Tag Archives: Riverside

What is the average cost for a property management company in Marietta, Woodstock and Kennesaw?


Fence 2imagesHOA management companies often work under a contract for a monthly fee. But how is that the amount calculated? In general, it is based on the estimated time needed to perform the tasks outlined in the Management Contract. There is often a workload of tasks that are not considered routine.

So what goes into the monthly management fee? There are fixed costs such as rent, phones, copiers, computers, insurance, and the internet. The workforce is based on the estimated time needed to perform the prescribed work. Total fixed costs and labor plus profit margin are equal to the monthly management fee. It is common to divide this number by the total number of units / lots. (In Georgia, the average is between $ 10-25/door for condominiums.)  Size and staff required matters: HOA’s pay less per home.

Typically, an Owners Association will be assigned a manager, an accountant, a maintenance supervisor, and possibly an administrative assistant to the account. The administrator can manage 10-15 accounts.

Staff salary levels can have a major impact on management fees. If a Homeowners Association wants experienced professionals, there is a price to pay. A qualified HOA manager attends seminars, has credentials and professional designations and focuses exclusively on HOA management. The Homeowners Association will benefit from this training and experience so expect to pay accordingly.

Managers spend much of their time to prepare and monitor Board and Annual meetings. For a typical board meeting, the manager gathers information and prepares  reports, reviews the financial statements and relevant correspondence.  The Board puts together packages or emails messages to each member.

Most Board and Annual meetings are held in the evenings from Monday to Friday at the Homeowners Association so that the manager is not required to work weekends; which costs money to Homeowners Association, this is incorporated into the contract. After the meeting, the Community Association Manager has a long list to follow-up on which occupies most of the following week. A manager can spend many hours on business related to the meeting.

Another cost savings is in charge of managing insurance claims and damage reconstruction. Insurance inquiries can take many hours of a manager’s time. If the management contract specifically provides that the insurance claim work is an additional cost to the HOA, the management company can collect the insurance claim by the time it takes to manage a claim and the renovation work. A similar principle is the time spent on collections or legal action against a delinquent account. This time, management will be charged to the HOA.
Are disclosure statements provided to homeowners who are selling their homes and lenders to buyers? The management company  bills owners and buyers so that the Homeowners’ Association does not assume the costs.

These are just some ways that management costs can be cut. Be sensitive to the time of your manager and not pile on unnecessary tasks that ultimately increase the costs. While it is important to get what you pay for, it is equally important to pay extra for additional services. The best approach is to establish an alliance with the management company and adjust the time and workload demands.

HOA managers are dedicated and waiting to serve. Put them to work for your homeowners association and actually rejoice in the carefree lifestyle advertised in the brochure.

Riverside Property Management is a Homeowners association management company management company proudly serving Roswell, Alpharetta, Buckhead, Marietta and all of North Georgia. Riverside is also an expert Georgia condo association management company and high rise Atlanta association management company. To find out more about Riverside Property Management and why it is one of Georgia’s fastest growing property management companies, go to www.riversidepropertymgt.com. You’ll be glad you did.  (678) 866-1436

A list of the Do’s and Dont’s in HOA Management:


Community Associations

  • Customer service. Answer your calls and emails within 24 hours of receipt. Even if you don’t have an answer, let your client/homeowner know that you are working on it.
  • Know your community. Set your goals to be proactive, not reactive.
  • Be respectful. Treat that nasty, arrogant man or woman with respect; they may be your next Board President.
  • Maintain your cool. If a homeowner is calling you names and yelling, don’t take it personally. Nine times out of ten, they are just having a bad day and you have been chosen to take it out on. Surprisingly, after they have vented, they will often call you back to apologize.
  • Support staff. Acknowledge and appreciate those that are there to support you. It only takes a second to add a line to your email after they have gathered information for you to say, Hey, I appreciate all you do for me.
  • Never, ever lie. If you have forgotten or not completed a task given you by the Board, tell them I am sorry. I overlooked that directive but I will follow up immediately. The Board will understand that sometimes unforeseen things happen. If you are straight forward and provided you don’t make a habit of overlooking your assignments, they will understand.
  • Rumblings of dissatisfaction. Working for a management company means client retention. If you feel, hear or suspect any dissatisfaction, then you need to address this issue with your supervisors. What begins as a tempest in a teakettle ultimately could lead to a hurricane. Less clients for your company can mean cuts backs in the work force.
  • Ask questions. No one has all the answers all of the time. Ignorance is not bliss if you have read the documents wrong or given your Board misinformation. Better to say, I don’t have an answer at this time, but I will research the issue and report back promptly.
  • Stay focused. On the days that every call you get is from a cranky homeowner, every email seems full of hate, you feel sure that your supervisor appears to be looking at you with thoughts of terminating your employment, and you are ready to just give up. . . you might be surprised that the next call is from a homeowner or Board member telling you how much they appreciate you, the next email is one giving you a glowing reference on a job well done, or you are paged to come to the reception desk and find a floral delivery from a grateful Board/Homeowner, and you see your supervisor in the hallway and well, three out of four ain’t bad.

