Signature Properties is a full-service Management Company specializing in Residential, Commercial, and Association Management. We offer full-service management options as well as accounting-only packages. We take pride in assisting all of our associations and homeowners with their management needs. We look forward to working with you!
What does a Management Company Do?
What are the benefits of working with a professional management company?
What is the Community Manager?
Benefits of Using Signature Properties?
What We Do as Your Association Manager
To become a value-based leader, driven to provide innovative Association Management solutions.
Why Use Signature Properties For Your Community Management Needs?
We are committed to enhancing the value of all properties under our management!
We are strongly committed to enhancing the value of all properties under our management in accordance with the association’s values and industry standards. We adhere to our motto: “Courteous, Prompt, Professional Service”, with a dedication to excellence, integrity and trust. We have a strong desire to improve the quality of living of those who have placed the trust of their community in our hands!
We strive to reduce expenses and minimize collection issues!
Signature Properties has developed a unique approach to effective and profitable community management. Our motto is Courteous, Prompt, Professional Service which includes excellent communication with all homeowners to minimize collection issues. We are always implementing the latest technology and are paperless to save the association the costs associated with printing.
Communication is paramount at Signature Properties.
We ensure access to all of our professional resources to the homeowners by providing excellent communication. Our managers provide maximum value by interacting with association board members and homeowners to facilitate prompt attention to maintenance issues, controlling expenses, and collecting association fees.
Dedication to providing exceptional association management.
Signature Properties is dedicated to excellence, integrity, and trust thereby adding to the overall enjoyment of living the lifestyle you desire and pride in your community!
FREQUENTLY ASKED QUESTIONS
Self-management is a comprehensive job to take on as a volunteer. It can become a full-time job and can take away from the enjoyment of simply living in your community. A manager relieves some of those duties by managing day-to-day affairs.
For individual members to provide mandated services free of charge, it places unequal burdens on themselves and other homeowners. No one wants to have to tell their neighbor that they need to mow their yard, move a car or repair the blinds!
Additionally, dealing with items such as insurance, contractors, maintenance, enforcement and legal issues will cost an inexperienced volunteer an extensive amount of time and labor. Our job is to provide these services and we are professionally trained on how to handle them.
Of course, professionally managed communities retain their growth in attractiveness to potential buyers, which results in higher property values. Who doesn’t want that?
Association management is hard work! It involves many facets such as financial management, physical property management, and administrative management, among other tasks. Professional community managers have processes in place to make management more efficient and reliable.
Board members can change from year to year and having a manager will ensure that the new board starts off where the old board left off. It will also ensure that the new board is trained to handle their responsibilities. We work with the Board to put together Policies and Procedures for each of our neighborhoods to make sure that things remain consistent when Board Members change.
As you can see, the benefits of using a community manager to help with association management are endless. These are only some of the reasons why community management is more efficient than self-management. We would like to meet with you to discuss managing your community and what we can offer your association!
- Association Financial Management
- Collection Services
- Board Training
- Tax Preparation
- Property Management
- Administrative Management
Signature Properties offers full-service community management including but not limited to financial management, property management, and administrative management.
We utilize the latest accounting software designed exclusively for associations. We prepare and maintain the books and records necessary to produce financial statements.
We work with the board of directors to assist in the development and preparation of the annual association operating budget.
We receive, review and approve vendor invoices and all other association bills and prepare checks for payment.
We collect all assessments as they become due and deposit all cash receipts into the association bank account maintained at an FDIC-insured banking institution.
We offer payment coupons for associations whose dues are monthly and we have a direct debit option eliminating the need to write a check each month and pay for postage.
We will maintain a record of homeowner accounts and will discuss monthly delinquencies with the board members and send out monthly late notices.
We will assist with legal counsel as necessary to initiate required legal action consistent with the association’s by-laws.
We will work with contractors in a competitive bidding process for non-emergency services and will offer our input when selecting a contractor while remaining “vendor-neutral” which enables competitive rates. We ensure that all of our contractors have relevant certificates of insurance.
We will perform regular site inspections in order to maintain a satisfactory knowledge of the condition of the association and the performance of the contractors. We will look for violations of the covenants, obvious repair issues, maintenance needs, and overall condition.
We will respond quickly to any emergency situation 24 hours a day 7 days a week. We promptly respond to non-emergency-related issues during normal business hours Monday – Friday between 9-5 pm.
