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Question:What is Association Management?
Answer: Association management is a distinct field of management because of the unique environment of associations. Associations are unique in that the 'owners' are dues-paying members. Members also govern their association through an elected board or other governing body, along with association committees, commissions, task forces, councils and other units. Typically, the board selects, retains and evaluates a chief executive officer or an executive director who is responsible for the day-to-day management of the association and paid staff. Managers within the association environment are responsible for many of the same tasks that are found in other organizational contexts. These include human resource management, financial management, meeting management, IT management, and project management. Other aspects of management are unique for association managers. These include: membership recruitment and retention; tax-exempt accounting and financial management; development of non-dues revenue and fundraising. Association managers must also be familiar with laws and regulations that pertain only to associations. To attain the knowledge needed to effectively operate in association management, its practitioners may choose to pursue the Certified Association Executive designation.
Question:What is an Association Management Company and what do they do?
Answer: A property management entity contracted by a Board of Directors or community to provide a variety of services including but not limited to collecting assessments, sub-contractor endeavors, financial advisement and statement/reports preparation and analysis, general maintenance and problem resolution, and advisement on legal and other property related matters. Some of these companies manage hundreds of properties simultaneously, while others focus on individual properties.
Question:Does my community have an Association Management Company?
Answer: Yes we do. The Board of Directors of Hulen Heights HOA has employed FirstService Residential to act as our Association Management Company. FirstService Residential may be contacted by calling (877) 378-2388 or at www.fsresidential.com.
Question:What is a 'Proxy?'
Answer: An individual appointed to act or vote on behalf of another person by representing them at a meeting of the association. The title can also refer to the written piece of paper granting that power.
Question:What is a 'Quorom?'
Answer: A Quorom is defined as the minimum number of owners required to hold an official meeting of the association. The number of owners required can vary greatly according to the corresponding association's governing documents.