Atlanta Property Management Company – Choosing The Right One

October 28, 2011 By Cristin Wantland Leave a Comment

Are you looking for an outstanding Atlanta property management company for your community? Perhaps you currently have one right now and, because of their performance, you understand exactly what you don’t want in an Atlanta property management company. Sometimes it happens in reverse like that, and that’s fine. We learn from experience.

Speaking of experience, Heritage Property Management services in Atlanta has been successfully serving community associations since 1982. We assembled this brief list of points board members will want to consider when looking for the right Atlanta property management company for your community.

Five Criteria To Consider When Searching For Your Atlanta Property Management Company

There are five primary criteria you should consider when looking to choose a new property management company in Atlanta:

Communication and service – Communication between the homeowner, the HOA and the property management company should be considered an asset to each party. Clear communication is essential to a fulfilling relationship. Does your current property management company here in Atlanta communicate well? Of equal importance is the service they provide as a result of that communication. Is the effort followed through with the appropriate response? Communication and service are vital components to a properly functioning HOA/property management company relationship.
Local company – When searching for an Atlanta property management company, it makes sense that you want that company to be a local Atlanta business. You need them to have local resources, understand the culture and be at your HOA’s disposal quickly and without hassle.
Transparency – Transparency is a big buzz word out there right now, and for good reason. Because your HOA deals with contracts, covenants and legal disputes, you will often need access to records kept by your Atlanta property management company. For instance, The HOA should have total access to property inspection reports to ensure that they are being done completely and reliably.
Know the people in your property management company – As opposed to simply bidding out your contract, get to know the people who comprise the property management company. You can often get a better feel for the organization when meeting your potential Atlanta property management company face to face.
Always consider insurance! – This is an important consideration. You need to see if your property management company is insured to cover your association in the event of a loss. Review the types of insurance they have: liability? Umbrella coverage? Fidelity and worker’s compensation? All of these play a potentially integral role in whether you should decide whether or not to choose company X as your Atlanta property management company. They need to be insured against as much risk as possible!

Heritage Property Management Services is located in Atlanta and has proudly served the greater Atlanta metro area since 1982.

What’s Up With the Woods?

October 13, 2011 By Cristin Wantland Leave a Comment

Wooded areas, meadows, streams, and ponds are features that add value to a community. Living in Atlanta, the city of trees, many of the communities we manage are fortunate to have some of these features. These natural areas not only enhance property values but also increase aesthetic appeal, improve our environmental quality, eliminate noise and wind, and reduce energy bills. As you can see it is important we take care to properly maintain these areas for economic, environmental and enjoyment reasons.

Whose Responsibility Is It?

The responsibility to maintain these natural areas goes beyond the capabilities of a typical lawn care provider, so it’s up to everyone in the community to properly maintain and respect all of the common ground—-landscaped and natural.

That’s why the association pays attention to water resources and quality, wildlife habitats, and species diversity. We believe that proper maintenance and management will benefit the local ecosystems and save the association money. In the case of large wooded areas, we believe the best solution in many cases is to let nature take its course. Allowing fallen trees to remain helps nourish and replenish the forest as well as creating habitats for a variety of species.

Remember, environmental stewardship begins at the community level.

Filed Under: Landscaping, Maintenance, Property Management Tagged With: Atlanta HOA Management, Property Management Company

What is Strategic Planning?

October 4, 2011 By Cristin Wantland Leave a Comment

Property Management Planning Strategy

With fourth quarter quickly approaching for many of our associations we recommend working with your community manager to begin the process of strategic planning. What does that mean, and what does it entail? Simply stated, strategic planning is a process we use to determine where the community is going and how they are going to get there. It includes these steps:

Assessing the Current Position

We will work with the board to identify the strengths, weaknesses, opportunities, and threats. Knowing where we are now will help get us where we want to be in the future.

Identifying a purpose. This will become a “mission statement” for the community. For example, “Our association exists to ensure the highest possible quality of life for all residents.”
Setting goals that identify what we need to achieve the mission. The goals should be specific and measurable, and will provide an indication of how we’re doing as we progress.
Deciding how to meet the goals. We may have to allocate resources, create committees, or undertake other tasks to achieve the specified goals.
Developing an action plan. Each step will require a specific action plan. For example, if a committee is needed, who will serve, exactly what tasks will be assigned, and when will the results be needed?
Monitoring and updating the plan. Boards and managers should review the strategic plan regularly. If we learn that our earlier ideas and goals were shortsighted or uninformed, they should be update accordingly.

