Common Interest Services has a variety of HOA management services for you to choose from.  No matter the level of HOA management you require, I’m sure we’ll have something to meet your needs.

HOA Financial Management Services

CIS uses a seasoned staff of dedicated accounting personnel.  The staff is trained to use a powerful, customized HOA management and accounting software from HOA Data Services.  Our goal is to create the most accurate and transparent records for your Homeowners Association.  Your CPA will agree that we regularly meet that goal.

• Financial  Monthly Financial Reporting.  Maintain the General Ledger and produce monthly financial management reports. This exceeds the quarterly requirement for HOA Management imposed by the State of California.  HOA financials are processed upon the receipt of bank statements and are e-mailed to all officers.

• Balance Sheet Preparation.  The Balance Sheet is prepared to meet accounting industry standards for HOA management. It consists of an overview of the balances to date of current assets, liabilities, and equity.

• Statement of Income and Expenses is preparation.  This document shows both the budgeted and actual incomes and expenses throughout the month.  The incomes and expenses are broken into appropriate subcategories.

• A/R Aging Report. The Accounts Receivable Aging Report shows information on any delinquent accounts as well as amounts that are prepaid, currently due, overdue by 30 days, 60 days or over 90 days.  Collections statuses such as Legal Hold, Lien, Foreclosure, and Inactive are also noted on the accounts.

• Check Register. The Check Register recaps all monthly payment activities.  Each entry includes the payee, payment date, amount, account and/or invoice references, and general ledger coding.  Following this report are the account statements from the HOA’s bank.  Each statement is paired with a reconciliation report showing any payments that have not yet been cashed.

• Accounts Receivable.  Billing Statements are sent to owners on a monthly basis. This effectively increases the timely collection of receivables while providing to owners a short review of their assessment account history.  Receivable funds are deposited daily into the bank account owned by the client.

• Accounts Payable.  Invoices are entered into a sophisticated HOA management software system for check printing on a weekly basis.  Where available, clients may view and approve or hold invoices online before the check is printed.  When CIS is given signature authority, checks are sent directly from the HOA management office to the payees for maximum efficiency.  Otherwise checks and copies of corresponding invoices are sent to the On-Site General Manager or Board Treasurer for signature and disbursement.  Utilities and other regular payments may be set up as automated, reoccurring electronic payments.

• Annual Financial Report.  In addition to the reports included in the monthly financials, the Annual Financial Report includes a General Ledger Balance.  The GL Balance shows a detailed account of transactions under every general ledger account category, such as landscape extras or postage.  This report is provided to the client’s approved CPA.

• Collections. CIS staffs highly educated HOA collections personnel to assist clients with complicated collection activities for HOA management such as placement of liens and foreclosure.  Common Interest Services follows the most current regulations set forth by multiple statutes.  CIS works with professional HOA collections attorneys such as Witkin & Neal, Inc.

• Budgeting. About two months prior to the mailing deadline for a fiscal year budget, CIS prepares an easy to read, easy to adjust proposed budget.  A certified HOA Management Specialist (AMS) prepares the proposed figures using historical trends, contract agreements, professional speculation and recommended figures from professionals.

Manager Services

The fundamental goal of HOA Management is to maintain the value of the common interest property.  Common Interest Services, Inc. assigns a property manager to each full HOA management client to help the Board more easily make the decisions to meet that goal.

• Maintenance. Nine times out of ten, it is vastly cheaper to perform preventative maintenance and upkeep before components of your building fail.  The manager analyzes the maintenance programs in place and detects any areas that the HOA may benefit from a new or revised maintenance plan.  The manager uses the reserve study guidelines, information from onsite walk through inspections, and advice from industry professionals to schedule the replacement of components.

• Repairs. Although maintenance programs reduce the frequency of component failure, CIS HOA management professionals are in position to resolve those problems as they arise.  Using a responsibility matrix or other direction provided by the client, the manager will work within the budget limitations on repairs.  If necessary the manager will obtain bids for the Board’s consideration.  If a client has not developed a responsibility matrix, the manager can help to have one adapted.

