FAQ's: Frequently Asked Questions

FAQ's About Professional Property Management

 

How much does professional property management cost? 

               

There are many factors that are taken into consideration when quoting a cost for association management, for example:   Is it a condominium, villa, or single family community?  How many units are there?  Does the community have amenities such as a swimming pool, clubhouse, lakes, and tennis courts?  Does the association want full management or only fiscal management? 

 

What is included in the cost of property management?

               

Again, this depends on what type of management you are seeking.  With full management CMA will work in tandem with the Board and at the Boards direction in matters of budgeting, owner maintenance requests, architectural requests, violations, etc.  Click here for an example of a complete scope of services.

 

What should we be looking for in a property management company?

               

You should ask how long they have been in business, if their managers are certified, how many clients they currently service and are those properties similar to yours?  Ask to see their mission statement.  Are they a member of Community Association Institute (CAI)? 

 

What is CAI? 

 

CAI is an international membership organization dedicated to building better communities.

               

CAI provides information & resources, educational opportunities, networking opportunities, and legislative activity updates to board members, community managers, and other professionals who provide products and services to associations.  CAI advocates on behalf of common-interest communities.

 

What are the roles of the Board and the Community Manager?

               

Board members are volunteers elected by their neighbors to serve their communities—a role that not only requires a commitment of time, but a commitment to understand the legal, leadership and operational obligations of the position.  The Community Manager can help facilitate that role.

 

 

 

What are the benefits of having a Property Management Company?

 

 

Management companies such as CMA are dedicated solely to the management of communities and their individualized needs, offering unparalleled customer service and support in addition to utilizing the industry’s latest technologies.  A management company can assist the Board in remaining current on both state and national issues pertaining to Association living, and help provide Boards with the latest issues and resolutions.

 

 

 

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