Riverside Full Color Brochure


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Riverside Full Color Brochure

  1. 1. Riverside Property Management, Inc. 2011 Company Brochure 1301 Shiloh Road Suite 1621 Kennesaw, GA 30144 (678) 866-1436 Office *(678) 866-1437 Facsimile (800) 519-5961 Toll Free Member: Member: 1
  2. 2. Dear Board Members and Homeowners,Thank you again for your interest. As an introduction to Riverside Property Management, Inc.,allow me to highlight some unique aspects of our firm about which we are particularly proud.Georgia’s Premier Property Services Company. Having served community associationsthroughout Greater Atlanta, Riverside Property Management , Inc. is an established leader in ourindustry with the financial solidity, breadth of experience, and scope of personnel to ensure thehighest quality of management services for your community.Trained Professional Staff. Our managers, accountants, field and support staff receive regularprofessional training and are earning recognized industry designations and accreditations inaddition to being kept abreast of the latest government, operational, and philosophical trends inthe field of community association management.A Full Service Company. In order to provide the highest level of professional service to ourclients, Riverside Property Management, Inc. provides a wide array of services in addition tomanagement and financial services. Each service can be contracted for independently to meetyour specific needs.A Commitment to Your Success. Not only is education a key to our success, but yours as well.That’s why we have established an educational outreach department at Riverside PropertyManagement, Inc. to provide you with the tools and information to help assure your success inserving on the board.While we are very proud of these unique aspects of our firm, what we take the most pride in isthe reputation we have earned by providing excellent management, operational, and financialservices to our clients. We believe strongly in the value of personal service, which is why eachcommunity we manage receives the personal attention of an individual community managerselected to meet the particular needs of the community. 2
  3. 3. We know that every community is unique with different requirements and different priorities;so our management services are custom tailored to match the objectives of each community werepresent.We hope to have the opportunity to meet with the Board. If I can answer questions for you orprovide additional information, please do not hesitate to contact me directly. You can reach meat 404-788-9049 or email at vpdolan©riversidepropertymgt.com.I look forward to hearing from you soon.Sincerely,VP DolanPresident 3
  4. 4. Table of ContentsSectionI. The Riverside AdvantageII. ReferencesIII. Core ValuesIV. Managerial StaffV. Scope of ServicesVI. Certificate of InsuranceVII. Accounting PracticesVIII. Community Aesthetic Controls Riverside Blog ArticlesI. The Risks and Rewards of Self-ManagementII. Finding the Right Property Management CompanyIII. Budgeting and Reserves for CondominiumsIV. How to Run an HOA Board MeetingV. Don’t Let Your Neighborhood go to the DogsVI. Learn More About Riverside Property Management, Inc. 4
  5. 5. The Riverside AdvantageSince our inception, Riverside Property Management, Inc. has emerged as a recognized leader inthe management of Master Planned Communities, Vertical Developments and Condominiumand Townhome Associations. Our determination and dedication to exceed the expectations ofour clients has been our driving force and has helped us to foster client relationships based uponmutual trust, respect and sound business practices.We continually strive to provide out-of-the-box solutions to our clients. This is reflected in ourability to streamline overhead while providing the foremost offerings of services found in thecommunity association industry today.Our total emersion in the industry ensures that our communities are always one step ahead ofemerging challenges of legislation, regulations and other industry changes that impact yourbottom line.Our advanced software and client based services are the most progressive in the associationmanagement industry. They were prepared to address our clients needs and visions. Ourdedicated web-sites share information and service twenty-four hours a day.Allow Riverside to show you how we can help you increase homeowner satisfaction andinvolvement by maximizing revenues, reducing expenses and improving overall aesthetics. Letus help you find solutions that work for your community! 5
  6. 6. ReferencesI would recommend Riverside Property Management to any neighborhood looking for an HOA management company. The transition from our old management company required very little effort on our part and went very smoothly. Since then I feel like our Board of Directors is more focused and organized. The ladies at Riverside have been such a big help. They attend our meetings and advise the board on topics such as budgeting, placing liens, insurance needs, and keeping the community looking nice. Riverside has made many recommendations for our association to save money. It was a great decision to make the switch. Jennifer Upham – President Bridlecreek Homeowners AssociationRiverside Property Management Company has been our property manager for almost a year. They are very professional in their style of management. Accurate financials and a thorough monthly property inspection report are provided in a timely manner. Our assigned property manager responds quickly to issues and concerns of the Board and questions that our residents may have. Bob Schmiehausen - President Arbor View Community Association Richter Roofing & Remodeling has worked on a number of projects with Riverside Property Management, from repairs to complete re-roofs, gutter repairs, to complete steel I-beam construction for a pool pavilions. Richter has worked alongside several of the Riverside Property Management teams, and communication and professionalism are traits that have been in place since day-one. As in any construction/management relationships, one’s word and follow-through are key components and the managers at Riverside are always on top of things. Richter has always found Riverside fair in their business dealings, making sure that projects are brought in on-time and within budget. We look forward to the working with Riverside and the homeowners they represent in the future. John Richter, Owner 6
  7. 7. Riverside Property Management’s bidding process clearly communicates their needs andrequirements. The staff is very responsive to all our questions. We enjoy working with them and look forward to continuing our business relationship in servicing their life safety needs. Thanks Angie Over the last several years I have had the wonderful opportunity to work with Riverside Property Management. To describe their services and my experiences in one word would not do them justice! Their entire staff is so personable and such a pleasure to work with. They are very detail orientated and true professionals at what they do. I can see they honestly care about their Properties and Owners. This along with their personal and prompt service is what sets them above the rest!!” Brian Bullock R. E. Bullock & Co., Inc. We have been extremely pleased with Riverside Property Management. They have been professional, responsive, and helpful. Lisa, Lori and everyone else is a great joy and pleasure to work with. We look forward to many years together! Vince Warren - President Medlock Pointe Homeowners Association 7
