Management group ensures HOAs are financially responsible

Community Management Group works with more than 60 HOAs in town, goes above and beyond to educate, train its boards

LAS VEGAS Nowadays, HOAs are under constant scrutiny. While this pressure – which has been added to all HOAs as a result of the actions of a few – is difficult at any time, it’s especially difficult during a time when HOAs are expected to perform all the functions they always have, but with smaller budgets (as a result of loss of HOA dues while many homes sit vacant).

Community Management Group, which manages more than 60 communities in town, helps their communities address such challenges.

CMG’s managers work with their HOA boards to maximize their funds and spend responsibly.

(Each CMG manager’s portfolio does not exceed 10 associations or 3,000 units, as smaller portfolios allows managers to devote appropriate time and attention to each association he or she manages.)

To do this, CMG’s managers:

  • Help their HOA boards make their money work smarter.
  • Explain accounting in laymen’s terms so board members can understand what they’re dealing with.
  • Provide board trainings with CMG staff members and with experts in the field (like CPAs).
  • Help the boards adjust their budgets to ensure operating and reserve accounts are healthy.
  • Bring in investment counselors and bank officials to help boards make important decisions.
  • Provide their boards with a detailed review of reserve study (a budget planning tool) every year in accordance with NRS116.
  • Encourage boards to discuss problems with industry-specific experts such as lawyers or CPAs.
  • Monitor CDs, renewal cycles and encourage boards to review rates frequently.
  • Review contracts with vendors annually to ensure property is being maintained properly and the association is getting their money’s worth.

An example of how CMG goes above and beyond to make its communities a great place to live, these efforts are all a part of the services CMG provides to every HOA the company manages.

“Being on an HOA board is more difficult than people would think. In many ways, it’s like running a large company. There are budgets to balance, quotes to compare, vendors to choose from, and much, much more,” said Courtney Murphy, president and supervising community manager for CMG. “Still, it’s important people understand what it is they’re doing. That’s why we work so hard to help and educate our board members.”

Established by longtime Las Vegan Courtney Murphy in 2009, Community Management Group is a Nevada-based community association management company serving assorted planned unit developments in theLas VegasValley.

Providing top customer service in all facets of its work, CMG works with homeowners, HOA board members and vendors to assist in decisions to maintain communities’ property values and ensure the preservation of associations’ financial health. The company’s services – handled by a team of certified managers – balance fiscal responsibility, cutting edge technology (which is unique in the field), homeowner education and a positive atmosphere for all its clients, from single family and business parks to condominiums and master planned communities.

For more information on Community Management Group, visit www.cmg-hoa.com, call 702-942-2500, or follow the company on Facebook at www.facebook.com/CMGlv.  

0 Comments

  • HOA Accounting Companies  commented on April 25, 2012 Reply

    An example of how CMG goes above and beyond to make its communities a great place to live, these efforts are all a part of the services CMG provides to every HOA the company manages.

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