In today’s competitive real estate market, the challenge for developers goes beyond constructing homes that are merely structurally robust. It’s about creating communities where every aspect, from ambiance to administration, amplifies a potential sale.
Developer’s Secret Weapon to Building Irresistible Communities
This is where RISE shines as a developer’s invaluable partner. With RISE on their side, developers possess a winning edge: homes that aren’t just designed for living, but also crafted to sell swiftly. Here’s how:
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 $16 per unit per month for our standard management services. A facilities management program will be quoted separately for on-site maintenance. See our Facilities Management Program for details. 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.
The primary difference between a CFO and a typical property manager is the CFO’s job is to break you out of this financial cycle where it feels like you can’t make any progress. 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 than the long term strategy and spends most of his or her time reacting to the problems of today (or yesterday) rather than anticipating the problems of tomorrow. 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.
The CFO role provides financial planning, goal-setting (and holding others accountable for those goals), and providing a long term financial vision for your community. CFOs often play a role in evaluating risk and creating accountability structures. Every successful business has someone whose role is to do these things and your Association has the same needs as many private sector businesses. In this system, we take the role of CFO and take charge of driving this program forward and creating a system of accountability. You most certainly need a CFO—the only question is how often and for how long. 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 for a part-time CFO and this alone can help your board meetings go from 3 hours to 1 hour and feel 5 times more productive.
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.
As you’ve probably noticed by now, we do things a little differently. Actually, way differently. That’s because condo and townhome associations are different and that old model that everyone uses just doesn’t seem to work very well. So we scrapped it and we came up with a new model specifically to deal with the unique demands and challenges of condominium and townhome associations.
You know the challenges already and that’s probably why you’re here (unless you’re one of our competitors, if you are then SCRAM! (alternative: If you are then please press ALT + F4 to take a screenshot) This is all super top secret!). 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 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.