  8. 8. Riverside was integral in establishing our new communitys policies and procedures. Theyhelped transition our community from the builder and provided assistance in both selecting and negotiating fees with all our major vendors. Our manager is flexible with board meetings, community events and is readily available for important questions and decisive action whenrequired. As a first-time HOA board member, I could not imagine doing the job without the help of our Riverside property manager. Nick Smialek - President Rosemont Homeowners Association Kinsey Electric, Inc. is honored to be affiliated with Riverside Property Mgmt. They are professional, honest & aware of their customer’s desire to receive quality work in a timely manner at the most economical price possible. When a large project demands a high budget they accept several bids before a job is awarded to one contractor. This assures their clients that all things considered everyone will be on the same page with the same goal Great Customer Service. Truly a pleasure to work for. Jeff Kinsey – Owner Kinsey Electric, Inc. We are pleased with the business relationship we share with Riverside Property Management. We have found the staff at Riverside to be very professional, friendly and responsive as needsarise. Adams Backflow is also in the service business and we know what customer service needs to be today. We would rate Riverside Property Management “Outstanding”! Laura Adams - President Adams Backflow & Plumbing Services 8
  9. 9. Russell Landscape Group, Inc. would like to offer a referral of Riverside Property Management for their service as a community management company. As a branch manager of a large contracting firm in Georgia, we have done business with Riverside on many communities. Riverside is always accessible, quick to respond and well informed of the communities maintained. Russell Landscape Group has worked with Riverside since they first formed the company. Tony Reynolds Branch Manager Smyrna Division In the years I have worked with Riverside Property Management Company, they have always responded promptly, professionally and efficiently to both major and minor problems. The property managers at Riverside are very motivated, they listen and get the job done. It is apleasure to work with a company who truly cares about their properties and I look forward to my continued partnership with Riverside. Brandon Bean - Vice President Sweetwater Pool ServiceOur experience with Riverside to date has been fantastic! We found the transition to be almostseamless to the homeowners. Everyone at Riverside has worked diligently to get the transition completed as uneventful as possible. We love the service level we have received from all thestaff, but especially from Lisa Robinson, Tamara Owen and the Accounting Staff. It’s a pleasureworking with such a professional, competent and customer friendly staff. They are responsive.They do what they say they are going to do and always make you feel like a valued customer. I feel that switching to Riverside has been the best decision we have made all year! Deborah Woolf - Treasurer Piedmont Heights Condominium Association 9
  10. 10. Riverside Property Management Company has helped our community tremendously. Riverside has helped to make the transition from a “self run HOA” to a management company simple, fast and effective. As a long standing board member it was important to me that we have a company that understands our needs and goals. They have exceeded my expectations in their professionalism and responsiveness when providing insight to our board requests. They also excel in how they interact with the residents of our community. I wish that we would have hired them years ago! Tommy Maloney – President Homeowners Association of Pebblebrooke Idlewood Parc Homeowners Association Board of Directors In the fall of 2008 our Board of Directors evaluated our growing management needs and determined we were in great need of a new management company. We are so thankful that we chose you! We are quickly approaching the end of our first full year of partnership between Idlewood Parc Home Owners Association and Riverside Property Management and are very pleased with the service we have received thus far. Tamara and Lisa have been so responsive to our questions and concerns. They have helped the board gain better access and understanding of our financial assets and membership resources. The implementation of our neighborhood website which allowed the ability to pay dues online, has been one of the most important instruments for increasing communication within our neighborhood. We have been able to follow your recommendations for obtaining new lawn maintenance and legal counsel with great results! We are much happier with the maintenance of our common areas as well as our individual lawns. We are also quite pleased with the significant cost savings we are able to enjoy on a monthly basis. The previous complaints from homeowners regarding their lawn service needs have all but disappeared. Your guidance toward new legal representation has also been quite beneficial. Our receivables have gone up significantly and many of our most delinquent accounts have been paid in full! What a huge improvement in our monthly bottom line! We are truly pleased with our partnership with Riverside Property Management! The Board of Directors continues to receive feedback from homeowners thatRiverside’s customer service continues to be exemplary and prompt. We really appreciate all that your company has done thus far to maintain and improve our community. We look forward to our continued partnership! Donald Hensler, President Yolanda Reyna, Vice President Laura Hollis, Secretary/Treasurer 10
  11. 11. I just wanted to take a moment to let you know how happy we are with the work you’ve beendoing in our community, Riverview at Vinings. You have truly become an extension of our Board and are invaluable to our neighborhood. In this time of economic challenges, doing everything we can to help our homeowners protect their investments is vital. Therefore, your work in keeping our community running efficiently, looking good and making sure our covenants are adhered to by our residents is a major component in protecting that investment.Speaking for the Board, we cannot adequately express how grateful we are to have you working with us. I know it was a challenge to get us to a point where we could change from being reactive to proactive in how we managed the property. Thanks to your diligence and hard work we have come a long way this year. The level of responsiveness and follow through compared to our last management company has been a dramatic increase! I know our owners appreciate the fast response time and thoroughness in dealing with their requests. We also appreciate your insight and experience when it comes to determining the best vendor or course of actionfor Riverview. Your personal attention to every detail has been invaluable and demonstrates the level of customer service Riverside has delivered to our neighborhood. It is clear you understand our goals for the community and have made them yours as well. I look forward to our continued partnership. You are truly wonderful members of our community! Janet Abbazia - President Riverview at Vinings Condominium AssociationCrabapple has enjoyed working with Riverside Property Management since 2008. The Riversideteam often includes Crabapple on their landscape maintenance bids and we currently maintain a few properties managed by Riverside. As a fellow member of the Community Associations Institute, Crabapple appreciates the business relationship we have with Riverside. Crabapple LandscapEXPERTS I think the Riverside team is doing a fantastic job. I was actually happy that I received your violation courtesy notice. The previous management company nearly destroyed our community due to their own negligence. Our current HOA Board did a tremendous job of restoring order within our community. We have high expectations for your company and wehave been extremely pleased with everything you and your team have done thus far! Keep up the excellent work! Ross F., Villas at Barrett Lakes 11
