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Run better HOA board meetings: Tips and tools for association managers

Buildium

Compliance: Meetings help confirm that all actions and decisions align with the communitys governing documents and relevant legal requirements, thereby safeguarding the communitys interests. This position also involves preparing financial reports, managing contracts, and keeping all communication channels open and effective.

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6 Property Management Tax Mistakes: Are You Making Them?

Buildium

You have to keep your money separate from your owners, and youll need a trust account to handle tenants security deposits, all of which is regulated by the state in which you operate. Mistake #4: Keeping Inaccurate Accounting Records Weve heard it so many times from property managers.

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Property Management Software: Managing Vacation Rentals

Avantio

Is investing in property management software the key to success in a competitive industry? This question resonates with property managers worldwide looking for efficient ways to streamline operations, maximize revenue, and enhance guest satisfaction. What Is Property Management Software?

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The FTC Lawsuit Against Invitation Homes: What It Means for Property Managers

BetterWho

Enhanced Regulatory Scrutiny While Invitation Homes settled for $48 million, property managers of any size could face lawsuits if they are not diligent in adhering to tenant rights. Stay proactive by regularly reviewing your practices to ensure they meet local and federal regulations.

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Marketing an HOA management company: What to focus on plus 8 strategies to keep and win clients

Buildium

From interviewing every candidate to managing invoices and overseeing insurance compliance, its no wonder why many board members want to put this task on a community managers to-do list. However, on its own, pulling all the data and putting the reports together can take hours of the community managers time.

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How Property Managers Save $100,000 a Year By Hiring RTMs at $6/hour

BetterWho

Compliance and Technical Training Provide comprehensive training on important regulations such as fair housing laws to avoid potential legal issues. Software and Tools Proficiency Whatever software and tools you’re using, such as CRMs, property management software, etc., you need to train them on it.

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Understanding HOA finances: A practical guide for association managers

Buildium

That said, each state has specific guidelines about how reserve funds can be invested, so it’s crucial to research the regulations in your area before diving in. When in doubt, it’s best to play it safe since you’re managing large sums of money that belong to the entire community.

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