Riverside Property Management is a Homeowners association management company management company proudly serving Roswell, Alpharetta, Buckhead, Marietta and all of North Georgia. Riverside is also an expert Georgia condo association management company and high rise Atlanta association management company. To find out more about Riverside Property Management and why it is one of Georgia’s fastest growing property management companies, go to www.riversidepropertymgt.com. You’ll be glad you did.  (678) 866-1436

Why Professional HOA Management in Marietta and Kennesaw?


Beautiful Cottage Styles

Beautiful Cottage Styles

Most HOA Homeowners’ often have the belief that management is the sole obligation of the elected Board of Directors. While self-management is ideal for the early start of your neighborhood, they can become inadequate with sufficient maintenance responsibilities, tax issues, or other avoidable problems after the Association matures. HOA Management organizations can enter at this stage and provide the necessary help to preserve and even improve the neighborhood. The cost of HOA management companies are much less than the consequences of mismanagement caused by limited time or lack of knowledge of governing body.  Self-management was an idea originally developed by developers who had the belief that the  volunteers can manage all jobs at no additional cost. Volunteers today have much more work today.

HOA management requires considerable knowledge of the various areas such as conflict resolution, cost management, legal, dues collection, maintenance and most importantly, a running knowledge of the Covenants and By-Laws. Volunteers are not continuously trained  in each subject and very often do not have the time needed to learn each facet. Specialists can take care of daily duties, assist in the fiscal planning and reporting, manage vendor quality, and enforce Covenants. Association Management service can ensure that all requirements are met to maintain the  value of each home.
Long-term planning, service experience, and familiarity are very important to home value.

Board Members eventually discover they have bitten off more than you can chew. Monitoring without professional guidance is difficult and often causes problems between homeowners in the community.

HOA management companies help with a couple of crucial elements of the district administration: finance and operations. Collection of fees or how the funds are spent can cause conflicts between neighbors.  Every encounter from the self-managed Board ends up with some kind of confrontation. Boards currently experiencing problems like these can get rid of them by giving these daily tasks to professionals. Research your companies carefully.  A board should not only assess the price of these solutions, but the quality of services offered.

Call (678) 866-1436 for more information!  www.riversidepropertymgt.com

Riverside Property Management in Kennesaw works with homeowner and condo associations providing a variety of management, code enforcement, consulting and educational services, reserve studies, budgeting assistance and maintenance planning expertise.

Why Professional HOA Management in Marietta and Kennesaw?


Most HOA Homeowners’ often have the belief that management is the sole obligation of the elected Board of Directors. While self-management is ideal for the early start of your neighborhood, they can become inadequate with sufficient maintenance responsibilities, tax issues, or other avoidable problems after the Association matures. HOA Management organizations can enter at this stage and provide the necessary help to preserve and even improve the neighborhood. The cost of HOA management companies are much less than the consequences of mismanagement caused by limited time or lack of knowledge of governing body.  Self-management was an idea originally developed by developers who had the belief that the  volunteers can manage all jobs at no additional cost. Volunteers today have much more work today.