  12. 12. From the beginning of our association with Riverside Property Management, Inc., we have received top notch, professional service. The team at Riverside responds promptly and positively to both residents and board members on a variety of issues. They have taken an active role in our community by attending board meetings and addressing items that come tolight during frequent, regular property inspections. I would highly recommend Riverside Property Management, Inc. to any community seeking an effective, efficient management company to assist their HOA board and residents. Jane Goff - Secretary Sessions Street Lofts As the owner of a commercial landscape company we maintain several Associations in the Metro Atlanta area. Consequently, we are associated with several property management companies. It is a nice change of pace to have a relationship with Riverside Property Management, which takes a serious interest in making sure that each one of their clients isgetting the best landscape vendor that fits the needs of the community. The property managers at Riverside are conscientious of the appearance of the landscape and are always ready to get involved when there are projects that need to be completed allowing our management of the landscape to be very effective. Royce Day - CEO RGS Landscape Management Inc. We have had many opportunities to work with Riverside Property Management Co. in the pasttwo years. I must say that all of the property managers (especially you) and representatives that I have personally dealt with have been extremely pleasant, informative and helpful. It’s nice to be on a first name basis with people that sometimes you may never meet. Any time I’ve requested assistance or needed help with anything, Riverside has always been there. Your clients should be proud to have you representing them. Charlie Helmandollar Business Development Phillips Landscape, Inc. 12
  13. 13. "Being an older neighborhood, our community has very unique needs. Riverside is easy to work with, their representatives are accessible and professional in their dealings. I have enjoyed working with Riverside in managing our homeowners association business.“ Catherine Busse – President Princeton Lakes Homeowners AssociationOur neighborhood has been self-managed since its inception over 14 years ago and never felt the desire or need to use a management company. This past year, we wanted to forego theprocess of looking for volunteers to own and manage property and administration duties andinstead decided to explore retaining a management company. After reviewing many bids and proposals and after conducting several interviews, we hired Riverside Property Management. Despite our concerns as a first-year customer, we could not be more pleased. Riverside has been thorough in their duties and receptive and responsive to our needs. We are extremely pleased and consider them an example of good service. Mark Howell - President Enniskerry Homeowners Association Working with customers is part of our business. Working with Riverside Property Management is our pleasure. Gold Leaf Landscape Management has worked with Riverside Property Management for several years, during which time they have provided our business many opportunities to grow. When looking for a property management company, you want a company that will communicate, respond, listen and relate to its customers needs...Riverside Property Management is that company for your community. John Mazzei - Manager Gold Leaf Landscape Management 13
  14. 14. Riverside is a very professional, courteous and responsive team. It is a pleasure to do business with them as they continue to grow and expand in their community. Peggy Hancock| Relationship Manager, Smartstreet RBC Bank (USA) Professional, experienced, knowledgeable, competent, reliable and friendly. These qualities are greatly appreciated in a property management company like RiversideProperty Management. We get direct and immediate responses and they take personal interest in our community. Riverside Property Management truly lives up to their promise of great "customer service.“ When we have a problem or question they get back with an answer the same day. Riverside Property Management is what a real management company is all about. Etta Tucker - President Villa Lake Homeowners AssociationI would like thank Riverside Property Management for their professionalism and most of all their ability to communicate with our firm when an Association needs legal services. There are many property management companies available, but a lot of them seem to go their own way as to how they think your Associations day to day operations should be ran. Riverside is responsive, fair and looks out for the best interests of the Association. I am happy to recommend Riverside to boards that I represent. Doug Goldin, Esq. Goldin Law Group, LLC 14
  15. 15. Core Values "Increased gratitude for the intrinsic value we are able to provide througheducation, communication and a longing for retained value in our communities” Mission Statement"To set the standard of excellence within our company that, as a homeowners,we would expect” 15
  16. 16. Management StaffV.P. Dolan, PresidentAs President of Riverside Property Management, Inc., V.P. oversees all aspects of the company’smanagement and operations. V.P.’s background in association management began in the 1990’swhen he joined his local association board bringing more than 20 years of experience in realestate development to the table. V.P. saw the need for a professional association managementcompany in the Atlanta area and founded Riverside Property Management, Inc. with the vision ofraising the level of financial transparency and improving customer service in the industry. V.P. is agraduate of the University of Delaware, a licensed realtor in Georgia and a member of theCommunity Association Institute (CAI).V.P.’s experience encompasses nearly all aspects of association management, from transitioningdeveloper controlled communities to management companies, commissioning reserve studies,planning realistic and efficient budgets for communities of all sizes, training new Board members,increasing collections to Covenant enforcement. V.P. works closely with Riverside’s staff and clientcommunities to help control costs, increase property values, and reduce the time commitment ofthe community volunteers when serving on a board of directors.V.P. also founded Help For Homeowners In Need, Inc., a Georgia non-profit designed to work withstruggling homeowners to renegotiate mortgages on more favorable terms and obtain help forhomeowners in maintaining the appearance of their properties.V.P.’s vision, leadership and integrity set Riverside Property Management, Inc. apart from all of therest. 16
  17. 17. Diane Cherry, Vice PresidentDiane has been involved in asset and property management for more than twenty years. She hasworked in both commercial and residential real estate and serves as Riverside’s legal counsel.Diane is a graduate of New York University and has a law degree from Temple University School ofLaw. In 1988, Diane obtained her license to practice law in New Jersey and Pennsylvania, whereshe worked as corporate counsel for a fortune five hundred company. Five years later, when shemoved to Georgia, Diane obtained her license to practice law in Georgia. Diane has since servedas the President of three different homeowner’s association boards and currently serves asPresident of her office association board. Diane is a licensed realtor in Georgia, a member of theCommunity Association Institute (CAI) and the current President of the Cobb County LibraryFoundation.Haley Leffew, Accounting ManagerHaley has an Accounting Degree from Kennesaw State University and has extensive training ingenerally accepted accounting procedures (“GAAP”). Haley has undergone in depth training in theTOPS accounting software and financial reporting and recordkeeping. Haley often attends Boardmeetings with Property Managers and is always available to meet with Boards to address theirparticular concerns. Haley works closely with each community’s Board to aggressively pursuecollections and develop working solutions for homeowners experiencing financial hardship. 17
