Why Should You Use a Professional Property Manager?

There is lots of work that goes into running an effective HOA, and much of it is done by volunteers. It can be a lot for volunteers to deal with, so hiring a professional management company can really be a positive asset. The role of property management companies in HOAs is to provide necessary support and help ensure the community is well-managed and enjoyed by all.

Some HOAs choose to self-manage, but many have turned to property management companies upon realizing how much they can benefit from this partnership. It can be well worth the investment if you do your research and find a reputable company that can meet your needs. 

Here are just a few benefits of working with a professional property manager:

Knowledge. Many boards lack experience when it comes to finance and record keeping. Professional managers have a wealth of knowledge regarding HOA management and all of the requirements that go along with it. They can connect the HOA with training and guidance to improve their knowledge and skills, while also handling many administrative tasks.

Added Resources. Property management companies work with a variety of clients with different needs. They have built connections in the community and can recommend contractors for landscaping, pest control, construction, repairs and more. This can save the HOA time and allow the board to contact several reputable companies for bids instead of having to search through dozens of listings on its own.

Clarity and Consistency. HOAs run more smoothly when rules and regulations are clear, concise, and consistently enforced. A property manager can review documents to ensure they align with the law and help to correct any inconsistencies, confusion, or potential violations. Homeowners can have peace of mind knowing that rules will be enforced fairly across the community and problems will be addressed in a timely manner.

Support. Property managers can take on many of the day-to-day responsibilities of running an HOA and free up board members to focus on more important issues. This can  allow decisions to made more quickly and efficiently since more time can be devoted to planning and discussion.

Guidance. Board members are volunteers, and many do not have previous experience running an HOA. Even if they have sat on the board for a few years, there are always new issues that arise that they may not be sure how to handle. A property manager can provide guidance on resolving problems, making clearly defined rules and regulations, and executing decisions and projects.

If your HOA could use additional support and guidance to help boost its operations, communications, and relationships with homeowners, contact Premier Property Management Services, LLC today. Discover the benefits of a strong partnership with a high-quality, professional property management company.

How boards can avoid costly (and embarrassing!) mistakes

Obviously, we are all human and we all make mistakes. These mistakes come in all forms, from legal to management to human relations and can be minor or can cost Associations thousands of dollars. Since it’s best to avoid errors all together, we’ve compiled a list of the Top 10 Mistakes Boards Make.

1. Abuse of Power.

In some cases, owners join the Board for the wrong reasons, including pursuing their own agendas. They end up bullying some neighbors and doing favors for others. It’s important for Board members to be able to stand up to a rogue member, and better still, learn a little more about why members wish to join the Board before electing them.

2. Unclear Roles.

Often times Board members try to take on the role of property managers. Eventually they try to cut out management all together, and this can lead to problems in communication between management and contractors/maintenance staff. Other roles Board members often try to assume are the “Nice Guy” that gives out special permission for things he has no authority over and the “Policeman” that takes it upon himself to personally enforce the Rules & Regulations. 

3. Ignoring the community rules and procedures.

Boards are governed by their declarations, rules and regulations, in-place procedures and even cities and states. Boards should pay close attention to these rules when making decisions, and should also keep them updated. Problems can arise when rules and procedures are decided verbally in Board meetings, but not translated into written documents. 

4. Not listening to owners.

It is the Board’s responsibility to make sure that they make decisions that work for the majority of the community, and not just the person with the loudest voice. 

5. Not looking toward the future.

Boards need to consider many factors when embarking on projects or doing general maintenance. While the cheapest solution could work in the short term, it may end up costing more in the long run. In these situations, advice from property managers in invaluable.

6. Violation of meeting laws.

Boards must typically conduct business and vote “in the open.”  Voting by email and having no minutes to back up decisions can open Boards up to legal problems.

7. Ignoring your experts.

Boards work with many experts including managers, attorneys, lawyers and accountants. Consequences of ignoring their advice can be disastrous and expensive.

8. Misuse of electronic communication.

While email may be a good way to communicate basic information, it’s not a substitution for real discussion/debate, and information posted on social media sites can also get Boards into trouble.

9. Not doing your research.

Reading the Board packets, checking the minutes and inspecting financial reports are all important duties of Board members, and should not be ignored.

10. Overdoing things.

Board meetings don’t need to last for hours, with each member and owners going off into their own personal issues that are more suited to submitting work orders with management. In some cases, a timer has been shown to be an effective tool to keep speakers with business for the Board sort and to the point!

Help Us Welcome Our Newest Team Member!