HOA management requires considerable knowledge of the various areas such as conflict resolution, cost management, legal, dues collection, maintenance and most importantly, a running knowledge of the Covenants and By-Laws. Volunteers are not continuously trained  in each subject and very often do not have the time needed to learn each facet. Specialists can take care of daily duties, assist in the fiscal planning and reporting, manage vendor quality, and enforce Covenants. Association Management service can ensure that all requirements are met to maintain the  value of each home.
Long-term planning, service experience, and familiarity are very important to home value.

Board Members eventually discover they have bitten off more than you can chew. Monitoring without professional guidance is difficult and often causes problems between homeowners in the community.

HOA management companies help with a couple of crucial elements of the district administration: finance and operations. Collection of fees or how the funds are spent can cause conflicts between neighbors.  Every encounter from the self-managed Board ends up with some kind of confrontation. Boards currently experiencing problems like these can get rid of them by giving these daily tasks to professionals. Research your companies carefully.  A board should not only assess the price of these solutions, but the quality of services offered.

Call (678) 866-1436 for more information!  www.riversidepropertymgt.com

Riverside Property Management in Kennesaw works with homeowner and condo associations providing a variety of management, code enforcement, consulting and educational services, reserve studies, budgeting assistance and maintenance planning expertise.

A list of Do’s and Dont’s for HOA Management:


Community Associations

  • Customer service. Answer your calls and emails within 24 hours of receipt. Even if you don’t have an answer, let your client/homeowner know that you are working on it.
  • Know your community. Set your goals to be proactive, not reactive.
  • Be respectful. Treat that nasty, arrogant man or woman with respect; they may be your next Board President.
  • Maintain your cool. If a homeowner is calling you names and yelling, don’t take it personally. Nine times out of ten, they are just having a bad day and you have been chosen to take it out on. Surprisingly, after they have vented, they will often call you back to apologize.
  • Support staff. Acknowledge and appreciate those that are there to support you. It only takes a second to add a line to your email after they have gathered information for you to say, Hey, I appreciate all you do for me.
  • Never, ever lie. If you have forgotten or not completed a task given you by the Board, tell them I am sorry. I overlooked that directive but I will follow up immediately. The Board will understand that sometimes unforeseen things happen. If you are straight forward and provided you don’t make a habit of overlooking your assignments, they will understand.
  • Rumblings of dissatisfaction. Working for a management company means client retention. If you feel, hear or suspect any dissatisfaction, then you need to address this issue with your supervisors. What begins as a tempest in a teakettle ultimately could lead to a hurricane. Less clients for your company can mean cuts backs in the work force.
  • Ask questions. No one has all the answers all of the time. Ignorance is not bliss if you have read the documents wrong or given your Board misinformation. Better to say, I don’t have an answer at this time, but I will research the issue and report back promptly.
  • Stay focused. On the days that every call you get is from a cranky homeowner, every email seems full of hate, you feel sure that your supervisor appears to be looking at you with thoughts of terminating your employment, and you are ready to just give up. . . you might be surprised that the next call is from a homeowner or Board member telling you how much they appreciate you, the next email is one giving you a glowing reference on a job well done, or you are paged to come to the reception desk and find a floral delivery from a grateful Board/Homeowner, and you see your supervisor in the hallway and well, three out of four ain’t bad.

Riverside Property Management is a Homeowners association management company management company proudly serving Roswell, Alpharetta, Buckhead, Marietta and all of North Georgia. Riverside is also an expert Georgia condo association management company and high rise Atlanta association management company. To find out more about Riverside Property Management and why it is one of Georgia’s fastest growing property management companies, go to www.riversidepropertymgt.com. You’ll be glad you did.  (678) 866-1436

 

Homeowners and Condominium Associations in Georgia


Landscaping

Real estate developers usually create a homeowners association to control the appearance and managing of common areas in the land being developed. Upon selling a preset number of homes in the developed residential subdivision, it is turned over to the homeowners of the subdivision. There comes a time though that this association would need some form of help from experts to make sure that the subdivision will be a great place to live in.

This is where HOA managers come in. If you are living in Georgia and you think that your homeowners association is in need of professional guidance, you are in luck as there are good HOA managers in the city.  When searching you might want to consider this helpful website.  Before you work with one though, make sure that they offer plenty of services that will satisfy the needs of the association and that you have a good understanding of what your associations needs are so you can communicate those clearly to the community association management company.