  18. 18. Lisa Robinson, Director of Administrative ServicesLisa is a member of the Community Association Institute (CAI) and brings more than twenty-fiveyears of legal and association management experience to Riverside. Lisa began her career as aparalegal before becoming involved in community management. Lisa is actively involved in allaspects of client services and oversees all vendor contracts and enforcement issues. Lisa consultswith all new client communities to ensure a smooth and seamless transition to Riverside andwelcomes new homeowners by providing them with the knowledge and tools they need toadhere to community-wide standards. Lisa has been pivotal to Riverside’s continued growth byserving as a vital resource to both Board members and homeowners with any legal, contractual orinsurance related concerns. In her free time, Lisa serves as the President of her own homeownersassociation in Canton, Georgia.Tamara Owen, Senior Property ManagerTamara is a member of the Community Association Institute (CAI) and worked for more thantwenty years as a licensed realtor in Georgia before joining Riverside as a Property Manager.Tamara brings her expertise to the communities she manages to assist Board’s in developingcohesive, proactive communities. With her background in real estate and dedication to improvingthe lives of all Riverside clients, Tamara is eminently qualified to lead Riverside’s PropertyManagement Team. Tamara’s insight and experience make her Riverside’s “go to” person whereshe constantly strives to improve our processes to enhance our level of customer service. 18
  19. 19. Lori Miles, Director of MarketingLori is a member of the Community Association Institute (CAI) and an industry professional withover ten years of community association management experience. Lori’s background in realestate and marketing and her technical expertise help her lead the way in Riverside’s newdevelopment and expansion efforts. Lori also serves as the liaison to several communityassociations, where she excels at partnering with associations to find solutions to their uniqueneeds.Reeny Reynolds, Property Manager Training SupervisorReeny has been involved in the real estate industry since 2007. Reeny is a member of theCommunity Association Institute (CAI) and helps streamline the operations of Riverside’shomeowner and condominium associations through efficient management and collections. Reenyis dedicated to doing everything within her powers to bring a new standard of communitymanagement to Riverside’s clientele. Reeny has been known to go above and beyond the call ofduty by visiting her properties on nights and weekends to address homeowner concerns. There isno problem too big or small for Reeny to tackle in her efforts to develop successful neighborhoodsand satisfied homeowners.Kevin Casteel, Financial Services ManagerKevin serves as an Staff Accountant and Financial Services Manager for some of Riverside’s largesttownhouse and condominium associations. Kevin has an impeccable record of client satisfactionand an ability to win over even difficult homeowners and vendors. Kevin believes that managersof community associations should bring a new standard of excellence to the industry by adheringto a strict code of ethics and integrity and managing with an eye toward long-range planningsolutions for community associations. 19
  20. 20. Cheryl Wampler, Human Resources ManagerCheryl is known for her meticulous recordkeeping and superior organizational abilities. Cherylkeeps track of all books and records necessary to adhere to all industry, tax and legal compliancestandards, including up to date insurance certificates, property tax records and 1099s. Cheryl isalways refining Riverside’s processes to stay one step ahead of all regulatory compliance issues.Cheryl has successfully streamlined our internal procedures to improve efficiency and lower coststo our clients. 20
  21. 21. SCOPE OF SERVICESRIVERSIDE PROPERTY MANAGEMENT, INC. CONDENSED:Qualified Management Professionals• Over 40 years of experience• Member of Community Associations Institute (CAI)• A Rating from the Better Business Bureau• Trained client representatives• Degreed accounting personnelWhat We Do To Exceed Your Expectations:Proactive homeowner management• Full service, consulting, or accounting-only service• Productive board and annual meetingsComplete administrative and management support• Owner Communications• Proven proactive inspections• Diligent deed restriction and architectural foresight• Convenient ACC compliance and violation processing• Ongoing maintenance coordination with Board• Annual insurance coordination• Vendor screening and ultimate Board selection• Emergency repair available and 24-hour customer satisfaction line 21
  22. 22. SCOPE OF SERVICES, Continued.COMPREHENSIVE FINANCIAL SERVICESTimely and Accurate Financial Reports• Billing and collections• Vendor payments• Budget analysis• Comprehensive reportsOPERATIONS & MAINTENANCEProactive Association Management• Productive board and annual meetings• Walk through and site visits• Prompt computer-tracked work orders• PurchasingBoard meetings:Riverside Property Management, Inc. organizes and contributes to your meetings by providing advice, informationand guidance to your board of directors. We have fully equipped conference rooms available for your use toconduct board meetings. Riverside Property Management’s goal is to mail an agenda & meeting packet before theregularly scheduled meeting to give the board time to review items and be prepared to make decisions.Our management representative prepares a timed agenda, completes a management report to bring items to yourattention for discussion and decisions, prints and reviews a complete computerized activity report that shows allaction items for your property, and reviews your financial statement. Each manager also reviews this packet with hisor her supervisor, who brings additional experience and advice to share with you.Annual meeting and organizational meeting:Riverside Property Management, Inc. makes your annual meeting easy by preparing the notice of meeting andagenda. We assist the board from start to finish in conducting the annual and organizational meetings. We evenexplain the roles and responsibilities of the board in conducting the annual meeting. We provide new boardmembers with a 3-ring binder to hold minutes, financials and contracts.Area walk/drive through:We believe productive site inspections, or “walk through” as often described, are critical to ensure the property ismaintained, protected and enhanced. The walk through gives each team member a chance to actually see what isgoing on in the community and ensure that jobs are being done well, no problems are occurring, and thatimprovements are made. 22
  23. 23. 23
  25. 25. SERVICES PROVIDED AS A FULL SERVICE MANAGEMENT COMPANY, WE WILL PROVIDE THE FOLLOWING SERVICES:1. Assist in the development and preparation of the budget.2. Prepare a mailing to owners of the approved budget as directed.3. Prepare a Year-to-Date Budget versus Actual analysis on a monthly basis.4. Prepare and maintain books and records necessary to produce Financial Statements.5. Prepare and submit a monthly financial summary of receipts and disbursements.6. Receive, review and approve invoices or other bills, and prepare checks for payment and subsequent mailing.7. Collect all assessments as they become due and payable, and deposit all cash receipts into the Association bank accounts.8. Maintain a record of homeowners dues and receipts, and provide a monthly delinquency listing. We will send monthly arrear notices.9. Assist your legal counsel, as necessary, to initiate required legal action consistent with the Association’s By-Laws, Covenants, Conditions and Restrictions. 25
