Homeowner Association Management Teams Bring Added Value

One reason that people choose to rent property instead of buying is the ease of doing so. They pay their rent every month and, because they do, they know that the property will be cared for. After all, how nice is it that maintenance is just a phone call away? Property owners, generally, don’t get this luxury.

Many neighborhood and condo associations organize themselves into home owner associations in order to take share the financial burden and management burden of caring for property. Usually, monthly meetings are held in which maintenance decisions are made, the financial health of the organization is evaluated, delinquent payments are discussed, and future plans for the neighborhood or building are proposed. Most of the time, these organizations are run by one member who invariable sacrifices much of his or her time managing the association. These volunteers hire maintenance, lawn service, check local building codes, recover late payments, and manage the association’s money.

New association management companies are now providing an affordable alternative to volunteer-only home owners associations. The problem is that a volunteer, if they did just the minimum needed to maintain the building, spends a lot of his or her time. So, there are things that the average volunteer probably would not go out of their way to do. For instance, an association management company can offer professional financial analysis. I doubt many volunteer association managers do that.

Surprisingly these management companies are able to provide this service at a reasonable cost. They are able to do so, because they spread the costs of, say, a gardener, among many properties. So, because the manager is “a big” client of his lawn care business, he gives him a deal. Fees depend on the level of management, i.e. number of services, needed by the association. They provide services that most associations already use, but they can also to add value to the property by providing professionals to serve the associations. Their experience personnel attend association meetings and provide information to it members about monthly financial reports and budget preparation.

There are two major advantages to outsourcing the association’s management. The first is that collecting delinquent payments from your neighbors can cause a lot of problems. Association managers will do that for you and will even start the early stages of the collection process. The other main advantage is that it makes your property more marketable. One of the first things a potential buyer is going to look at is the financial health of the association. If you show them monthly financial reports, there is no doubt they will be impressed.

Managing a home owners association is a daunting task, one that with which working professionals can barely keep up. Yet for a similar price, the grunt work can be outsourced to a company whose business is property management. This service could add value to your property while taking the headache of owning a home away.

When do You Need a Financial Management Company on Your Side?

We live in a crazy world. Someone ought to sell tickets. It seems that people, especially those in the US, are always clamoring for products and services that they don’t need and ignoring those that they do. Financial Management is a prime example. Companies that provide financial management services are often inundated with requests from potential clients that really can’t benefit from their services while many people that should be using a financial manager of some kind are literally flying by the seat of their monetary pants without anyone to navigate for them.

So, how do you know when you need an accountant or financial manager of some kind working for you? Just ask yourself these questions:

o How many bank accounts do you have and what are the balances in each?

o How many investments do you have and what are their values?

If you couldn’t answer these questions without getting out files and statements to look up the answers, you may need to higher a company or individual to meet your financial management needs. If your bank accounts include a checking, savings, and maybe a CD or IRA account and you own ten shares of stock in some XYZ company, you probably don’t need a financial manager at this time.

Most reputable financial management companies will let you know up front whether you can benefit from their services. A few, however, will take on as many clients as they can, regardless of whether that client really needs a financial management team working for her.

Financial management companies can do a wonderful job of helping you turn your money into more of your money. Everyone would like to see a thousand of their favorite dollars become ten or twenty thousand of their favorite dollars. If, however, a thousand of your favorite dollars represents all of your dollars, you don’t need to worry about a financial manager at this time.

What is the Most Effective Quality Within Your Sales Management Team?

Sales has always been a team effort even if you are one person team because your potential customer (a.k.a. as prospect) is also a member of your team. If you could identify the qualities of an effective sales team, what would you consider those to be?

Would you say:

  • Sales skills?
  • Marketing maneuverability?
  • Attracting attention?
  • Inciting interest?
  • Developing desire?

Yes, these are all necessary qualities of an effective sales team, but not, in my opinion, the most effective one. Before I share that with you, what does the word effective mean to you. For me, it is doing the right thing. Some confuse effective with efficient and that means doing things right.

Legendary Coach Vince Lombardi began each football practice season by holding a football in his outstretched hand and making this simple statement: “Gentleman, this is a football.” Under Lombardi’s years, the Greenbay Packers only had 5 offensive running plays. However because they executed these plans flawlessly, they were able to consistently win game after game.

Flawless execution is the most effective quality for any sales team. When you consistently execute your overall sales process that marries marketing and selling skills together, you will always increase sales except for those unique events that are outside of your control such as 9/11 or the international financial meltdown in the fall of 2008.

Of course if you do not have an overall strategic action plan, separate marketing, sales, customer loyalty, financial, growth & innovation and management & leadership plans, written goals for each of these plans and time to practice flawless execution, then your team will start coming apart at the seams. Possibly, you may also need to assess your team to determine the actual talents within your team as well as to what motivates individual team members to take action.

Sometimes by returning to the basics, as Coach Lombardi did every practice season, your sales team can increase sales. Who knows those in sales management may also have a lot less stress given that 40 to 70% of all sales targets are not achieved.