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Management
A 13 Point Plan for Successful Transition
As construction and home ownership continue to be a growth industry in New Jersey, one issue that will be faced by more and more HOA members is the transfer of power from community developers and sponsors to the new homeowners who will actually be living in the community. Though not everyone reading this article will agree with everything in it—or even anything in it—few would disagree that the power transfer is not always an easy or entirely transparent process. It can, however, be made much easier if both the outgoing developers and incoming new board members observe the following helpful points: Read More
A Look at IREM's Educational Programs
Where do property managers learn their stuff? They're not born knowing how to broker peace between feuding neighbors or who to call when the storm gutters are flooded, so they must learn their trade from other experts. There are a number of organizations across the country that specialize in training management professionals, either through institutional curriculum at universities and community colleges, or through independently-run programs that allow current and future property managers to work toward professional accreditation. Read More
Wentworth Property Management
In an age when over-analysis seems to be the rule rather than the exception, The Wentworth Management Group has made it a point to keep things simple. Their goal? To do whatever it takes to keep their clients satisfied. Read More
Real Life Experiences of Property Managers
Adopted hamsters. Mysteriously empty pools. Secret bedroom habits of hi-rise neighbors. No, it's not next week's Desperate Housewives episode. It's more like Ripley's Believe It or Not, but all of these are true-life experiences of property managers, and they're just some examples of how managing a condominium community is not all about fixing leaky pipes and pushing papers. It can be an adventure—no matter how small the building or how civil and well mannered the shareholders and owners. Read More
Figuring Management Fees
When you buy a used car, you don't just walk into a dealership without doing any research beforehand. You don't just plunk your hard-earned cash down on the counter, tell the salesperson, "Give me that one," and then drive away with no questions asked. Read More
Considering a New Management Company
Any number of things can happen to make an association question its choice of management company. The company the board originally hired might be making mistakes, or there might be personality conflicts that threaten the all-important management/board relationship. Or the reason to change management could be something as simple as a disconnect between the manager and the board members, who don't feel as though they are getting the service they signed up for. Even when the reasons are simple, however, changing management companies is not a transition to be undertaken lightly. It's a big decision, and a difficult process to navigate for even the most well organized, professional boards and agencies. It's important to make the decision with full knowledge of what's involved and a commitment to minimize disruption of a community's daily business. Read More
Accrediting Property Managers in New Jersey
Property managers in New Jersey are not specifically required to be licensed—although many of them do get accredited through organizations like the Institute of Real Estate Management, or IREM, and the New Jersey chapter of the Community Associations Institute (CAI-NJ). Numerous programs already exist to license and train property managers, which helps promote ethics and standards in the industry in addition to ensuring that community associations employ the best possible management staff. Read More
Tips for Seamless Management Transition
Your property management company is the custodian of your development. It is the job of your managing agent to handle your HOA's finances, keep track of contractors and vendors, and pay bills. But what happens if the company you hired to do this important work turns out to be a dud? Read More
The Role of Your Property Manager
A Budget planning is a key component of any association's operations and preparation, and usually falls on the property manager's shoulders. However, he or she does more than just what the title implies—the manager is a "jack of all trades"—they must oversee daily operations in addition to acting as a liaison to the board on a variety of issues from financial matters to refereeing disputes amongst homeowners. Read More
Gaining Access to Important Documents
Of the many responsibilities a managing agent has to fulfill for a homeowners association, one of their most vital is coordinating the flow of information between the board and the association members, and keeping that information secure. That adds up—even in a small association, there's a lot of paperwork to handle, including financial records, legal documents, homeowner correspondence and management statements from board meetings—and it's important that the documents be available to board members when needed. The flow of information between the managing agent and board is a vital part of their relationship. Read More