  26. 26. Sample Homeowners Association Financial Summary As of August 31, 2010 Description Plan or Prior Current Budget Month MonthCash — Operating Checking Account $56,777.23 $76,282.24 $81,988.03BBT Account # 1234567Cash — Reserve Account $89,413.13 $89,444.24 $90,112.43BBT Account # 456789Restricted Reserves $255,102.00 $255,102.00 $255,102.00Regions Certificate of Deposit #567899Monthly Expenses $27,677.02 $19,792.14 $12,482.92Delinquent Homeowners — Number N/A 19 17Delinquent Homeowners — Amount N/A $32,578.80 $30,138.89 26
  27. 27. Community Aesthetic Controls 27
  28. 28. OPERATIONS & MAINTENANCEProactive Association Management•Productive board and annual meetings•Walk through and site visits•Prompt computer-tracked work orders•PurchasingBoard meetings:Riverside Property Management, Inc. organizes and contributes to your meetingsby providing advice, information and guidance to your board of directors. We havefully equipped conference rooms available for your use to conduct boardmeetings. Riverside Property Managements goal is to mail an agenda & meetingpacket before the regularly scheduled meeting to give the board time to reviewitems and be prepared to make decisions.Our management representative prepares a timed agenda, completes amanagement report to bring items to your attention for discussion and decisions,prints and reviews a complete computerized activity report that shows all actionitems for your property, and reviews your financial statement. Each manager alsoreviews this packet with his or her supervisor, who brings additional experienceand advice to share with you.Annual meeting and organizational meeting:Riverside Property Management, Inc. makes your annual meeting easy bypreparing the notice of meeting and agenda. We assist the board from start to 28
  29. 29. finish in conducting the annual and organizational meetings. We even explain theroles and responsibilities of the board in conducting the annual meeting. Weprovide new board members with a 3-ring binder to hold minutes, financials andcontracts.Area walk/drive through:We believe productive site inspections, or walk through as often described, arecritical to ensure the property is maintained, protected and enhanced. The walkthrough gives each team member a chance to actually see what is going on in thecommunity and ensure that jobs are being done well, no problems are occurring,and that improvements are made. 29
  30. 30. Services ADMINISTRATIVE MANAGEMENT1. Receive and investigate significant complaints regarding rule violations, and report all such violations for appropriate follow up.2. Assist and advise in the preparation of general correspondence between residents, owners, contractors, etc. Maintain a file of all correspondence received or issued.3. Assist in procurement of insurance coverage, as well as the processing of insurance claims.4. Assist in coordinating general membership meetings including Annual Meeting.5. When requested, we will attend and provide input for Board and/or operating committee meetings. PROPERTY MANAGEMENT1. Assist in a competitive bidding process for non-emergency services, and provide input in selection of contractors and in developing contract specifications.2. Obtain from each contractor relevant certificates of insurance as requested.3. Direct contractors providing recurring services and monitor specific contractor performance to ensure substantial compliance with contract specifications.4. Perform regular site inspections in order to maintain a satisfactory knowledge of the condition of the property and the performance of contractors. 30
  31. 31. 5. Receive service requests for repairs or maintenance of property.6. Arrange for prompt and satisfactory response to emergency service requests.7. Advise the Association of major problems or trends in maintenance service requests as they occur.8. Handle any problem which may arise on a responsive individual basis. Our office hours are 8:30 a.m. to 5:00 p.m. Monday through Friday with emergency service 24 hours per day, 7 days a week. 31
  32. 32. Sample Property Manager Monthly Recap SAMPLE COMMUNITY SEPTEMBER 2010 PROPERTY MANAGER RECAPPerformed Property InspectionMailed out 28 violation lettersReserved meeting room for Annual MeetingPrepared Annual Meeting mail out materialsCreated Gate/Amenities Suspension letterFiled dispute with the City of Atlanta for water bill increaseObtained pricing from the City of Atlanta for irrigation water meterSet up meeting with Court Makers for tennis court repairsContacted Talbot Tennis to set up meeting for tennis court repairsScheduled fire hydrant inspectionObtained insurance premium information from R E Bullock 32
  33. 33. Property Manager Recap ContinuedObtained 2011 service contract from SweetwaterContacted APC for termite damage at unit 710Contacted Trotter for foundation issues at unit 619Scheduled one roof leak repairScheduled repair of rusted flu pipeCoordination of 10 leases(updates)Responded to 11 violation responsesContacted Controlled Access numerous times for repairs to gate 33
  34. 34. The Risks and Rewards of Self- ManagementThink Twice Before You Become Self-ManagedIs Self Management Right for Your Community?With the wave of foreclosures, business closings and record high unemployment, there isincreasing pressure on homeowners and condominium associations to lower dues. If yourBoard is considering whether to hire an Atlanta property management company (also known asa community management association), or whether to opt for lower cost self-management, youmay want to consider the risks and rewards of your decision.Self-Management Risks.1. Not Enough Volunteers Willing to Do The Work. Self management can be done if you have agroup of committed volunteers who are willing to do the work. It’s easy to find people in theneighborhood who are willing to vote in favor of self-management if it means lower dues. It’smuch more difficult to find a pool of ready, willing and able volunteers who are prepared to dowhat it takes to effectively manage your homeowners or condominium association. Absent thatsupport, the work will fall on a handful of people, who will quickly burn out and realize they arebeing taken advantage of by neighbors who are never there when you need them to dosomething. 34
  35. 35. 2. Too Big Of An Infrastructure for Volunteers to Oversee. Self management is fine in theorybut what about when you have entrance gates, a lake, swimming pool, private roads, clubhouse,tennis courts, detention ponds and landscaping that has to be maintained? Are you preparedtake on the day-to-day challenges of working with vendors to make sure nothing falls throughthe cracks? Do you have enough knowledge to maintain the resources you have in yourcommunity or are you prepared to invest in the education of your Board members to get themup to speed?3. Insufficient Knowledge and Understanding of the Covenants and Bylaws. If you choose toself-manage, your Board members need to get a thorough education on homeowner associationmanagement to develop the know how to properly manage your Atlanta community association.You need to fundamentally understand what the Covenants and Bylaws are and how they impactyour community before you can begin to self-manage.4. Inability to Keep Up With the Bookkeeping. Do you have the software, filing system andstorage space to manage the receipt and deposit of your community association’s funds and thetimely payment of all expenses and maintenance of all association books and records? Fundsshould be deposited daily and checks should be written at least once a week. And a full andcomplete accounting system should be in place to record all transactions and make monthlyfinancial reports available to your community association. If you are self-managed, it’s vitallyimportant to put a system of checks and balances in place and to review all bank statements andfinancial reports every month to full account for all income and expenses.5. Failure to Comply with Federal, State and Local Laws. Being self-managed doesn’t mean youcan forget about properly incorporating, paying annual corporate registration fees and skip filingfederal and state tax returns. You still must require your vendors to sign a W-9 tax form and youmust issue 1099s to vendors at the end of the year. Overlooking the business of managing anassociation can be very costly to an association if you end up paying penalties for failure tocomply. 35
