It’s more than a program. It’s a way of thinking and working together. It’s a commitment to the success of your condominium or homeowners’ association, both as a community and as a business.
The secret is a thorough analysis of the status quo, correcting or shoring up any deficiencies, and then developing a long-term plan. All too often, the only thought that goes into community management planning happens at budget season with an occasional tweak after the blizzard or recession. Planning should be attacked on three levels: Administrative, Facilities, and Financial.
Administrative
With administrative planning, we review the governing documents, rules, and enforcement procedures. We examine policies for meetings, parking/towing, hearings, and a number of other administrative functions. Working together, and with your attorney, we help you create policy or administrative resolutions that get legally filed and then become law unless a future board votes for change.
We review all your insurance policies to make sure you are adequately covered. We work to find the best insurance with the lowest deductibles.
An administrative calendar is created to show the year at a glance and make sure all meetings, legal notices, community events, and maintenance items are planned and scheduled.
We review your document storage and filing structure, making sure members have access to what they need and board members have exclusive access to privileged information.
Facilities
Facilities planning can be short- and long-range combined. Routine maintenance is a current year budget item; replacements are reserve items. We start with an executive site visit to determine the current state of the property. Then, a reserve study is an essential element to this plan and should be conducted or updated. When we know how much money you need, for what purpose, and when you need it, we can create a maintenance and capital replacements schedule. It’s the duty of the current board to plan for the future replacements and to cause the current residents to pay toward those replacements for the wear and tear that occurred while they were owners.
We help you create a thorough covenants program, balancing your duty to maintain the condition of the property with the homeowners’ legal rights.
Financial
Financial planning comes on two fronts: An operating budget for a single fiscal year and a reserves budget for future replacements. Without a plan, the board cannot set the amount of the assessment and will not have a handle on future replacement costs. Even with that information, the only control the present board has is to set the assessments for a one-year period and hope the next board gives it the same responsible consideration.
We evaluate the status of delinquent accounts and legal filings, make sure your legal actions are up-to-date and offer unique solutions for delinquencies.
We make sure your taxes have been filed and paid, your corporate status is current, and your audits are scheduled and have been completed.
It’s about planning. It’s about accepting responsibility. It’s about acting in the best interest of the owners—both present and future. It’s also about ethics, risk reduction, and sound business judgment. And, it’s about creating a mindset—a community business plan, if you will—so future boards will carry on your approach with the ultimate goal of making the community a success.
Training
As you read about our services, you will see that MMI offers extensive training for board members. Even before you become our management client, every board member is welcome to take our seminars. In just our 101 class, presidents learn how to create an agenda and how to control a meeting; secretaries, how to quickly and easily create minutes so they contain all the important information and nothing that does not constitute “business;” treasurers, how to handle the budget process and read the financial reports.
A Fresh Start for Your Community® is a component of MMI’s new community onboarding process but is also available on a consulting basis for non-managed communities.