Premier is pleased to welcome Kristie Bonilla to our team! Kristie has been working in Property Management for the past 17 years, specializing in Sate and Federal Housing Programs.She is a graduate of Asnuntuck Community College and is currently pursuing a bachelors degree in Business from UCONN. She is fluent in Spanish. Kristie is ready to help you find a great apartment, give her a call today at (877) 208-4570.

Preparing Your Building for Cold Weather

As the last few years have shown, winter can be an unpredictable time here in New England. Some years, temperatures have remained fairly mild with barely any snowfall, while other years are freezing cold, with harsh winds and major blizzards. Regardless of what the weather decides to do, condo boards, managers and maintenance staff should make sure their buildings are ready — and that means taking care of seasonal winterizing tasks before the harsh weather hits.

Start Early
No doubt that winter is the hardest season of the year in terms of wear-and-tear on buildings. Ice collects in cracks and spaces between bricks and masonry and contributes to façade deterioration; salt stains and eats away at metal and concrete; colder temperatures mean higher heating and electrical bills.  

Windows
When it comes to water and cold penetration, windows are a definite weak point. Window frames and sashes should be inspected and repaired before winter arrives — preferably in the early fall. Caulking and sealant should also be checked, as it can become brittle with time. Cold and wet weather is less than ideal for working with these materials.
 
Also, the steel lintel—the piece of metal over every window head that supports the brick above the window—must be inspected. If allowed to rust, the lintels will eventually buckle and fail, causing the bricks above them to become loose and allowing water penetration and even more damage. Lintel inspections should be done with plenty of time before winter, because repairing them is a major task.  
 
Walkways
Cement can't be poured in the winter because of the cold temperatures, so paving pros recommend getting repairs done by October’s end to beat the freezing temperatures. 
Check for broken areas and cracks that could become tripping hazards when hidden by a dusting of snow.
 
Keep the Heat In
With energy prices high and many buildings watching their funds more closely than ever, conservation has become a serious concern for boards and residents as well. There are a number of measures that a building staff and individual owners can take to ensure that heat is staying inside the building. First, search for areas where heat can escape – windows and outside doors are big culprits. Check the gap between the bottom of the door and the saddle, as well as the gap around the door  frame. For a reasonable amount of money, you can weather-strip the door, not only to save money, but to improve the comfort level inside the units. 

Also, check the basement to make sure no air or heat is escaping. If your building has a boiler system, that should be cleaned and checked yearly as well.
 
During the heating season, building personnel should closely monitor fuel consumption relative to past consumption on similar-temperature days and address any large increases right away.   

Keep the Rain Out
A building's roof is another crucial component in its ability to resist the cold. Flat roofs should be prepared with an ultraviolet roof coating, preferably before October. The coating is a relatively inexpensive petroleum-based product that is painted onto the roof. It contains reflective silver additives and creates a barrier that will insulate your building and protect it against ice and snow. 

Additionally, roof drains should be cleared to prevent blockages that could cause icy build-up ... and possibly leaks.   
 
Pitching In
Residents can help prepare for winter by lowering thermostats just a few degrees (and perhaps installing thermostats with a timer feature), and alerting the super or manager of anything that needs to be repaired.  

Don’t wait until the cold weather actually arrives to start thinking about winterizing your building!

The NEW American Dream

It used to be that everyone young person's dream was to get married and buy a "starter" home. They hoped to build equity in the home then, years later, sell if for a large profit. Then our country experienced the financial crisis of 2008, when the U.S. housing market suffered widespread losses. While we still have a desire to have our own space with the freedom to remodel it as we wish, the effects of the housing crisis may have prompted a more cautious approach by buyers who are more realistic about the level of equity they can build in their homes. Homeowners and prospective homeowners are now looking more closely at the costs and benefits of such a large transaction. While a home is still a good investment, many financial experts still caution against purchasing a home for the sole purpose of making lots of money.


 
For many Americans with active lifestyles, renting is a great way to free up time that would normally be spent maintaining a house and yard. Renting also provides the freedom of being able to pick up and move without the burden of having to sell a house.

Here are a few more benefits of renting:

• Flexibility. Renting allows you to explore an area before making the longer-term commitment to homeownership. From schools to shopping to neighbors, each neighborhood had benefits and drawbacks that may not be obvious during the relatively quick home buying process.
• Career uncertainty. If you think you might need to move in the near future, or are considering job changes that may require relocation, you might want to rent.
  
• Income uncertainty. If you expect a pay increase or decrease in the near future, that can change your borrowing ability as well as impact your ability to make mortgage payments.
  
