We might not be the biggest kid on the block, but we are certainly making an impact! When you need real solutions for property management, Key Community Management is here to provide direction that will save board members time and money. You can rely on our experience to get results. Every day we are providing processes that are not always tangible, but make us a leader in this industry for professional customer service and solid community financial growth.
Get the results you are looking for with the proven processes listed below.
Our software helps us implement an effective assessment collection process which includes a long standing working partnership with our primary law firm. This process produces results and is not driven with only fees in mind. Our collection rate is outstanding and does not drain the community budget with fees. We also work closely with owners who want to pay, but need help through a payment plan. We make sure the plan is fair for both parties, and we have found that if you treat owners with respect, they will pay their balance due.
Reserve accounts including CDs and money market accounts are important for the stability of any community. We have established and increased the reserve accounts in all of the communities we manage. We strongly recommend to each board that they allocate funds on the balance sheet for specific common area assets such as the pool, monument, tree replacement, walking trails, etc. A strong balance sheet is crucial for community growth and property resales.
Violations are a major concern because of the growing number of investment properties (rentals), foreclosed properties and busy owners. Our software system keeps track of the status of every violation, including a picture of the violation, and all applicable follow-up legal letters. This helps us quickly resolve all of the violations observed or reported unless the house is going into foreclosure. At that point the board is informed that the lot is vacant and they may need to maintain the lot and add the expense to the deeded owner until a new owner is found.
With our integrated software, any person in the office can provide basic information to a caller, which could include their balance, the date a check was received or clarification of a violation letter. We answer a large percentage of the incoming calls and in most cases we are able to provide callers with the answers they need. Our staff responds to voice mail messages and emails within one business day.
We spend a minimum of 12 months training a property manager so they understand and feel comfortable enforcing the covenants and by-laws for their communities. We also make sure he/she has a working knowledge of state laws for homeowners associations and tax policy pertaining to common areas. Our employees attend CAI seminars and they are professionally trained in the day-to-day operations of association management.
Cost-effective Legal Advice
We find that about 5% of the questions owners and board members have may require a lawyer for legal clarification. The majority of questions normally consist of resolving owner disputes, collections or violation questions. Our experience has shown that those inquiries can be handled by an experienced paralegal or attorney at the law office our communities work with at no charge. The legal budget for a community can cost thousands of dollars with minimal results. So, we work hard to keep this budget item under control.
If you would like to learn more about the management processes we use to solve HOA problems and increase communication, please contact us today for a meeting.