Common features include HOA managers attending annual board meetings. This way, they would be able to gauge properly the progress of the association in terms of obtaining its goals. It would also enable them to see in what facet is the association lacking in terms of focus. This would allow them to be able to provide enough input that the whole association would benefit from.

The annual budget of the homeowners association is a delicate matter and it needs to be properly managed. Thus, it would be a good thing to have an HOA management company that would be able to provide professional guidance to the board of directors in formulating the annual budget. This way, the association would be able to make the most out of its budget. With that in mind, all residents of the subdivision would be able to benefit greatly from the money they have put in the association.

On the meeting that HOA managers would attend, they also have to be able to present a recap of the past year’s budget and its appropriations. This would allow the members of the association to see where the money went. This would provide transparency which is a very important thing especially with money involved.

These are the most common things that you should look for in an HOA manager or HOA management company. They would be handling very vital functions and thus should have the right background for the job. Apart from having these most common features as part of their service, they should be able to provide you with enough proof that they have extensive experience in such endeavors.  Also ask them to show you the certifications the staff has from the industry educational organizations.  This educational experience will allow you to understand the time and energy the HOA property management company has invested to prepare to help your Homeowner Association or Condominium Association.

Riverside Property Management is a Homeowners association management company management company proudly serving Roswell, Alpharetta, Buckhead, Marietta and all of North Georgia. Riverside is also an expert Georgia condo association management company and high rise Atlanta association management company. To find out more about Riverside Property Management and why it is one of Georgia’s fastest growing property management companies, go to www.riversidepropertymgt.com. You’ll be glad you did.  (678) 866-1436

 

What is the average cost for a property management company in Marietta and Kennesaw?


Summer Fun at the Homeowners Associaition Pool

Summer Fun at the Homeowners Association Pool

HOA management companies often work under a contract for a monthly fee. But how is that the amount calculated? In general, it is based on the estimated time needed to perform the tasks outlined in the Management Contract. There is often a workload of tasks that are not considered routine.

So what goes into the monthly management fee? There are fixed costs such as rent, phones, copiers, computers, insurance, and the internet. The workforce is based on the estimated time needed to perform the prescribed work. Total fixed costs and labor plus profit margin are equal to the monthly management fee. It is common to divide this number by the total number of units / lots. (In Georgia, the average is between $ 10-25/door for condominiums.)  Size and staff required matters: HOA’s pay less per home.

Typically, an Owners Association will be assigned a manager, an accountant, a maintenance supervisor, and possibly an administrative assistant to the account. The administrator can manage 10-15 accounts.

Staff salary levels can have a major impact on management fees. If a Homeowners Association wants experienced professionals, there is a price to pay. A qualified HOA manager attends seminars, has credentials and professional designations and focuses exclusively on HOA management. The Homeowners Association will benefit from this training and experience so expect to pay accordingly.

Managers spend much of their time to prepare and monitor Board and Annual meetings. For a typical board meeting, the manager gathers information and prepares  reports, reviews the financial statements and relevant correspondence.  The Board puts together packages or emails messages to each member.

Most Board and Annual meetings are held in the evenings from Monday to Friday at the Homeowners Association so that the manager is not required to work weekends; which costs money to Homeowners Association, this is incorporated into the contract. After the meeting, the Community Association Manager has a long list to follow-up on which occupies most of the following week. A manager can spend many hours on business related to the meeting.

Another cost savings is in charge of managing insurance claims and damage reconstruction. Insurance inquiries can take many hours of a manager’s time. If the management contract specifically provides that the insurance claim work is an additional cost to the HOA, the management company can collect the insurance claim by the time it takes to manage a claim and the renovation work. A similar principle is the time spent on collections or legal action against a delinquent account. This time, management will be charged to the HOA.
Are disclosure statements provided to homeowners who are selling their homes and lenders to buyers? The management company  bills owners and buyers so that the Homeowners’ Association does not assume the costs.

These are just some ways that management costs can be cut. Be sensitive to the time of your manager and not pile on unnecessary tasks that ultimately increase the costs. While it is important to get what you pay for, it is equally important to pay extra for additional services. The best approach is to establish an alliance with the management company and adjust the time and workload demands.