Having a strong strategic plan helps focus the energies of the community manager and guide the property management company. It also ensures that as Boards change there is continuity and a shared vision. Many communities have gone on to develop a strategic plan that is shared with potential buyers and serves as a marketing tool. If your community does not have a strategic plan now is the time to consider making one.

Filed Under: Property Management, Strategic Planning Tagged With: Atlanta HOA Management, Property Management Company

How the typical HOA Budget is Prepared…

September 23, 2011 By Cristin Wantland Leave a Comment

HOA Budgeting May Not Be Fun But It Has To Be Done

Each year you receive a draft of the proposed HOA budget for review and comment. A lot of work goes into preparing the budget. It’s a complex activity that has to start early so the budget can be finalized and approved prior to the beginning of the new fiscal year and coupons ordered. Here’s how we do it:

The board appoints a budget committee to help with some or all of the following tasks.

The board and manager work together to gather all financial information we’ll need to project expenses for the coming year. This could be a reserve analysis, bids for contracts, projections for utility or service increases, comparisons of past years’ budget trends and many other details.
The board also examines all sources of income—assessments, interest on investments, proceeds from concession or club operation and other types of miscellaneous income.
The board creates a working draft by adjusting the expenses and income until they balance. This may be accomplished by foregoing certain expenses to avoid raising assessments. Or it may be necessary to raise assessments to cover increased expenses such as utilities that the board cannot control.
When the board has developed the best possible draft budget, the association sends it to every member for review and comment. One of the reasons we start the process early is to allow you plenty of time to study the budget, ask questions and offer comments.
Based on member comments, the board revises the draft budget as needed.
At the annual meeting the HOA Board presents the final budget.

Due to the amount of time required to complete the process, we encourage our associations to begin early. HOA Budgets should be approved and finalized by November 15th allowing the management company to order coupons and ensure delivery prior to January 1st.

Filed Under: Budgets, Finances Tagged With: Atlanta HOA Management, HOA Budget

Why Do We Need Association Reserves?

September 12, 2011 By Cristin Wantland Leave a Comment

Association Reserves Are Critical For Proper Maintenance

Equipment and major components (like the roofs) must be replaced from time to time, regardless of whether an association plans for the expense. Most communities prefer to plan and set the funds aside now. Association Reserve funds aren’t an extra expense—they just spread out expenses more evenly. A good Property Management Company knows there are other important reasons we put association monies into reserves every month:

1. Reserve funds meet legal, fiduciary, and professional requirements. A replacement fund may be required by:

Any secondary mortgage market in which the association participates (e.g., Fannie Mae, Freddie Mac, FHA, VA).
State statutes, regulations, or court decisions.
The community’s governing documents.

2. Reserve funds provide for major repairs and replacements that we know will be necessary at some point in time. Although a roof may be replaced when it is 25 years old, every owner who lives under or around it should share its replacement costs.

3. Reserve funds minimize the need for special assessments or borrowing. For most association members, this is the most important reason.

4. Reserve funds enhance resale values. Lenders and real estate agents are aware of the ramifications for new buyers if the reserves are inadequate. Many states require associations to disclose the amounts in their reserve funds to prospective purchasers.

5. The American Institute of Certified Public Accountants (AICPA) requires the community association to disclose its reserve funds in its financial statements.

So remember saving a penny a day for your association reserves will save you from having to come up with a big assessment fee later when something needs replacement.

Filed Under: Finances, Reserves Tagged With: Atlanta HOA Management, HOA Budget

Calling All Homeowners

August 12, 2011 By Cristin Wantland 1 Comment

All meetings of the association board are open meetings. Residents are encouraged to observe meetings and read approved minutes. Residents who wish to address the board are welcome to do so during the homeowner forum.

Here are few tips for participating:

Put it in writing

You will get the best response if you put your question or opinions in writing prior to the meeting. This isn’t mandatory, but it helps you and the board. Some issues may require a little research by the manager. Also, the board can serve you better if members have time to consider your concern.

Call ahead

As a courtesy, the association asks that you phone and let the manager know that you wish to address the board. This also allows us to notify you if a meeting is cancelled for any reason.

Plan your remarks to last no longer than five minutes

Board members enjoy visiting with residents; however, the meeting agenda is always very full, and the five-minute limit ensures that all business gets conducted. This doesn’t mean big issues can’t be presented. If your concern requires more time, please summarize it in five minutes, and the board will add it to the agenda for the next meeting.

