When It Comes to HOA Management, What Should You Budget For?

Homeowners’ associations often hire a property management team to help with the day-to-day running of the community, to make sure that policies are implemented properly and to oversee the community assets. When putting together a budget for HOA management, you’ll need to take into account the services that you need and then get quotes from management companies regarding the pricing.

City Skyline Shot

Some of the most popular management services include the following:

Financial and accounting services – These services can range from simple bookkeeping to complex financial management services. These may include overseeing collection actions, balancing the monthly books, helping with yearly budgets plus much more.

Security systems – Many people will judge a homeowners’ association according to the security measures that it has in place. In fact, this is a major concern for people that are looking for a new place to call home so it’s important to provide safe living conditions for everyone in the community. A management team can help with these efforts and find the right security personnel according to your needs. It is a good idea to budget for security provisions since providing a safe place to live will be a part of your community’s reputation management.

Vendor management – Using a property management company for an HOA is extremely useful in terms of finding the right vendors for specific projects. Everything from the bottom up including landscaping to roofing can be managed by the team. You can rest assured that only top-quality, experienced, licensed and insured contractors will be used to get these jobs done without any fear of liability issues.

Day-to-day administrative duties – Since HOA members are volunteers, most don’t have a lot of time handle the seemingly endless administrative duties required. A good HOA management company will have state-of-the-art programs that keep track of everything for you. The information stored on these programs should also be accessible to the HOA executives on demand when needed.

This is just an overview the many services provided by team management companies. When working on a budget, take into account the services that you need the most and then find out how much they will cost.

Many HOAs have had to deal with emergency situations due to an overload of responsibilities falling on the shoulders of their members. When working out a budget, the question shouldn’t be “how can I afford HOA management?” but rather “How can I not afford it?” It’s really hard to imagine what happens when community properties don’t hire a professional team to do the job correctly. Having to handle work orders, projects, delinquencies, rental fees, etc. requires a full-time member that has expertise in all of these different areas.

Budgeting for a management company comes down to the services required and the funding available. The best way to start forming a budget is to make a list of the services most needed and then figuring out how the funding can be made available. Property management offers value for the money – especially when you consider all of the different things that can go wrong without the proper professionals working for you.

Businesses Mentioned:

City Property Management
4645 E Cotton Gin Loop
Phoenix, AZ 85040
(602) 437–4777
http://cityproperty.com/

How to Start an Online Store Based On Your Interests

Starting a business online can seem overwhelming at first. While it’s true that starting and running any business from scratch takes a lot of work, doing something that you love is always preferable in the working world.

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Making sure that you take an idea that you love to do is often the most decision that you’ll make. Creating capital based on your interests is a great way to make money and you’ll never regret pursuing something that interests you.

Taking a look at already successful businesses online can help you get started. Shop Angelique online to understand how they handle orders, put together designs, and make the customer keep coming back. Their motto is: compliment your curves at an affordable price. What’s your unique selling proposition?

Most small businesses require a lot of work to start up and even more to be successful, so do what you love. Check out our guide on how to start an online store based on your interests.

Explore Your Passion

At the end of the day, almost any interest can be turned into a functioning business. There are so many great passions and hobbies that people have that could be easily turned into a business! If you like fishing, you could potentially set up a shop that specializes in fly fishing or special types of gear.

If you like decorating and creating costumes, you could create a store that focuses on that. Whatever you like to do, you can turn it into something that makes you money. The possibilities are endless. Think about what you like to do and how you can start turning it into something that generates cash. If you can come up with a few interests you have and narrow it down, you may just be able to take one of them and transform it into viable revenue.

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Beware of These Common Housing Market Scams

Did You Know? Working with a reputable Arizona real estate firm can help you avoid all of these potential pitfalls. AZEF is one of our top recommendations. AZEF.org is where they have their main listings, as well as more information about themselves, including their blog.

It would be nice if we could go about our lives and not have to worry about scams. Unfortunately, there are just too many people out there that find it easier to scam someone else than earn an honest living.

If you are looking to either buy or sell a home then there are several scams that you need to be aware of. To help with that we want to provide information that allows you to be aware of several housing market scams.

Mortgages

The potential for scams in getting a home mortgage became very real over the last few years. Lenders that were working in subprime and very dangerous loans caused a downturn in the overall housing markets. In some areas, they pretty much ruined home values.

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There are several things to be leery of when looking for a home mortgage. One of these is the classic bait and switch. This is where a mortgage company will get your attention and lure you in with low interest rates. But, you find out very quickly that for one reason or another, you don’t qualify for that offer. Of course, they will offer you a much less attractive mortgage. If you find yourself in this position then you want to consult with another lender.

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How to Build an Empire with Online Software

People have looked for ways to quit their “day job” for almost as long as there have been jobs. The internet has made this dream more obtainable than any other time in history. This is illustrated by the growing number of millionaires making six figure incomes online. Some, like Pat Flynn are pulling in six figures a month. I am not going to tell you that this article will do that. But, it will show you how to build an empire with online software.

Find Software That Automates a Service

The demand for quality content is driving several new industries. One of these is offering software that allows automation or near full automation of content creation. You can find software that allows you to create eBook covers in minutes. Other tasks that software is readily available for includes; whiteboard animation, picture retouching, video editing, logo creation, and many more. Making money starts by identifying what type of service you enjoy and finding software that helps you provide it.

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Create a Portfolio

Once you have your software in hand then it is time to find customers. I am going to burst your bubble a little here. You are not going to make thousands overnight. But, I can tell you from experience that you can quickly augment and/or replace your full time income (depending on your standard of living). For example, I used this method to make over $1600 my first month.

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