  36. 36. 6. Unwillingness to Confront Your Neighbors. When your community association becomes self-managed, you can no longer push off the dirty work of confronting your neighbors when theirgrass isn’t being mowed, their flower beds are overgrown and they erect a backyard gazebo inviolation of the Covenants. You must be prepared to send your neighbors collection letters ifthey fall behind in their dues and file a lien against them if they become seriously delinquent.You have a fiduciary duty as a Board member to enforce the Covenants and act in the bestinterests of your community association even if it means that doing so may undermine yourrelationship with your neighbors.7. Failure to Put controls In Place. When you are self-managed, you have a duty to protect theassociation’s assets in the event of theft, embezzlement or accident. You not only needDirectors and Officers Insurance but you should put a bond in place for everyone who has anyresponsibilities for handling the receipt or payment of association funds. You should also havean insurance rider that covers dishonesty, theft and embezzlement or some other crimeresulting in the loss of association funds. And if you should consider covering Board membersfor potential liability when they are doing the association’s business, such as attendingeducational seminars or driving through the neighborhood and doing property inspections. Oneuninsured claim against your association could wipe out any savings you have in a New Yorkminute.If you have that rare combination of committed volunteers and resources to tackle selfmanagement notwithstanding the risks, you may reap the reward of more hands onmanagement and lower dues. If you don’t have what it takes to be self-managed, you want tochoose a property management company that can manage your community associationefficiently without breaking the bank. 36
  37. 37. Here are some of the benefits of hiring a professional community association managementcompany in Atlanta.1. You Don’t Have to Be the Bad Guy. If you hire a professional property management company,you no longer have to worry about confronting your neighbors about their late payments,unkempt property or architectural modifications. Your community manager will be the one tofield the nasty phone calls from your neighbors and will take the heat when there are complaintsabout Board policies. You wont have to worry about what the neighbors will think because yourproperty manager will be the “bad guy” responsible for enforcing the Covenants.2. Your Management Company Is Fully Insured. Let’s face it. Who wants to pay a hugeinsurance premium to protect against management mistakes and errors? When you hire aprofessional Atlanta property management company, you don’t have the added expense ofinsuring for management mistakes or bonding Board members in the event of crime orembezzlement.3. Your Management Company Is On call 24 Hours A day. Unless you relish being awoken in themiddle of the night to handle complaints or emergencies, you want to pass on thoseresponsibilities to a property management company accustomed to handling water breaks,malfunctioning entrance gates and neighbors who want to discuss a violation letter or late noticeat midnight.4. Your Management Company Will Fully Account for All Financial Transactions Once a Month.Professional property management companies have specialized accounting and bookkeepingsystems to handle all receipts and payables and to full account for all transactions once in monthin clear, concise financial reports. Your Atlanta property management company maintains all thebooks and records and can be called upon anytime you have a request, need to see a copy of acheck or have a question about an invoice. They handle a myriad of accounting transactions,such as the assessment of regular dues and late charges on past dues accounts, so you don’thave to. 37
  38. 38. 5. A Management Company is Licensed and Regulated by the State. Professional propertymanagement companies are licensed real estate companies in the State of Georgia subject tostate rules and regulations. They are required to maintain all books and records and must beable to furnish back up documentation in the event of any state inquires or investigations.6. A Management Company Will Comply with Federal, State and Local Laws. Propertymanagement companies make sure your community association’s federal and state taxes arefiled on time, 1099s are sent to all vendors at the end of the year, and the association is incompliance with local laws on detention ponds, swimming pools, fire sprinklers and other safetyregulations.7. A Management Company Will Oversee All Vendors and Property Maintenance. Yourprofessional property management company will solicit new vendor bids upon request and willdeal with vendors on a daily basis in the event of any concerns.As much as homeowners complain about paying association dues and question the need for amanagement company, they are truly taken aback when they sit down and think abouteverything property management companies do for what they charge each month. Be sure youare prepared to take over these responsibilities before you decide to become self-managed. 38
  39. 39. Finding the Right Property Management CompanyTen Tips for Finding the Right Property Management Company For Your AssociationHOA management companies in Atlanta range from the mega, big-box companies to the Momand Pop companies run by families. Regardless of the size of your association, you shouldunderstand the key differences in management companies and how to choose the bestmanagement for your HOA or condo association.Here are ten things you should look for in an Atlanta HOA Management Company:1. Find a Locally Owned Company. Working with a locally owned and operated managementcompany means that all management decisions originate in Atlanta and not 800 miles away.Locally owned management companies are focused on the Atlanta market and their key vendorand banking relationships are right here in Georgia. Best of all, if you ever have a question orconcern, you can personally visit and meet with the company and its highest executive officersand inspect any and all management records.2. Make Sure Your Management Company Banks with a Georgia Bank. Banking locally meansfewer errors in banking transactions and more efficient depositing of HOA checks without delayscaused by interstate bank transactions or delayed mail processing times. It also means that ifyou ever have any concerns or a need to withdraw or move funds, you can do without any delay.If your property management company works with an out-of-state bank, you will have a longerturnaround and less access to records and money when you need it. 39