Don’t expect an immediate response

Board members don’t act independently. All issues require discussion and sometimes a vote. Sometimes an immediate answer is possible, but it’s just as likely that you won’t get a response until after the meeting.

If you need information, call the manager

The purpose of the Homeowner Forum is for residents to share opinions and concerns with the board. Residents seeking general information (like a status report on a project or the board’s position on an issue) can get a more immediate answer from the manager.

Filed Under: Governance, Meetings, Property Management Tagged With: Atlanta HOA Management Company, HOA Management, Home Owners Association, Neighborhood Relations

Who Lives in Your Community?

August 6, 2011 By Cristin Wantland Leave a Comment

Understanding and appreciating the generational values of your neighbors contributes to a strong community.

Consider a few broad groups:

Matures

The Matures were born between 1920 and 1945. They’re the last of the veterans of the World and Korean Wars, and are also called the “Silent Generation.” They’re about sacrifice. They survived the Great Depression, and they still reuse aluminum foil and paper bags. Their heroes were military figures. They believe that a rule is a rule. They feel that change is good, as long as it’s the type of change they’ve envisioned. The Matures defined the world in which we live for many years, but they now have to give way to the Baby Boomers.

Baby Boomers

Baby Boomers were born between 1945 and 1964. Approximately 77 million in number, they’re workaholics who believe in teamwork, democracy, and loyalty. They don’t necessarily see the need to follow rules. Baby Boomers value the concept of “built to last.” They invented the idea of “meaningful work,” and the workplace continues to be a part of their self-identity. Baby Boomers will occupy the White House until approximately 2030.

Generation X

Generation X’ers were born between 1965 and 1977. Numbering about 44 million, this group was raised in an environment in which both parents worked. They question their parents’ values, and they believe that jobs and housing are disposable. They place greater value on family and personal life than the Baby Boomers do, and they feel that a balanced life is more important than professional accomplishments.

Generation Y

Generation Y’s were born between 1977 and 2000. They comprise approximately 33 percent of the U.S. population, and projections suggest that by the year 2010, those age 33 and younger will number 137 million, or 46 percent of the U.S. population. People in this group have always known the Internet, laptops, and cell phones. It would never occur to them to physically touch a television to change the channel. People born in the U.S. after 1983 have always had a President from the Southern states. South Africa’s official policy of apartheid has not existed in their lifetime, cars have always had CD players and air bags, weather reports have always been available 24 hours a day, and genetic testing and DNA screening have always been available. This generation focuses on its individual choices, goals, and the future.

Filed Under: Community Living Tagged With: Atlanta HOA Management Company, Home Owners Association, Neighborhood Relations

Running for the Board? What to Consider

August 3, 2011 By Cristin Wantland Leave a Comment

If you’re considering running for the board, we ask that you take a few moments to ask yourself the following three questions:

Do I have the time?

As a board member, you will need to devote at least several hours of your time each month to association business. In addition to regular monthly board meetings, you will need to be active in email discussions and occasional special meetings. During special projects, you may need to spend a little extra time on association business. Some board members may also spend a little more time than others if they work with a committee.

Can I make tough decisions when it’s required?

The primary role of the board is to conduct the business of the association. This doesn’t just mean approving the budget, but also developing and enforcing policies. Board members are required to step outside their immediate circle of family and neighbors and make decisions based on the greater good of the community.

Can I do all this and have fun, too?

It isn’t all about policies and tough decisions. A community is only as good as you make it, establishing and maintaining a sense of community is a part of a board member’s responsibility. Planning and attending functions such as our picnics and being a presence in the community are as important as any policy decisions you may make.

Being a board member can be frustrating at times, but it may also be one of the most rewarding ways you’ll find to volunteer your time. If you’re interested in running for the board or would like more details about board’s responsibilities, please contact the manager or a current board member.

Filed Under: Board Duty, Governance Tagged With: Atlanta HOA Management Company, HOA Board Management, HOA Management, Home Owners Association

Heritage Property Management Services in Atlanta – Everything You Need To Make Your Community Shine

July 17, 2011 By Cristin Wantland Leave a Comment

If you are concerned about your Atlanta community, its shared goals, upkeep and maintaining property values, you may be considering serving on the board of the homeowner’s association or HOA. Being a board member can be a very rewarding experience, but it is one that comes with a responsibility to your neighbors’ fiduciary interests as well as making sure everyone’s needs are satisfactorily met in accord with community covenants and bylaws.

