Operating a Community Association by Young & Associates
Operating a community’s Association is very much like running a corporation. In many cases, Associations are just that: million-dollar corporations. The Administrative Management team led by its Property Managers, plays a critical role in the successful development of community associations. Having highly trained and experienced administrative personnel is essential to the effective and efficient operation of a Property Management company, which in turn is essential to the overall presentation and existence of a Community Association.
A true cornerstone of any successful business is a very closely managed administrative system; property management companies are no different. The primary administrative services of property management companies are responsible for creating monthly agendas, managing the file system, keeping fiscal records and oversight with insurance, legal documents and resolutions.
Preparation of Monthly Meeting Agendas and Packages
The Administrative team of Young and Associates will develop, implement and maintain a complete filing system of all the property management company’s documents and their official records of the Community Association. Files such as contracts, insurance policies and claims, financial records, year-end reporting, resolutions, legal documents, meeting minutes, and agendas are all maintained by the administrative team.
The Administrative team will assist in preparing notices and Board documentation as well as membership meetings and agendas in accordance with regulatory requirements. Also, the administrative team will compile all relevant documents for the monthly meeting into a community member’s package that is distributed at the onset of the meeting. This package contains data for homeowners to refer to about those items on the meeting agenda. In addition, the Young and Associates team coordinates and attends all the meetings and makes any specialized arrangements under the direction of the Board.
Rules and Regulations and Restrictive Covenants
All Community Associations have rules and regulations that are set in place outlining specific guidelines of the community that must be adhered to by all homeowners. The development of these rules and regulations, as well as any restrictive covenants, are accomplished by the members of the Board of the Community Association and are managed and monitored by Young and Associates.
It is the responsibility of our team to oversee all the Community Association rules and regulations and to streamline any concerns or complaints that arise regarding same. The Young & Associate’s Administrative team receives written and signed complaints about the violation of rules and must perform a thorough investigation of the complaint. All violations must be entered into our computer system and notices about the details of the violation must be sent out. We will report directly to the Board and will track all violations until they are fully resolved and corrected before closing them in the computer system. Monitoring and tracking complaints as well as enforcement will be monitored and reported on a consistent basis.
Reports On All State and Federal Regulations
All communities must adhere to the state and federal regulations that govern their existence.
It is the responsibility of the Administrative Management team, specifically those who comprise the financial sector of the management team, to submit proper quarterly or annual reports and efficiently report all changes to these regulations directly to the Association Board members.
It is imperative that these regulations are monitored closely since many state and federal regulations change. Changes in legislation, tax rules, court rulings, insurance changes, financial updates, are all examples of state and federal regulations that must always be closely monitored.
Management of All Local and State Inspections
There are a wide range of inspections that are conducted on both a state and local level within community’s that must be closely monitored and conducted on a required basis.
Members of the Administrative team are assigned to these specific inspections and accommodate all requests made by the inspection agencies. These team members accompany inspectors on all site inspections. If inspectors find issues with the community it is the responsibility of Young & Associates to advise Community Association Board Members of the issues and recommend necessary steps for resolution.
We will then implement repairs and/or adjustments as required by the local and state inspections within the designated timelines. Our team provides all the support needed to the Association to develop resolutions to any community issues or concerns.
Communication Preparation, Printing and Distribution
A final important task of Young & Associates is that of liaising with community members. Many times within communities there is the need to communicate with all members.
Our team will prepare general communications and correspondence between the Association and its members, contractors, vendors, regulatory agencies and other entities as well. In addition, they prepare communications for purposes of notifying homeowners of an increase in fees, advising homeowners of a special assessment, meeting notices, parking issues within the community, and even reminder notices regarding specific rules and regulations.
These communications must be properly prepared, printed, and then timely distributed to all residents in the community.
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