North Shore Property Management Inc. has developed a proprietary 7 Point Management Plan for the Home Owners Association (HOA) industry. Our business model promotes pride in ownership and long-term financial sustainability of your property utilizing our several years of experience and education. We believe that communication, transparency and community involvement are the keys to success while maintaining a focus on improving the value of your investment.
Your community management company must understand their role as a fiduciary manager and develop procedures and policies that provide complete transparency. NSPM understands that role which gives owners peace of mind that their reserves and operating funds are protected. We will develop a procedure recommended by the top forensic accountants in HOA management. This includes:
An effective management company develops a clear understanding of governing issues of an HOA. For a Board of Directors, proper governing of an HOA is crucial in maintaining the trust of its owners and instills confidence that all Board members are accepting responsibility and following its guidelines as set out in in the original documents.
A management company has a responsibility to understand an HOA’s legal responsibility according to applicable federal and state laws as well as adherence to the governing documents. A management company should study all governing documents and guide the Board in ensuring governance guidelines are being followed. A management company should assist and lead in areas such as annual meetings, identifying conflicts of interest, proper record keeping, enforcement of rules including architectural guidelines, maintaining financial transparency and more.
NSPM will properly screen potential outside vendors and develop an inspection program with the vendors to assure adherence to a pre-specified quality of work. NSPM will develop a preventative maintenance program to assure long-term sustainability of HOA tools and buildings.
NSPM firmly believes that if owners are involved in their community they take tend to take more pride in it. NSPM will help set up and organize social events, committees and other events throughout the year.
Communication to owners as well as the governing board is one of the most crucial elements in the management of property. NSPM uses state of the art software in website design as well as email communications. All owners receive access to an “owner only” portal linking them to their account online as well as the latest information on what is going on with their HOA.
Each HOA is different and requires different needs mostly based upon owners demand. NSPM will meet with your Board and owners and identify what your objectives are as an HOA and help you implement them.