Let Heritage Property Management Help You Serve Your Atlanta Community

Heritage Property Management Services in Atlanta can help you understand both the broad strokes and finer points of what it means to be a thoughtful, productive member of your homeowner’s association board of directors. By enrolling in our board training program, we give you the experience, the knowledge, and the tools you need to serve your community’s interest to your fullest potential. Our thorough course will give you a deeper understanding of the nuanced issues you will confront as a board member and how to effectively problem solve within the framework of an elected board. We will teach you how to wield your influence wisely, with the greatest mutual benefit at the fore, leveraging your individual endeavors in support of the shared goals of the HOA.

Our program is based on accepted industry standards and years of experience, based on both Atlanta communities and drawing from HOA experiences around the country. Becoming a community leader is a serious undertaking and your HOA is only as strong as its individual members. Therefore it is incumbent upon each prospective board member to be the best that they can be, armed with a total understanding of their role. Our curriculum is designed to do just that. We help give you insight into what the mission of the HOA is, breaking down elements of the job so that it is a manageable undertaking. There are no better courses in Atlanta than Heritage Property Management’s board training programs. Our classes are excellent primers for the newcomer and offer valuable refresher courses for the veteran member.

We offer 5 elements of our board training programs to enrich your experience :

Education
Engagement
Prioritization
Reflection
Industry Standards & Best Practice

Each program brings insight and a fresh perspective to the issues that confront those serving on boards.

Beginning with the first, the education program is a review of each member’s responsibilities emphasizing practical application.
The Engagement program focuses on procedure and processes. This is an excellent course for those who have been reelected.
Prioritization is a vital program for the new board member, outlining what each elected person should be homing in on.
Reflection is an in-depth look at effective work and management methods.
Finally, Industry Standards and Best Practice is a valuable class based on Lessons Learned and what are commonly accepted industry standards.

With these well-designed programs, Heritage Property Management Services can assist you in becoming the most-effective, well-rounded board member and help you to serve your Atlanta community to the greatest extent of your abilities.

Filed Under: Board Duty, Meetings, Property Management Tagged With: Board Training, HOA Management, Property Mangement Company

Typical HOA Management Services in Atlanta

July 16, 2011 By Cristin Wantland Leave a Comment

Finding an HOA management company is not difficult, but finding one that offers full services and has a good reputation behind them will be more difficult. You want one that will live up to its claims and be there to support you if it should ever be needed. Here are some typical HOA management services and what you should be able to expect from the company you choose.

Professional Ethics and Standards

The one thing that will make one HOA management company stand out from others is its professionalism. You want a company that offers its typical HOA management services with a high degree of professionalism and integrity. The company must be willing to enforce its own policies and provide the services that it says it will, as well as maintain contact with its HOA membership when issues arise.

Supervising or Administering Financial Assets

Another task that you should expect to be included in the typical HOA management services is that the company will supervise or administer the financial assets of the HOA, when directed by the local Board of director’s to do so. This would also include proper reporting of the assets as expected.

An HOA is also responsible to handle the regular distribution of the billing statements, which includes ensuring their accuracy and mailing them on time. They also:

Collect the payments and
Make deposits accordingly
Provide financial statements indicating all transactions
Ensure bank statement reconciliations.
Pay the bills of the HOA.

They should use a CPA to prepare reports and taxes. When homeowners become delinquent with payments, they are responsible to turn it over to collections.

Creating Resolutions and Directives

An HOA management company should also be expected to create new policies and resolutions when needed to resolve particular issues that affect the property and people involved. This includes making sure that practices are carried out according to state and local law, and providing help in enforcing the rules once they are made.

Handle Routine Maintenance and Major Repairs

Typical HOA management services should also include the handling of the maintenance needs of the property. This includes things such as lawn care, pool maintenance, sprinkler service and more. When there is a need for major repairs, they should:

Determine what is needed for the project
Accept the bids
Award bids to the contractors and vendors
Ensure compliance with the specifications for the project.

Provide Special Services

A special feature that is often included in typical HOA management services is overseeing various events. This may include things like special pool events, seminars, and other social events. They may also provide special help like emergency services.

Filed Under: Property Management Tagged With: Atlanta HOA Management Company, HOA Management, Home Owners Association, Property Mangement Company