Cadden Community Management specializes solely in providing professional management services to Homeowners’ Associations.
The Association Manager will work directly with the Board of Directors to plan, motivate, organize, and direct their efforts so that they can effectively accomplish their objectives in a timely and professional manner while at the same time conduct compliance inspections and maintain architectural control.
Cadden Community Management handles all aspects of community finances including association dues invoicing and collection, accounts payable management and reporting, annual draft budget preparation, annual meeting preparation and attendance as well as tax filing.
Under the supervision of a Finance Director, our bookkeepers work alongside your manager to provide monthly financial statements for your association. On a monthly basis we produce a balance sheet, an income and expense statement (with a year-to-date analysis), an accounts payable and accounts receivable ledger, copies of checks paid each month, copies of bank statements, and the status of homeowners’ dues payable. Our financial software program is one of the most advanced and recognized in the industry, regularly updated, and privacy-protected.
Some of our client associations elect to contract for financial-only services only, for which we provide the same in-depth reporting, staff support and diligence. Regardless of an association’s size, our financial staff is prepared to work with all board treasurers to ensure proper financial reporting. Our Finance Director is always on hand to lend more specific support and assistance.
Cadden Community Management currently has approximately 30 managers on staff. Many associations have limited budgets that do not justify a full-time manager, or the funding to hire a manager directly. In this case, economies of scale permit Cadden Community Management to designate a manager to your association at a very competitive rate. Here, the manager may also be designated to one or more other associations. This is called “portfolio” management and is a practical management solution for many smaller and medium-sized associations with smaller and/or limited budgets.
The manager provides in-depth financial management, administrative help with property inspections, CC&R enforcement, maintain owner and resident rosters, set up and support committee systems including architectural controls and guidelines, as well as serve as liaison with the association’s legal counsel. In addition, the manager will help negotiate and supervise maintenance contracts, serve as a proactive liaison between the board and homeowners, and provide knowledgeable customer service support for homeowners.
For those associations with larger operations and the need for on-site services Cadden Community Management can help, whether the need is for a manager, office assistant or maintenance person – and whether the need is for full-time or part-time on-site management, or any combination of staffing or hours for that matter. In these cases, we oversee all aspects of the association’s financial health and daily operations, on-site activity, and staff’s scheduled work hours. The manager handles the human resource (HR) issues for the board including hiring, payroll, insurance administration, payroll tax filing, and compliance with labor laws.
The on-site manager provides a huge benefit to the association by being able to interact with residents on a regular, face-to-face basis. An experienced senior manager, supervises each on-site manager, providing full support, management advice and expertise, and even accompanies the manager to board meetings and/or board consultations as needed. The company finance director and bookkeeper also provide the same full support to board members and on-site staff. There are many workable combinations and options commensurate with the many different types and sizes of associations.
Cadden Community Management has worked extensively with developers at a variety of associations, both large and small, assisting in many successful turnover transitions from developer to homeowner. Additionally, Cadden Management routinely helps with pre-development issues including document planning and review, budget drafting and review as well as reserve study negotiation.
Training for New Board Members
Many elected members of a community association board of directors find the role very unique and different than similar tasks or organizations they have experienced. Cadden Community Management recognizes this, and fully embraces the policy of education and training for board members. Providing free educational sessions for the board is an important feature of our service. We cover association operation in general, such as conducting board meetings, posting notices, handling enforcement issues, purchasing insurance, etc. The session can be held for your board at either Cadden Community Management’s office, or at your selected location, and it is customized to fit your association.
Note that no legal advice or counseling is part of this session.
Also each spring, Cadden Community Management hosts an annual complimentary training seminar for all new board members, featuring various association topics presented by one of our Senior Managers and industry professionals such as attorneys and insurance executives. It is always well attended by board members throughout our service area. Although the seminar is designed for new board members, many clients return year after year for updated information and inspiration.