RealManage Blog

January 10 ,2013

HOA Services: The Importance of Auditing Under SAS 99

In December of 2002, the American Institute of Certified Public Accountants (AICPA) instituted tougher auditing standards for businesses, including HOAs and their homeowners association management company. Contained in the AICPA’s Statement on Auditing Standards No. 99 (SAS 99), the measures were developed in response to a series of highly publicized accounting scandals that occurred in the late 1990s and early 2000s. The type of financial corruption that SAS 99 is designed to uncover seldom happens to HOAs, but when it does, the measures ensure fiscal duplicity is uncovered.

[…]
January 07 ,2013

Community Property Management: Saving Money on Common Area Maintenance

The common areas of an HOA community contribute to its aesthetic and recreational opportunities. The peace and quiet of a private park in spring; a sparsely populated community swimming pool in the heat of summer; walking trails that weave in and out of autumnal scenery – these are some of the benefits that make a managed community worth living in, but they also require lots of upkeep. When an HOA needs to trim maintenance costs, decreasing funding for the management of common areas is a common cost-cutting measure. Is there a way to economize on community management for common areas without the areas suffering decline?

[…]
December 10 ,2012

Community Association Management Services: Winterizing the Community

Winterization is the process of preparing something to withstand the cold weather of winter. The winterization of a managed community typically begins in early autumn when temperatures remain above the freezing mark. Waiting too late to perform the process often results in the loss of perennial plants, the bursting of water pipes due to freezing, and potential HVAC failure, to name a few. Performing winterization helps a community protect its assets, and avoid paying for certain types of replacements and repairs. Below is a list of winterization measures HOA management companies render as a part of community association management services:

[…]

HOA Services: Hiring Employees Versus Hiring Independent Contractors

Private communities must hire vendors to perform services such as snow removal, street repair, mowing, and tree trimming—a task that is often delegated to a homeowners association management company. In an established HOA community, a maintenance fund is set aside to pay for these and other HOA services, but as important as having money for the services is hiring the right vendors to perform services. Proper vendor selection may affect more than the quality of services a community receives; it may also affect the finances of the community regarding the employment status of vendors.

[…]
December 05 ,2012

Community Association Management: Options for Generating Reserve Funds

Maintaining a reserve fund is a part of sound community association management. Without the fund, a community has one option for paying for unexpected expenses—asking residents to pay additional fees, often on short notice. In some cases, charging additional fees is an acceptable way of affording new expenses, but charging high fees on short notice rarely sits well with residents. In some cases, additional fees can be avoided or mitigated by taking creative steps to generate additional reserve funds. Below are some examples of how providers of community management services help HOA communities generate reserve funds without charging extra fees.

[…]
May 25 ,2011

Water Conservation Tips for the Summer

Be Water Smart

As the heat of the summer approaches, now is an excellent time to start thinking about water conservation techniques in your landscaped areas.
[…]
April 27 ,2011

Neighborhood Watch-TAG...YOU'RE CAUGHT!

Graffiti is a crime, not just a nuisance.

[…]
February 23 ,2011

War of the Weeds

Some folks call them weeds, to others they’re just a plant growing where it’s not wanted. They seem to sprout overnight and can outgrow the plants you pamper in a heartbeat. Recent rains have prompted vigorous growth. Left unchecked they can steal water and nutrients from neighboring plants. Where do they come from? How can they be controlled so they don’t take over your yard? Read on for tips on controlling these pesky invaders.

[…]
January 26 ,2011

Building Community Spirit - A Case Study

Introduction

 
The Young at Heart Homeowners Association (name changed for privacy) has long been an active community of young seniors. Built during the mid-eighties, this community has an established Board of Directors, Committees and Social infrastructure and professional management which made it one of the most desirable Adult Communities in its county.
[…]
December 29 ,2010

What does a manager do on behalf of a community association?

A property/community association manager should be assisting your board of directors and association in virtually every aspect of its operation, whether you have an on-site manager, a portfolio manager or a part time manager. The degree to which an effective manager can lead and assist you in the nine major areas of association operations are influenced by their experience, work load, management contract and professional drive.
[…]
Pages:
« 1 ...
»

Subscribe to Email Updates

Free Guide How to Choose an HOA Management Provider

Client Communities