HOA managers are dedicated and waiting to serve. Put them to work for your homeowners association and actually rejoice in the carefree lifestyle advertised in the brochure.

Riverside Property Management is a Homeowners association management company management company proudly serving Roswell, Alpharetta, Buckhead, Marietta and all of North Georgia. Riverside is also an expert Georgia condo association management company and high rise Atlanta association management company. To find out more about Riverside Property Management and why it is one of Georgia’s fastest growing property management companies, go to www.riversidepropertymgt.com. You’ll be glad you did.  (678) 866-1436

 

What is the average cost for a property management company in Marietta and Kennesaw?


iNeighborhood Inspecitonndex

HOA management companies often work under a contract for a monthly fee. But how is that the amount calculated? In general, it is based on the estimated time needed to perform the tasks outlined in the Management Contract. There is often a workload of tasks that are not considered routine.

So what goes into the monthly management fee? There are fixed costs such as rent, phones, copiers, computers, insurance, and the internet. The workforce is based on the estimated time needed to perform the prescribed work. Total fixed costs and labor plus profit margin are equal to the monthly management fee. It is common to divide this number by the total number of units / lots. (In Georgia, the average is between $ 10-25/door for condominiums.)  Size and staff required matters: HOA’s pay less per home.

Typically, an Owners Association will be assigned a manager, an accountant, a maintenance supervisor, and possibly an administrative assistant to the account. The administrator can manage 10-15 accounts.

Staff salary levels can have a major impact on management fees. If a Homeowners Association wants experienced professionals, there is a price to pay. A qualified HOA manager attends seminars, has credentials and professional designations and focuses exclusively on HOA management. The Homeowners Association will benefit from this training and experience so expect to pay accordingly.

Managers spend much of their time to prepare and monitor Board and Annual meetings. For a typical board meeting, the manager gathers information and prepares  reports, reviews the financial statements and relevant correspondence.  The Board puts together packages or emails messages to each member.

Most Board and Annual meetings are held in the evenings from Monday to Friday at the Homeowners Association so that the manager is not required to work weekends; which costs money to Homeowners Association, this is incorporated into the contract. After the meeting, the Community Association Manager has a long list to follow-up on which occupies most of the following week. A manager can spend many hours on business related to the meeting.

Another cost savings is in charge of managing insurance claims and damage reconstruction. Insurance inquiries can take many hours of a manager’s time. If the management contract specifically provides that the insurance claim work is an additional cost to the HOA, the management company can collect the insurance claim by the time it takes to manage a claim and the renovation work. A similar principle is the time spent on collections or legal action against a delinquent account. This time, management will be charged to the HOA.
Are disclosure statements provided to homeowners who are selling their homes and lenders to buyers? The management company  bills owners and buyers so that the Homeowners’ Association does not assume the costs.

These are just some ways that management costs can be cut. Be sensitive to the time of your manager and not pile on unnecessary tasks that ultimately increase the costs. While it is important to get what you pay for, it is equally important to pay extra for additional services. The best approach is to establish an alliance with the management company and adjust the time and workload demands.

HOA managers are dedicated and waiting to serve. Put them to work for your homeowners association and actually rejoice in the carefree lifestyle advertised in the brochure.

 

Why Professional HOA Management in Atlanta?


 

Most HOA Homeowners’ often have the belief that management is the sole obligation of the elected Board of Directors. While self-management is ideal for the early start of your neighborhood, they can become inadequate with sufficient maintenance responsibilities, tax issues, or other avoidable problems after the Association matures. HOA Management organizations can enter at this stage and provide the necessary help to preserve and even improve the neighborhood. The cost of HOA management companies are much less than the consequences of mismanagement caused by limited time or lack of knowledge of governing body.  Self-management was an idea originally developed by developers who had the belief that the  volunteers can manage all jobs at no additional cost. Volunteers today have much more work today.

