all homeowners are able to access. This includes common areas, amenities, and shared buildings. Common elements also refer to roofs, hallways, walls, and elevators. Larger amenities, such as pools and play structures, and smaller shared spaces, such as decks, require upkeep and maintenance. Common amenities such as clubhouses provide spaces for residents to meet their neighbors and connect. Well-maintained areas also help increase property values.
Community association management and developers can work together to oversee and maintain these community spaces. Amenity upkeep needs should be identified and incorporated into the community budget. Property management companies or contractors may be hired for regular maintenance.
Community Project Management
Flooding, maintenance demands, or new amenities often require large-scale projects. Developers collaborate with the management team on project coordination. A management team can provide hands-on support, including assistance navigating insurance claims, large-scale remediation management after water loss or damages, unexpected loss coordination, mitigation oversight, and reserve project communication. This support helps keep projects on track, preventing delays. Project management support also allows for clear communication to be provided to members of the community, keeping them informed of progress.
Find a Community Association Management Company
Community association management companies can provide full management support, taking care of day-to-day community operations. This allows developers to focus on other obligations and larger projects. Look for a company that offers services such as financial report organization, meeting coordination and minute-taking, vendor management, insurance management, legal service management, and HOA dues collection. If you do not require full management services, on-demand management services or financial-specific services may be available.