We will receive and investigate significant complaints regarding rule violations.
We assist and advise the board in correspondence between residents, owners, contractors, etc.
We keep a record of all client correspondence received or issued.
These are just some of the services that Signature Properties management can offer your association. Please watch our community management video and do not hesitate to contact us for more information.
Typically closing requests have a turnaround time of 5 business days excluding weekends and holidays but we offer rush options if needed.
A homeowner’s association is a not-for-profit corporation registered with the State and managed by a duly elected Board of Directors. Its purpose is to maintain all common areas and to govern the community in accordance with the provision of the legal documents: CC&Rs, Bylaws, and Articles of Incorporation.
HOAs can consist of single-family homes, condominiums, or townhomes and are typically set up by the original developer of the community with a set of rules called the Declaration of Covenants, Conditions, and Restrictions otherwise known as CC&Rs.
One of the primary functions of the HOA is to enforce and ensure that these “CC&Rs” are adhered to by all homeowners. The guiding principles of these regulations are normally to help maintain property values and the quality of life within the community.
Membership is normally mandatory for all property owners.
Mandatory dues are normal and periodic special assessments are not uncommon.
Monthly fees can vary and are established by the Board of Directors and approved by the Homeowners.
There is usually an elected Board of Directors who consist of volunteer homeowners.
Many HOAs hire a property management company typically chosen by the Board of Directors to do things like maintenance, bookkeeping, and dues collection.
Associations collect dues from homeowners and maintain financial statements. They enforce the deed restrictions or CC&Rs for things like exterior home improvements, general exterior condition of property such as paint, how properties can be used, and even noise control.
Associations typically provide for at least some of the following services: Maintain landscaping in the common areas, provide snow removal, maintain recreation facilities such as clubhouses and pools, maintain adequate liability and Workers’ Compensation insurance. Associations organize and hold meetings of the Board and provide for an annual meeting of the members of the Association.
It is the land owned by the Association for the use and enjoyment of the members of the community. Common elements include facilities like pools and playgrounds, exercise facilities, walking trails, and pavilions.
The Governing Documents for your association are the Articles of Incorporation, Bylaws, Declaration of Covenants, Conditions, and Restrictions plus any Rules and Regulations, Resolutions, or guidelines that have been established by your association.
Articles of Incorporation provide the legal basis for operating within Virginia’s Corporation Codes.
The Covenants, Conditions, and Restrictions (CC&Rs) are the governing legal documents that set up the guidelines for the operation of the planned community as a non-profit corporation. The CC&Rs were recorded by the County recorder’s office of the county in which the property is located and are included in the title to your property. Failure on the part of a homeowner to abide by the CC&Rs may result in a fine to the homeowner by the Association.
The Bylaws are the guidelines for the operation of the non-profit corporation. The Bylaws define the duties of the various offices of the Board of Directors, the terms of the Directors, the membership’s voting rights, required meetings and notices of meetings, and the principal office of the Association, as well as other specific items that are necessary to run the Association as a business.
Typically, yes. Most associations have additional rules that are usually intended to maintain the aesthetic value and integrity of the community on behalf of all owners and help protect the value of the property. Other rules may include the types of changes you may make to the exterior of your home.
Board of Directors
In relation to a community association or HOA, a Director is charged with the conduct and management of its affairs. The Directors collectively are referred to as the Board of Directors and are typically elected or appointed. The Board will usually vote some of its members to be the Chair or President and others as the Vice President, Secretary and Treasurer.
The authorities of the Directors are outlined in the Association governing documents found within the CC&R tab under “Bylaws”.
The Board of Directors is responsible for maintaining the assets of the community, ensuring the financial health of the association, determining the level of services, and establishing policies and/or rules and regulations governing the use of the common areas. The Board has a fiduciary responsibility to do what is in the best interest of the association and to provide leadership in community affairs as dictated by the Governing Documents. This includes a timely collection of assessments as well as payments made for services provided to the Association. In general, the Board Members are the decision-makers for the Association. The Board of Directors is made up of individual homeowners who own property within the Association and who are elected to that position by the members of the Association. All affairs of a Homeowners Association are governed by the Board of Directors
The best way to contact the Board is through your community’s Association Manager. He or she can include your questions and concerns with those of other residents and present them to your Association’s Board of Directors for discussion and direction. The ability of your community’s Association Manager to group information together on a common subject allows the Board of Directors to be better informed and make better decisions. If your association has a website, current members of your Board of Directors will be posted there.