  40. 40. 3. Find a Company That Delivers Financial Statements at the Beginning of Every Month. If youentrusting your company’s affairs to a management company, you have the right to receivetimely and accurate financial statements every month. If your management company is givingyou full and complete financials by the 10th of every month, something is wrong. Either they aretoo big and inefficient, understaffed or lack the organization they should have to effectivelymanage your community. And make sure the financial statements include a Balance Sheet,Income and Expense Statement, Cash Receipts Journal, General Ledger and Check Register aswell as copies of the actual bank statements. If the management company can’t provide youwith all of these basic financial documents (and many cannot), there is something wrong andyou need to find another company.4. Insist on Complete Transparency. There is nothing magical about what managementcompanies do and nothing should be secret from the Board. The Board should be able torequest records and get them without a runaround. And the Board should be able to reviewevery property inspection the company performs. Too many companies claim they do propertyinspections when in reality they whistle through the neighborhood on the way to Starbucks.5. Make Sure You Get to Choose All Vendors. Management companies often have “sweetheartdeals” with vendors that enhance their bottom line and cost the HOA more money. So when itcomes to selecting vendors and soliciting bids, make sure you are able to direct what companiesyou want to receive bids from and that you make the decision of who to hire. If anymanagement company tells you that they select all of the vendors, pack up your bags and run!6. Be Realistic. Management companies deal on a very low profit margin. Think about whatservices you want and what you are willing to pay for. If you want weekly property inspections,you are going to pay a lot more than a neighborhood that wants monthly property inspections.But are weekly inspections necessary or reasonable? Most Covenants require that associationsprovide homeowners a minimum of thirty days to correct a violation. Weekly inspections wouldbe an unnecessary waste of resources and would only increase the management costs.7. Look at the Company’s Insurance Before Doing Business With Them. Is your HOA propertymanagement company insured to cover your association in the event of a loss? Do they have 40
  41. 41. liability insurance in case they hit the front entrance sign on the way into the neighborhood? Dothey have an umbrella insurance policy just in case? Do they also have fidelity coverage in caseone of their employees steals from the association coffers? Do they have workers compensationcoverage in case one of their employees is hurt on the job? If not, you probably need to findanother management company.8. Beware of the Big Boys. Bigger management companies often have longer response timesand more “red tape” to deal with. If an Atlanta property management company has to referyour question to someone else in the company or can’t get a bill paid within five days ofreceiving it, you are going to be frustrated dealing with the company and the delay in responsetime is ultimately going to cost you time and money. Also, lack of service and delayed responsesput your Atlanta HOA, High Rise or Condo association in situations of extreme liability. Ifproblems concerning the health and well being of the public, lets say a tripping hazard or leakingroof in a community center, aren’t addressed immediately the cost and liability associated withthe problems rise exponentially.9. Meet the Company Representatives. You will never get a true sense of what a managementcompany does and how companies differ from one another until you meet with representatives.If all you are doing is collecting bids and comparing prices, you are missing the boat. If themanagement company representatives aren’t “liable,” when you meet them, they sure aren’tgoing to get any better when they talk to homeowners. And make sure they are willing toreturn all phones, not just calls from Board members, from all homeowners within 24 hours.Many companies will give “A+” service to Board members and “D-” service to the homeowners.10. Visit the Company Offices Before You Decide. Worried about who you are doing businesswith? There is no better way to get a sense of how your management company operates thanby a personal on site visit. Is the office clean, neat, professional and organized? It should be ifthat is how they conduct business. If the office is a disorganized mess with boxes piledeverywhere and papers scattered in a heap, you may want to choose another managementcompany. 41
  42. 42. Budgeting and Reserves for Condominiums Most covenants for condominiums require that the association include as part of the annual budget, an allocation for reserves. Reserves should be set aside for roofreplacement, pavement resurfacing, building painting, and any other item of association responsibility with a replacement cost or deferred maintenance expense of $10,000.00 or more. Traditionally, the reserve schedule accompanying the proposed budget has used the “straight line” method of calculating required reserves. For example, assume that the roof on a condominium building has a twenty year useful life, is ten years old, and will cost $100,000.00 to replace. Further assume that the current amount of money in theroof reserve is $50,000.00. The association will need to collect $5,000.00 per year, over the next ten years, to accumulate another $50,000.00 so as to “fully fund” the roof reserve. This is traditional, “straight line” funding of reserves. Similar calculations are then made for all other required reserve items (buildingrepainting, pavement resurfacing, and other items with a replacement cost or deferredmaintenance expense in excess of $10,000.00), and the annual contribution required to “fully fund” the reserve account is thus arrived at.When reserves are funded on the straight line method, whether fully funded or partially funded, they should only be used for their intended purposes. For example, money should not be taken out of the roof reserve account to pay for painting the building.However, the association can use reserve funds for non-scheduled purposes if approved in advance by a majority vote of the unit owners. 42
  43. 43. The concept of “cash flow” or “pooled” reserve funding differs from “straight line” reserve funding. Under pooled reserves, it is still necessary for the reserve schedule which accompanies the annual budget to set forth required reserve items (roofs, painting, paving, and other items with the replacement cost/deferred maintenance expense of more than $10,000.00). Further, the “cash flow” reserve schedule must still disclose estimated remaining useful life and replacement costs for each reservecomponent. The main difference in the cash flow presentation of reserves is that instead of each reserve line item having its own fund balance, there is a “pool” of money in the reserve fund, which is available for costs affiliated with any item in the reserve pool. For example, the painting and roof reserve monies are “pooled” into one fund, so a vote of unit owners is not required for expenditures from the fund, as would be the case in astraight-line reserve scenario where monies from one reserve account would be used for another reserve purpose. As with “straight line” reserve funding, with pooled reserves, a vote of the unit owners is should be required to use reserve funds for operating purposes, or for any expenditure involving items that are not part of the “pool”. The pooling method of reserve funding attempts to predict when a particular item will require replacement or deferred maintenance, and reserves are scheduled and fundedso as to insure that a necessary amount of funds are on hand when the work needs to be done. Theoretically, monthly or quarterly reserve contributions can be lowered, while still avoiding special assessments. Of course, what works in theory does not always work when placed in human hands. Inaddition to needing a crystal ball to predict exactly when a reserve expenditure will need to be made, reserve contributions may be substantially higher in certain years, such as when the fund is depleted for the replacement of a required item, and there is a short useful life for the next asset that needs to be replaced.A condominium reserve fund helps associations pay for maintenance and upgrade costsas they become due. As a property owner, you will be well aware of the benefits which accrue from setting aside sufficient reserve funds. The association will better maintained over time and you will lessen the need for special assessments to make up future budget deficits. 43
