GOProperty Management is happy to offer a no charge, no obligation Consulting service called HealthCheck; a 10 point checklist designed to assess the health of your Association and the Management of your Association. As a part of this assessment, we look at the following 10 critical areas:
- Declaration Covenants, Conditions, and Restrictions (CC&R’s). As a Board, are you aware of the Rules and Regulations that your CC&R’s require to be enforced? When was the last time your Association Management company reviewed them with you? How well is your Association Management Company following your direction in terms of enforcement? Too strict? Too lenient? Just right? How frequent are inspections done? Are you satisfied with how well you’re kept informed? Is the Association’s insurance coverage adequate? When is the last time it was reviewed?
- By-Laws. When was the last time they were reviewed? Are you sure you are holding your Annual Meeting when you are supposed to? Do you have the right number of Board Members? Are they serving the correct terms in office? Has your Association Management company ensured the Board is covered with Directors and Officers Liability Insurance?
- Management Plan. Does your Association Management company have a Management Plan in place? Do you know what they are going to do and when they are going to do it? Do they do it?
- Satisfaction. How satisfied are you with your current Association Management company? Are they responsive? Do you ever have to ask for things twice? Does everything get done? Do they keep you informed? Do things ever fall through the cracks? Are all your calls and emails responded to within 24 hours, seven (7) days a week, 365 days a year?
- Financials. Do you get your Balance Sheet and Income & Expense Statement each month? Are they reviewed? Are you comfortable with them? Are your investments reviewed?
- Reserves. Are your Association’s reserves adequately funded to handle major repairs you’re obligated to take care of for the next 20 years? When was the last time you had a Reserve Study done?
- Budget. Do you get a draft budget months ahead of your Annual Meeting so there is time for the Board to discuss? Does your Association Management company talk to all contractors prior to submission of a draft budget to discuss next years fees? Is your budget in line with recommendations from your last Reserve Study?
- Accounts Receivable. Is your AR growing or shrinking? Is there a collection process in place? Have you approved it? How often is it reviewed? Is it working?
- Contractor Relations. Are you satisfied with the work done by your contractors? Are you getting the best price? How often are contracts reviewed? Are work orders issued? Is work done promptly? Is all work inspected before bills are paid? Are contractors bills paid promptly? Do your contractors like working with your Association Management company?
- Homeowner Relations. Are your homeowners happy with your Association Management company? Are their calls and emails returned within 24 hours, seven (7) days a week, 365 days a year? Are their issues resolved? Are they treated with respect?
If you’d like to talk to us about scheduling a no charge, no obligation HealthCheck, or if you’d like to learn more about it, please contact us.