Tag Archives: schedule

Policy for Collecting Delinquent Dues

Collecting Delinquent AssessmentsIt is a rare condominium or homeowner association that has yet to face the challenge of the pecuniary consequences of delinquent assessments.

Prior to the economic downturn that began in 2008, there were many portfolio managers, myself included, who managed associations that had never experienced the financially crippling effects of numerous delinquencies. Because they were so rare and infrequent, there was a tendency toward leniency and inconsistency, and legal action was rare.

But when your neighbors cannot pay their association dues, the balance radically shifts and those who can pay must pay extra just to keep the grass mowed, refuse removed and roofs from leaking. In harder hit associations, reserves are compromised to fund basic monthly operating costs.

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If You Fail to Plan, You Plan To Fail

“If You Fail to Plan, You Plan To Fail”

You may have heard the saying, “If you fail to plan, you plan to fail”. This statement especially applies to community associations because of the high levels of knowledge and expertise required to perform the required duties of the association. Board and committee members volunteer their personal time to serve the association, and management tools are imperative to meet the goals of the community as expeditiously and productively as possible. An annual operating plan will assist in accomplishing these goals.

An annual operating plan for the coming year is a schedule of events and responsibilities that defines and describes actions to be completed in order to accomplish the goals and objectives. The operating plan ensures that all involved know what needs to be completed, defines the timeline for actions and allows for monitoring as well as a proactive approach to managing the community.

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Covenant Enforcement

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  • Community Association Management has developed a cutting edge software platform that automates the violation inspection processes
  • Minimizes time the board spends in dealing with Deed Restriction or Covenant Violations
  • Increases community confidence that the board takes appropriate and swift action on perceived...
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Accounting Only Services

 

Accounting Only Services

Does your community simply need accounting services? Community Association Management offers a complete accounting package that includes billing, collections, payment options and full financial reporting on a monthly schedule.

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