Condo Association Management
Full-service association management
Let’s face it: condominium and townhome associations are uniquely challenging. From infrastructure, to financials, to insurance they require expertise and resources. No other management company offers the in dept facility, financial, insurance, and HOA management expertise that RISE does. We are one-of-a-kind because we were built precisely for this. We have decades of expertise in each core function of your condominium association all under one roof.
The industry has long offered the same solution to these challenges: a community manager with 20 other properties. We flip this on it’s head with a team of experts assigned to provide you with solutions.
- Long Range Planning from our CFO level Experts
- Facilities Expertise and Guidance
- Risk and Insurance Expertise
- Expert Weekly Management Reports
- Proactive Deed Restriction Management
- The Industry’s Top Accounting Team and Reports
- A Board and Homeowner App with Real Time Operational Reporting
We begin our relationship by evaluating the financial situation, followed by the development of your own Community Association Financial Strength (CAFS) Plan. This process helps both the Board and RISE set the benchmark for creating financial goals and objectives.
We Specialize in
We specialize condominium and townhome associations. In fact, we quite literally wrote the book on it (ahem- we mean property code). This is all we do and that is precisely why we are so good at it. We have proprietary systems and tools but most of all we have fantastic people who care deeply about being a great partner to you.
How much does management cost?
This is usually one of the first questions on your mind and it is also the most difficult to answer. A lot of factors can impact pricing for Association Management Services. These factors can increase or lower the price and usually include:
- Whether or not you implement a facilities management program
- Number of meetings and whether they are day time or evening meetings
- Number of units
- The maintenance condition of the property
- Whether you are involved in active litigation
- How complicated your financial situation is
- and how quickly can we get decisions on pending projects
Condominiums (1 to 3 levels):
With that being said, most of our clients who choose a facilities management program and are around 60 units will usually pay around $20 per unit per month for our standard management services. This includes our full suite of services and expertise including management, facilities, and risk services. Click here to get a formal quote.
High Rise/Mid Rise Condos (4 or more levels): Since these vary so widely based on-site personnel and other facilities services send us a little bit of information and we’ll put something together for you. Usually these start around $25 per unit.
Condo-Tels/Timeshares/and Vacation Properties (Daily Rentals, any size): Since these usually involve on-site personnel and other facilities services this will vary widely. We would rather you submit a form before we throw out a number.
What is a Community Association CFO?
We take your financials incredibly seriously. They are the foundation of your future planning and great financials help you to make great decisions. So consider us your fractional CFO. As opposed to a typical property manager the CFO’s job is to bring focused financial and risk expertise to help you gain traction on your financial goals. We work with you to create a long term vision then put in place a plan to get there. A typical property manager is generally more in tune with the day to day, reactive, and not usually a financial expert. In fact, this is where our name came from: we want to help you to RISE out of the daily muck and see the long term vision. We still fulfill all the standard functions your property manager does but we add the CFO role into this to provide long-term guidance and give you expert access all the time.
We provide financial expertise, planning, goal-setting, accountability and long term financial vision for your community. We play a role in evaluating risk and provide guidance on those important decisions. Every successful business has someone whose role is to do these things and your Association has the same needs as many private sector businesses. You most certainly need a CFO—running a condo or townhome owners association is very similar to running any other business. No business can function in the long term without a financial goal-oriented strategy, nor can it survive without an agreement among the leaders about values to the community and priorities. Establishing values and key goals is a key role and this alone can help your board meetings go from 3 hours to 1 hour while becoming 5 times more productive.
What is the proprietary CAFS Plan?
We operate using the proprietary Community Association Financial Strength Plans (CAFS Plan) which was created to be your step-by-step guide to help your association get financial traction and make real progress toward the goals we establish in the program. These marks are at 1, 5, 10, and 20-year marks.
Our goal is to use business intelligence to provide Boards with visibility on the true nature of their financial situation. Sometimes the most important numbers aren’t the most talked about. In general, financials without historical context and goals aren’t very helpful for planning and often tend to ignore financial risks such as long term deferred maintenance. This often takes the form of not knowing how much money you need in your association’s reserve account, or when you will need it, or even putting off maintenance projects because you’re concerned about the impact this will have on the cash reserve. This often leads to more severe maintenance issues later on.
The CAFS Plan is designed to provide great visibility on the numbers that matter most and show you how you’re performing compared to your financial goals so you can make the best decisions possible when you need to. We provide you with an adaptive and intelligent forecast of the coming years so you can stay on course and a very prescriptive process using data from hundreds of community associations to implement dozens of cost-saving measures to help you be more efficient in every way.
Not sure what is the right fit?
As you’ve probably noticed by now, we do things a little differently.
That’s because a long time ago our founders came the realization that what got us here won’t get us there.
The industry model of throwing 15 or 20 properties at a manager and expecting success just does not work- so we broke the model and built one that does.
Our model and approach is specific to deal with the unique demands and challenges of condominium and townhome associations.
The complex needs for your association require real expertise, consistent execution, and create problem solving.
You know the challenges already and that’s probably why you’re here. There are two characteristics of boards that make for a great fit for us:
1.) Boards who genuinely care about making the best possible decisions for the future of the community and are tired of feeling like they’re stuck in a financial cycle of deferred maintenance, special assessments, cash depletion, and more deferred maintenance, and;
2.) Boards who are ready to see a manager take initiative and provide a plan.
We are a great fit for boards who are ready to go all-in on making some serious progress. We’re not a great fit if for situations where consensus is not within reach or when a community is at war with itself. We’re a little assertive– we know, but that’s because we have a plan we believe in and we want you to believe in it too. We realize this approach might seem a little foreign or strange at first–the reason we do it this way is that we want every team member working in their area of the highest skill. We let our financial experts work with financials and our facilities experts work with facilities and we think that’s the best way.