• Poor credit. Creating a history of on-time rental payments can help you build the type of credit you'll need to qualify for a home loan.
  
• No maintenance expenses. When problems arise, you simple call the landlord.
  
• Utilities. In some instances, the landlord may pay for many utilities such as water, sewer, trash removal, maybe even heat and hot water.

Whether renting or buying is more cost effective depends on your market, where you choose to live and whether you like to do home improvement and maintenance projects yourself. Should you decide that renting is for you, give Premier Property Management Services a call at (877) 208-4570 and let us help you find the perfect apartment!

Tips for Preparing Your Condo to Sell

In today’s buyers market, it is more important than ever to make your condo unit more attractive to potential buyers – it’s very important to present it at its best!

Here are a few no and low cost things you can do to make your condo more appealing to potential buyers. Some are DIY projects and others require the help of a professional. Either way, these upgrades can help you get top dollar for your condo unit.
 
De-clutter and De-personalize: This is probably the easiest, most effective change you can make. When it comes to showing your condo, less is more. Put away gadgets, small appliances, knickknacks, personal photographs and religious items. Keep in mind that you want the buyer to remember the condo unit, not your “stuff”!
 
Clean It Up: Dust, vacuum, clean the glass, wash the floors and counter-tops. People cannot envision themselves living in a dirty home.
 
Upgrade Hardware: Changing the cabinet hardware is a simple and cost effective way to give a new, modern look to an old cupboard door.
 
Upgrade Light Fixtures: Replace old, outdated light fixtures and switch/outlet cover plates. Make sure there are no burned out bulbs.
 
Paint: Freshen the interior of your condo unit with a new coat of paint. Use neutral colors (white, gray, beige) to make the space appear larger than it is and allow the buyer to envision their own furniture in the space.
 
Upgrade Flooring: Replace worn or stained carpet with a neutral berber style. Cracked linoleum can be replaced with vinyl tiles or laminate.
 
Kitchens: If it’s not in your budget to renovate the whole kitchen, consider replacing old appliances with stainless steel. Stainless steel appliances are sleek and will give your home that modern touch. Cabinet refacing or even painting can also bring new life into an old kitchen. A new laminate counter-top is also an inexpensive way to freshen up the kitchen.

Baths: Update the vanity cabinet and replace old fixtures. Make sure mirrors and glass doors are spotless. Clean grout and or ever consider painting outdated colored grout with a more modern, neutral color.

Your potential buyers only get a few minutes in your home, make them count!

Your New Home is Waiting for You!

At Premier Property Management, we offer more than more than management services. We can also help get you into a fabulous new apartment!

Why risk losing your money to an online scam when you can trust our professionals to help you find the apartment of your dreams at the price you can live with?

Here are some of the properties we currently have available:

Hartford

404 Hillside Avenue – 2 Bedroom (3^rd Floor): Living Room, Dining Room, Kitchen, Bath. New paint, new floors/carpet. Washing machine hook-up, no dryer. Street parking only. Tenant pays utilities (Gas & Electric) $800 per month.

East Hartford

133 Prospect Street – 1 Bedroom (2^nd Floor): Living Room, Kitchen, Bath. New paint, Washing machine and dryer in basement. Off Street parking. Heat & hot water included. $800 per month.

133 Prospect Street – 2 Bedroom (2^nd Floor): Living Room, Kitchen, Bath. New paint, Washing machine and dryer in basement. Off Street parking. Heat & hot water included. $900 per month.

New Britain

84 Belden Street – 3 Bedroom (3^rd Floor): Living Room, Kitchen, Bath. New paint, new floors/carpet. No washing machine hook-up, no dryer. Off street parking. Tenant pays utilities (Gas & Electric) $900 per month.

Bristol

403 West Street – 2 Bedroom (1^st Floor): Living Room, Dining Room, Kitchen, Bath. New paint. No washing machine hook-up, no dryer. Off street parking. Tenant pays utilities (Oil & Electric) $800 per month.

403 West Street – 2 Bedroom (2^nd Floor): Living Room, Kitchen, Bath. New paint. No washing machine hook-up, no dryer. Off street parking. Tenant pays utilities (Electric Heat) $700 per month.

403 West Street – 1 Bedroom (2^nd Floor): Living Room, Kitchen, Bath. New paint, New Carpet. No washing machine hook-up, no dryer. Off street parking. Tenant pays utilities (Electric Heat) $500 per month.

Give us a call at (877)  741-3317 or visit us online to learn more about leasing with us!