HOA Management Services Minnesota
Many Home Owner Association (HOA) Board members quickly realize that time and energy needed to successfully engage and manage the complexities of an association are consuming. In fact, in most cases, the Board members are volunteers, and can struggle to make sense of the Governing Documents, Parliamentary procedure, Quorum requirements, as well as the vast layer of legal requirements that all must be followed. As such, the administrative needs are often a surprise to new board members, and the spool up time can be lengthy. The result is generally a delay in required board actions, or improper board meeting procedures that can invalidate the actions taken by the board. By not documenting minutes and voting properly, such actions can be challenged later, and become a cause for liability to the HOA, and to the Board members themselves.
Another source of frustration and trepidation by Board Members involves the accounting. State statutes are very clear that all HOA’s must adhere to proper accounting procedures. This is true for the Operating Accounts as well as the Reserve accounts.
At 33rd Company® Property Management, our experience, and full range of management services offers a solution to heavily tasked HOA’s. Our services include an “Accounting Only” service for those HOA’s who are more experienced and desire to manage the day-to-day activities themselves, but do not have the time to handle the check processing, accounting, or auditing that is required. We also offer FULL Service management for mid to larger HOA’s enabling them all of the experience and interface necessary to handle every issue. By taking over the many tedious and repetitive tasks, oru services enable the members of the Board of Directors to spend more time focusing on member’s needs, community-building and member/owner satisfaction within the Association. This help allows the Board members to make better use of their time, while delegating the regular workload to the property manager. The result is that critical administrative, accounting and routine tasks can be completed cost effectively, and efficiently, including:
Such letters are routine and are sent anytime there is a violation of the Governing Documents Rules and Regulations. 33rd Company can send actual paper notices from our mobile devices that integrate with our software system, and mailed thru our VPO automatically. This allows immediate notifications to be sent from the Property Manager even while still on-site performing a walk-thru.
ANNUAL & SPECIAL MEETINGS
Having an experienced Association Manager attend your Annual Meeting is what most HOA’s do to ensure that they are scheduled and held in compliance with the governing documents, and State Statute. 33rd Company can attend the association’s annual or periodic meetings and assist with our experience and knowledge to make sure the outcome is positive, documents, and in compliance with your Governing Documents.
Periodically, it is a good practice to walk thru the entire property on a regular basis. 33rd Company property managers are experienced, and can conduct walkthroughs of the association’s property to identify maintenance issues, compliance problems, as well as make suggestions that better the community.
Preparing Needed Documents
Having and maintaining good records is critical for HOA’s, but many independent Boards get into trouble by not properly notifying, documenting, and archiving their annual meeting notices, proxy documents, and meeting agendas, as well as distributing them to all parties. 33rd Company is experienced in the processes and procedures necessary to help keep your HOA in compliance, and to avoid legal issues down the road.
Maintenance & Service Contracts
A GOOD HOA Property Manager should help the Board Members find good vendors, vet them, make sure they are property licensed and insured, and even help negotiate contracts. This is what a GOOD agent of the board should do. Unfortunately all to often, HOA property managers lack the experience to really help the BOD get the most value from its contractors. 33rd Company is not only a licensed Broker, but a licensed Residential Contractor as well with lots of experience hiring and managing subcontractors. We can help you negotiate service contracts, and can recommend other trusted independent contractors to provide all the services your HOA needs.
Many HOA’s have deficient Association Master Insurance policies, or have had a past claims history and have very high Master Policy deductibles. We can assist in finding and acquiring the right insurance for the association and common elements. We can also help coordinate claims, and even hire a third part claims adjuster if needed to make sure that the insurance settlement is fair. We can even go further and help individual Members/Owners get the right HO6 Policy, that also accommodates the Master Policy deductible, so there won’t be a gap if there is an insurable event that effects both Owner and Common elements.
Real Estate Documentation
When a Member Sells, 33rd Company can help prepare resale certificates and escrow questionnaires, and can properly document the required reserve study and Association information that satisfies the Lender. Sometimes FHA loans can be denied if there are too many rentals in an HOA, for example. 33rd Company not only manages HOA’s but also has decades of experience managing rentals, and we are very experienced on all topics covering rental properties.
The core of any relationship is good communication. Many Board Members are surprised to find out that not all property management companies are good at communication. In fact, this is one of the biggest complaints from disgruntled Boards, is the lack of, or poor communication from their Property Manager. 33rd Company prides itself on maintaining excellent channels of communication with Board Members, Vendors, and individual Owner/members.
Monitoring Laws & Court Cases
Everything changes, and so do local, State, and Federal Laws when it comes Home Owner Associations. We can help a Board with changes in applicable laws and also have a deep and experienced network of Real Estate Attorneys and Accountants that will keep your HOA or CIC on top of the changes.
Facilitate Owner Participation
Sometimes even with a talented Agent on your side, it helps to have additional Board Members at-large, or also to have designated committees or sub-committee to assist the Board in reviewing information, poling members, or making suggestions to the Board. In the end, every Homeowner within the HOA is a vested stakeholder and in many cases if individuals lack the time or experience to be a Board Member, they can volunteer in other ways including HOA/CIC committee membership.
With sophisticated software, and an on-line member portal – we make it easy to keep all owner/member information up to date. This improves communication, data and policy sharing, document tracking, and compliance.
Our on-line portal for Owners/Members is easy to access, and contains monthly statements, electronic copies of governing documents, declarations, by-laws, and rules and regulations (R&R). We also can post HOA community newsletters, vendor information, board meeting minutes, and more. There is also a separate Board of Directors (BOD) portal that allows Board members to interact, share documents, and to archive information, making their jobs much easier. 33rd Company uses the most sophisticated software available for adding value and simplicity to the entire HOA. We can maintain the current financial information pages on your website, keeping the information accurate and current.
Complete HOA/CIC Property Management Services for Homeowner Associations in Minneapolis St. Paul, MN
As you can see, there is a lot to know and to do when managing a Home Owners Associatin (HOA). This is why it is so important to find the right Association Manager for you needs. Whether you need Full service management, or Accounting only, 33rd Company can be your perfect fit! At our Twin Cities HOA/CIC property management service company, our experienced professional property managers deal with complex tasks regularly, and can assist you with any or all of your Association Management needs. We can custom-tailor a list of services that fills your specific needs. Our fees are very cost-effective and competitive, and better still, our performance has the highest rating of management companies nationally. 33rd Company is a Certified, CRMC® Management company, and our property Managers hold multiple distinguished memberships and credentials CAI®, IREM®, NARPM®, CIC-Midwest®, MMHA®, and more. You can trust 33rd Company with all of your critical HOA/CIC management and administrative needs.
award winning SERVICE YOU CAN TRUST