HOA management requires considerable knowledge of the various areas such as conflict resolution, cost management, legal, dues collection, maintenance and most importantly, a running knowledge of the Covenants and By-Laws. Volunteers are not continuously trained  in each subject and very often do not have the time needed to learn each facet. Specialists can take care of daily duties, assist in the fiscal planning and reporting, manage vendor quality, and enforce Covenants. Association Management service can ensure that all requirements are met to maintain the  value of each home.
Long-term planning, service experience, and familiarity are very important to home value.

Board Members eventually discover they have bitten off more than you can chew. Monitoring without professional guidance is difficult and often causes problems between homeowners in the community.

HOA management companies help with a couple of crucial elements of the district administration: finance and operations. Collection of fees or how the funds are spent can cause conflicts between neighbors.  Every encounter from the self-managed Board ends up with some kind of confrontation. Boards currently experiencing problems like these can get rid of them by giving these daily tasks to professionals. Research your companies carefully.  A board should not only assess the price of these solutions, but the quality of services offered.

Call (678) 866-1436 for more information!  www.riversidepropertymgt.com

Riverside Property Management in Kennesaw works with homeowner and condo associations providing a variety of management, code enforcement, consulting and educational services, reserve studies, budgeting assistance and maintenance planning expertise.

Budgeting and Reserves for Condominiums


Most covenants for condominiums require that the association include as part of the annual budget, an allocation for  reserves.  Reserves should be set aside for roof replacement, pavement resurfacing, building painting, and any other item of association responsibility with a replacement cost or deferred maintenance expense of $10,000.00 or more.

Traditionally, the reserve schedule accompanying the proposed budget has used the “straight line” method of calculating required reserves. For example, assume that the roof on a condominium building has a twenty year useful life, is ten years old, and will cost $100,000.00 to replace. Further assume that the current amount of money in the roof reserve is $50,000.00. The association will need to collect $5,000.00 per year, over the next ten years, to accumulate another $50,000.00 so as to “fully fund” the roof reserve. This is traditional, “straight line” funding of reserves.

Similar calculations are then made for all other required reserve items (building repainting, pavement resurfacing, and other items with a replacement cost or deferred maintenance expense in excess of $10,000.00), and the annual contribution required to “fully fund” the reserve account is thus arrived at.

When reserves are funded on the straight line method, whether fully funded or partially funded, they should only be used for their intended purposes. For example, money should not be taken out of the roof reserve account to pay for painting the building. However, the association can use reserve funds for non-scheduled purposes if approved in advance by a majority vote of the unit owners.

The concept of “cash flow” or “pooled” reserve funding differs from “straight line” reserve funding.  Under pooled reserves, it is still necessary for the reserve schedule which accompanies the annual budget to set forth required reserve items (roofs, painting, paving, and other items with the replacement cost/deferred maintenance expense of more than $10,000.00). Further, the “cash flow” reserve schedule must still disclose estimated remaining useful life and replacement costs for each reserve component. The main difference in the cash flow presentation of reserves is that instead of each reserve line item having its own fund balance, there is a “pool” of money in the reserve fund, which is available for costs affiliated with any item in the reserve pool. For example, the painting and roof reserve monies are “pooled” into one fund, so a vote of unit owners is not required for expenditures from the fund, as would be the case in a straight-line reserve scenario where monies from one reserve account would be used for another reserve purpose.  As with “straight line” reserve funding, with pooled reserves, a vote of the unit owners is should be required to use reserve funds for operating purposes, or for any expenditure involving items that are not part of the “pool”.

The pooling method of reserve funding attempts to predict when a particular item will require replacement or deferred maintenance, and reserves are scheduled and funded so as to insure that a necessary amount of funds are on hand when the work needs to be done. Theoretically, monthly or quarterly reserve contributions can be lowered, while still avoiding special assessments.

Of course, what works in theory does not always work when placed in human hands. In addition to needing a crystal ball to predict exactly when a reserve expenditure will need to be made, reserve contributions may be substantially higher in certain years, such as when the fund is depleted for the replacement of a required item, and there is a short useful life for the next asset that needs to be replaced.

A condominium reserve fund helps associations pay for maintenance and upgrade costs as they become due.   As a property owner, you will be well aware of the benefits which accrue from setting aside sufficient reserve funds.   The  association will better maintained over time and you will lessen the need for special assessments to make up future budget deficits.