  44. 44. How to Run an HOA Board MeetingThe Secret to Good Board Meetings.Board meetings should be productive, efficient meetings where the board conducts business.Are your board meetings productive and efficient? Does the board meet to conduct business orsocialize? Are you getting the most out of your meetings?Consider doing a few of these things:Prepare a Realistic Agenda. Five page agendas with 50 objectives set out may be impressive butthey are unrealistic and counter-productive. You need to set a list of priorities for each meetingand focus on those issues. If you have 50 issues you want to address, spread them out over thecourse of the year. You will be more efficient and see better results if you are able to manageyour agenda.Set an end time to your meetings. Meetings should last no more than an hour. Start themeeting when it is scheduled to begin and get straight to business. If you collectively have thefocus to get done in an hour you’ll be amazed with how much you can accomplish. If you haveno time 44
  45. 45. limit, the meeting will typically drag on and a lot of time will be wasted. When time is wasted ata meeting then people are less likely to volunteer because they feel their time is wasted. Onehour meetings have a major impact on volunteers. Associations that hold focused, one hourmeetings have more people volunteer. It’s also important to note that those volunteers stayactive the in the community for much longer. Length of your board meetings may seem like atrivial matter, but it really does have a large impact on how the volunteers of the associationview the organization and, in turn, how they view their role.Be familiar with the Covenants and Bylaws. Key elements with which board members shouldfamiliarize themselves are the association’s governing documents that define the board’sauthority. If you have a management company, they should provide guidance on your role as aboard member, your fiduciary responsibility, specific board responsibilities from decision-makingto administrative tasks, and how to conduct and participate in board meetings. Other vitalinformation will include how to avoid personal liability, professional conduct at meetings,parliamentary procedures, the operating and reserve budgets, federal, state and local laws thatimpact your community, and appropriate insurance coverage.Come prepared. Be familiar with the issues that will be addressed at the meeting. If you havequestions, ask them prior to the meeting so that your manager (if professionally managed) canhave ample time to find the answers. This will help the meeting be more effective and brief.There is nothing more frustrating to those attending the meeting than for fellow board membersto come unprepared and want to discuss issues at great length.Make the meeting a time for action. Next, hold action oriented HOA board meetings. Don’t justdiscuss issues, make decisions. Every item up for discussion should end in a vote to moveforward in some way or table the issue with a clear understanding of why the item is beingtabled and when it will be revisited. When taking action on an item make sure it is clear who willbe responsible for getting that task completed. Ambiguity cripples a board.Don’t be confrontational. Board members should recognize they are part of a team and not takea confrontational position with fellow board members or their management company. No oneshould have to work or conduct business in a hostile environment. Realize that at times you will 45
  46. 46. not always agree, but take the position that even disagreement can bring compromise andconsensus. Be concise with your opinion and thoughts and then be sure to listen to others.Always be respectful of your fellow board members and staff, as well as the homeowners. Thetone of the board can set the tone of the community. So, if you want to have a healthy, vibrantand successful community, you should reflect that image as a board member.Treat your Community Manager with Respect. Your community manager is your agent, not youremployee. They act on behalf of the board and facilitate the decisions of the board. Rememberthat they are professionals and should be treated as such. It can be detrimental to a board andits community to consistently be at odds with their management company. They are there tooffer their expertise based on their experience, training and education to ensure that the boarddoesn’t compromise their fiduciary responsibility. A board should trust and rely on theirmanagement company’s vast experience and unlimited resources. If your board has lost trust inthe management company, have a frank discussion with the company’s CEO regarding whateverproblems exist. Perhaps a different manager can restore your trust, eliminating the need to startall over with a new company.Be a Team Player. If you recognize that, as a board member, you are part of a team of volunteersand management experts, you will be rewarded when you use those resources to makedecisions that are based on sound business judgment. This, in turn, will inspire others to serveand build a team of future leaders who will want to emulate your leadership. By doing so, youwill find serving on the board is not a burdensome chore, but a rewarding experience that youwill value for years to come.Be determined to have one of the best HOA’s in Atlanta by having an HOA managementcompany that focuses on helping you have effective meetings. 46
  47. 47. Don’t Let Your Neighborhood Go to The Dogs! Who Let The Dogs Out?? Pets are a very controversial subject in Atlanta Homeowners Associations andCondominiums. Many association documents place restrictions–including type of animal, specific breed, etc.–on which pets an owner may have in their home.Often, these boundaries will limit even the number of dogs or cats an owner mayhave on their property. Atlanta HOAs also frequently prohibit all “livestock, cattle, and fowl” on the property, while some forbid all types of reptiles. Additionally, many condominium restrictions even place limitations on the size or weight of dogs. Enforce Pet RestrictionsWhen evaluating pet restrictions in your Association, it’s important to consider (1)the sort of behavior you’re trying to regulate and (2) the clarity and consistency of your rules. For many owners, pets are considered family; rather than banning 47
  48. 48. these furry family members, many Atlanta Community Associations choose to establish policies regarding animal waste clean-up, off-leash areas, and noise control. Be Wary of Discrimination LawsIt is also important–when forming pet restrictions–to remember there are federalanti-discrimination laws that come into play when an Association regulates service animals for the disabled A pet restriction that interferes with a disabled person’s use of a guide animal is often unenforceable. Review Local Ordinances Finally, for those that keep exotic pets, consider both your HOA’s governingdocuments, as well as your city or county ordinances. Many municipal codes place limitations on keeping “exotic animals”–such as big cats, snakes, and other reptiles. 48
  49. 49. More Information on Riverside Property Management, Inc. For additional information about our company, please feel free to utilize one or more of these resources.Website: http://riversidepropertymgt.comVideo: http://www.youtube.com/user/AtlantaHOAServices?feature=mheeBlogs: http://atlantahoaservices.wordpress.com/ http://atlantapropertymanagementcompany.wordpress.com/Social Media: http://www.linkedin.com/profile/view?id=103766542&trk=tab_pro http://twitter.com/#!/HOAServicesATL 49