Posts Tagged 'Property Management'

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Summer Community-Building Events for Your HOA

As financially beneficial as HOAs can be, it’s important to never lose sight of what made yours possible in the first place: community. Indeed, a sense of community is what holds your HOA together and what buoys the board up above the rest of the citizenry, allowing them to make decisions that benefit the neighborhood as a whole. Without the good faith and comradery that a solid sense of community fosters, no doubt all HOAs would fall to ruin.

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Individualized Service is Paramount for Property Management Companies

As cliche as the phrase is, the necessity of “service with a smile” really rings true across multiple industries. After all, nobody likes to be greeted by a dour face and a muttered “how can I help you?” When, really, you know the person would rather be doing anything than helping you. It would probably prompt you, as the customer, to walk away; however, if you’re feeling particularly sassy, you might like to tell the service person that they could help you by changing their attitude!

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How Your Community Can Benefit from an HOA

HOAs are some of the most fundamentally misunderstood community organizations out there. Face it: they’ve got a bad rap. Outsiders think they’re stuffy and unnecessary; this is mostly due to the extra cost that living in a HOA-managed neighborhood entails. But, when managed correctly through property management companies such as RowCal, there’s nothing better than an HOA to help a neighborhood bloom and to nurture the surrounding community.

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How RowCal is Changing the Property Management World

In the past, HOA associations usually were self-managed by a board of directors. However, that tradition may be changing. As of January of last year, more than 66 million Americans live in areas overseen by an HOA management company; this means that more responsibilities generally taken care of by the board can become the responsibility of the company it hires. The board can become less involved.

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What is the Difference Between an HOA Audit, Review, and Compilation?

●        A compilation requires an auditor to present financial statements based on the information submitted by the HOA, with no need for verification.

●        In a review, an auditor conducts data analysis and makes inquiries to determine whether the information contained in the HOA financial statements is correct. The HOA provides assurance that the documents do not require any changes.

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How to Resolve HOA Conflicts Like a Pro

From a legal standpoint, it is imperative that HOA boards and HOA members learn how to resolve conflicts professionally. The failure to properly solve conflicts can turn a small dispute into a major legal battle.

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Setting Up Your HOA General Ledger

A general ledger allows you to record all of your HOA financial transactions and keep a record of your balances in all your accounts. Rowcal property managers can help you update your HOA general ledger.

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Common Bank Reconciliation Errors That Throw Your Accounting Off

Bank reconciliation errors can throw your accounting off and complicate your accounting process. RowCal online accounting software can help you keep your HOA’s accounting straight.

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Time-and-Materials vs Fixed Time: How to Setup Your Contractor Outsourcing Agreements

Selecting the right pricing structure with vendors can be difficult because the structure should align with your organization’s operating procedures, budgetary goals and what products and services the vendor provides.

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How to Prepare Your HOA to Handle Winter Emergencies

Although winter is in full swing, there are still several months of cold weather ahead. Snow and ice may still be on the way. But it’s not too late to make the necessary arrangements to prepare your HOA for winter weather. As an HOA board, you can help your community stay safe this winter.

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