Turn-Key Property Management Solutions
Access Management Group of Atlanta provides a turn key property management solution for homeowner and condominium owner associations, sometimes referred to as an HOA or a COA. The company currently serves more than 27,000 individual home and condo owners in the metro Atlanta area. Last month 6 additional associations made the move to Access Management.
Lets examine why those associations would make the decision to have their homeowners associations managed by our firm. Traditional homeowners associations require that the subdivision form a board of directors. That means the people living in the subdivision must take on personal accountability for the financial, legal and operational aspects of managing a community. Taking on such a role comes with risks and personal costs for those who agree to serve in roles such as; HOA president, vice president and/or secretary treasurer. Many people who eagerly jump into those roles really don't understand that managing a community and accounting for your homeowners dues has serious legal and tax implications.
Access Management Turn-Key Process
1) Process starts with the assignment of one of our experienced property management professionals to your homeowners association. They will work directly with your board and our part of a larger expert team of HOA and COA association management experts that will be providing financial, legal, maintenance and operational support to your community.
2) Our team will assist your board of directors in crafting and deploying the annual operating budget for your HOA or COA and will ensure all required documentation is put into place.
3) We will send out the annual dues assessment notices to each resident in your community.
4) We will follow through with each resident to ensure all annual fee assessments are collected. Our staff is trained in delinquency follow-up and will send out late notices and apply interest charges to any residents who have not paid in a timely manner.
5) Our accounting staff will produce and maintain a balance sheet that reflects all financial transactions that involve the utilization of funds collected from annual fees.
6) We will identify and hire appropriate service providers to handle all common area maintenance needs of the community. We review each invoice these vendors submit and process all payments for appropriate charges.
7) Our accounting team will oversee and provide monthly expenditure reports, financial statements, check registers and collection updates. We maintain proper balance sheets, track reserve money and reconcile bank statements for your community. Truly a turn-key process.
8) When it's time for new board elections, we provide assistance to your current board of directors with new election planning, including creation of the necessary ballots.
If you are a member of an HOA or COA board of directors, we hope you will give us a call at 770-777-6890 to find out more about our very affordable and extremely effective property management services.
HOA’s are relatively new in many communities especially in single family. In fact, many homeowners aren’t aware of what they are, and what purpose they serve. Also known as a Homeowners Association, according to US Legal, it’s an organization of homeowners who live within the same condo community, subdivision and/or planned development.ReplyDelete
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