• Vendor Relations. Unlike other HOA management companies, CIS will happily work with any of the client’s current service providers.  The manager will work with the Board and meet with your service providers to resolve any problems with service.  At the client’s request, CIS will review current contracts, negotiate with contractors and obtain new service providers to work with the project.  CIS currently works with a list of over 3000 service providers.

• Owner Relations. The property manager acts as a liaison between the Board of Directors and the homeowners.  Maintenance requests, compliance issues, accounting questions, document requests and all other questions, requests and complaints are routed through the management office.  When necessary, the manager will assist the Board with compliance processing and other issues which require action from the Board.

• Walk throughs. At the beginning of the HOA management contract, CIS may create a walk through schedule.  The walk through schedules are customized to fit the needs of each client.  While on walk throughs, the property manager will review many of the accessible components listed in the reserve study to visually inspect for damage or the need of maintenance.  The manager will check the status of ongoing projects and repairs, and will record any compliance issues as requested by the Board.

• Meetings. At Common Interest Services, property managers work with new and experienced Officers alike.  CIS managers strive to ensure that clients are aware of current laws and regulations and methods to adhere to those regulations.  At the Boards request, the manager will compose and submit a report to aid the Board during a meeting.  At the meeting, the manager will offer support, and aid the Board to make decisions effectively.  The Torrance office conference room may be made available upon request at no additional cost to the Association.  Of course, this is subject to availability.

• Elections. CIS property managers assist clients to schedule the annual election.  Common Interest Services will create and issue nominations forms as well as the notice of annual meeting and election balloting materials.  If allowed within a client’s election rules, a CIS employee we may act as Inspector of Elections.  At the client’s request, CIS may contract with a recording secretary on the client’s behalf.

Administrative Services

If your association does not keep a full administrative office staff, don’t worry.  Every HOA management service package Common Interest Services provides includes access to our full administrative capabilities.

• Clerical Services. Our administrative staff offers coping, folding & stuffing, and postage services.   Preparation and distribution of mailers, reports, ballots, keys/transmitters, and required disclosures are available to all clients.  Common Interest Services’ rates remain competitive with local copy and print shops as well as competing HOA management firms.

• On-Line Services. CIS provides a free online service for all Board members and homeowners.  Owners are able to submit repair requests, access their individual assessment accounts, and access useful Association documents.  Board members also have access to various up to date HOA management reports such as GL trial balances, payment histories, delinquent unit reports, and more.

• Other services. Other administrative services include record storage and access,  and use of the meeting room make our company ideal for many local Homeowners Associations.

HOA Management Introduction: 90 Day HOA Management Plan

During the first three months of our work together, we will assess your financial operations, policy statements and operating procedures.  We may offer suggestions to revise your current operations or to adapt new policies.  This is to help your Board to become more effective or to bring the Association into compliance with current regulations. The following are examples of the areas we review:

• Budget. We review the amounts budgeted to meet each of your expense categories to determine if the Association is operating within its guidelines and if it is used properly as a planning tool.

• Reserves. A review of the most recent Reserve Study shows us if the Association has set aside adequate funds for reserve expenditures.  If the reserves are less than 70% funded, the Manager may review potential problems to assess the likelihood of upcoming special assessments.

• Collections. We will make inquiries in to your Associations collection policies to ensure that the policies are in line with current codes and the regulations set forth in your governing documents.  We will also review your annual collection disclosures.

• Policies. Policies such as the waiver of late fees and move in/out deposits will be reviewed and established if necessary.

• Operating Procedures. Your manager may establish standard operating procedures. These often include distribution of keys, the running of Board meetings, the appointment and duties of a Board Liaison, etc. If necessary, the manager will advise the Board about a responsibility matrix for repairs.

At the end of the initial three months of HOA management, your manager may compile a list of recommendations which may include adapting legal changes to the governing documents.  The manager will inform the Board when it is appropriate to consult with an attorney.  At the Boards request, the manager may provide a list of HOA attorneys.

If your current HOA management company is not providing any of the services above, your association deserves better.  Contact Us today to find out more about HOA management services for your community.