What is Association Management?
Association management is a distinct field of management because of the unique environment of associations. Associations are unique in the sense 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.
What is an Association Management Company and what do they do?
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.
Does my community have an Association Management Company, and if so, how do I contact them?
If your community is not self managed, the Association Management’s contact information can be located on the website, and most Association Management companies have contact information listed on their company websites or in the phone book. Generally, a management company can be contacted online or by telephone by community or Board members, or individuals whose communities are seeking a management company for representation.
What is a 'Managing Agent'?
A Managing Agent is a person or entity hired specifically to assist the board of directors in enforcing the documents and managing the assets, funds, and interests of the association.