What's going on in the CAM industry this week? Survey says: survey results from BillingTree! Plus, how to convince your board your advice is solid, creating shared accountability between the industry and it's homeowners, and how to choose a quality manager. Find out this week in the CAM Mashup!
As an educated member of the Community Association Management industry, you already know how crucial it is to stay informed and up-to-date on the latest news, trends and happenings within the industry. Each week, we bring together our favorite reads of the week and share them with you! Enjoy the CAM Mash Up and please share it too!
Reading is Fundamental
"Reading and understanding the documents is fundamental to managing the community. It is vital for owners to have a fundamental understanding of what their responsibilities are in order to have the best opportunity to enjoy their community. I would love to have a larger conversation about how we, as an industry, can help foster a sense of shared accountability for how the association’s governing documents impact every owner, guest and vendor. Any ideas?"
The CAM Industry is Behind the Times
BillingTree recently performed a survey within the community association industry that reveals how the industry handles payments. The results were...scary. But maybe not all that surprising. "Currently, CAM managers are universally accepting payments via phone with a live agent, with half also accepting in-person payments, and half providing an online payment portal. This means that all of the surveyed managers are still relying on employees to handle this time-consuming payment collection method, and is the main pain point community association management companies are looking to address in their payment collections." Let's get with the technological times guys!
HOA Collections Policy
"As you well know, an HOA can’t function without a reliable stream of income, and that money only comes in if residents pay their monthly assessments. Sadly, the world is full of loose cannons. You know… human beings with mortgages, car payments, illnesses, and lives that sometimes get in the way of paying their HOA dues. However legitimate the cause, when a portion of HOA income becomes sporadic, irregular, or goes missing altogether, your HOA collection policy comes into play. How good is your HOA policy?"
You Can Lead a Board to Water...
"I was discussing an area of frustration to a new(ish) manager. He was having difficulty convincing the board of directors that his recommendation was the best option for their community, and he frequently has to wrestle with them to get them to accept his advice. My advice to him was: stop trying so hard to get them to accept your recommendation. You are creating your aggravation." Read more for some solid advice (as usual) from Tanoa!
Hiring a Good Manager
"Choosing a community manager is one of the most important decisions that a HOA and condo board will make. Talk about pressure! You need to be careful in your selection because the people who work on your community's management team-especially those on-stie-will affect quality of life for residents. So it's important to make a smart choice." Let's discuss further.
Get Your BOGO
Management company executives, community association managers, accountants and administrators across the country are invited to join TOPS and over 30 leading community association service providers for 3 incredible, high energy days that will inform, inspire, and ignite a passion for the CAM industry. CAMfire 2018 will bring together 400+ CAM professionals at the Caribe Royale in Orlando, Florida from February 28 to March 2, 2018. Learn more and register for early bird Buy-One-Get-One tickets now!
Do You Have Big News This Week?
If you've got big news that would be relevant to other CAM professionals, please share it with us in the comments below!