Your Board of Directors makes decisions for your Association. However, they volunteer for these positions and receive no compensation for the jobs that they perform. Your Management Company represents the Board and your Association, which entails being a contact for all communications addressed to the Board. Also, legally we are not allowed to give out personal information of any homeowner including your Board of Directors.
Generally, any member of an Association who is in good standing (no delinquent dues, no outstanding violations) may run for the Board of Directors. Most Associations send out candidate solicitations several months prior to the annual election. Simply fill out the form and return it to the management office.
The Organizational hierarchy of an association consists of:
- Board of Directors which establishes policies and procedures.
- Management Company under the direction of the Board to execute policies and procedures as established by the Board of Directors.
- Committee research and make recommendations to the Board of Directors who then makes the final decision, i.e. Newsletter Committee, Architectural Committee, Rules Committee, and Grounds Committee.
- Sub-Contractors are professionals hired to perform services for the association. The Management Company oversees the sub-contractors.
The rights reserved by owners are described in the governing documents and are generally limited to electing/removing members of the Board of Directors; to call special meetings of the membership and voting to amend the CC&Rs and bylaws. Owners also maintain the right to be heard by the Board on such issues as alleged violations of the documents or architectural approval issues.
Professional Management Services
The management company works with the Association and reports to the Board of Directors. The management company typically attends to the day-to-day operation of the Association and implements the policies and decisions as determined by the Board of Directors. Typical services offered by the management company include the collection of assessments, supervision of subcontractors, obtaining estimates for contracted services, and providing financial statements/information and income and expense reports. The management company serves as the liaison between the volunteer Board and homeowners. It usually acts in an advisory capacity to the Board of Directors and acts only at the direction of the Board.
A professional management company, such as Signature Properties provides knowledge of the operations of the Associations, the governing statutes, continuity in operations, accurate accounting, expertise in condominium and homeowner association management, and provides better negotiating power with vendors, contractors, and insurance companies.
A Manager 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. This person is assigned by Signature Properties.
- No. Signature Properties will be retained as the association’s ‘Agent’. As the association’s Agent, we are like a partner to them allowing Boards to utilize our knowledge, training, and expertise in the industry. Many Board members serve with little to no knowledge of the operation of both a not-for-profit corporation or a homeowners’ condominium association. Signature’s role is to assist those members as the Agent in the proper operations of the association and its function as a not-for-profit corporation.
The assessment is the periodic amount due from each homeowner to cover the operating expenses of the common area and to provide for reserve funds for the repair and/or replacement of common facilities in future years. Assessment amounts are published in the Association Budget, which is typically available through the Association manager. The assessments you pay to your Association cover the current operating expenses and anticipated future financial obligations of your Association. That may include, but may not be limited to landscaping maintenance, utilities, insurance, insurance, facility maintenance, meeting room reservations, legal fees, accounting fees, bank charges, management fees, roof replacement, painting, asphalt sealing, parking area striping, etc.
There is no simple yes or no answer to this question. In order to cover increased costs of operating and maintaining the common area and sufficient reserve funds, the Board of Directors may approve increases in budget that could increase your assessment up to the percentage allowed by the Civil Code
Typically, the CC&Rs state that not paying the monthly assessment causes the owner to be subject to a lien notice when he’s 60 days past due and allows for interest and possibly late charges to be assessed. If there is no response from the owner to notification of his delinquency, the account is usually sent to an attorney for collection. It is important to note that the maintenance and management services incurred by the Association are dependent upon timely receipt of the assessments due from each homeowner.
Your regular dues payments cover a number of items that may not be obvious including items such as insurance premiums, utility bills, bank fees, postage, copies, audits, legal fees, long-term maintenance, and capital improvements, and management fees. If there is something you wish to receive clarification on or if you observe something that is in need of attention, please contact your community’s Association Manager with the details.
Your community is a deed-restricted community that has a set of Master Declarations of Covenants, Conditions, and Restrictions. When you bought a home in that community you became obligated to abide by the restrictions outlined in the CC&R’s. Architectural control restrictions are designed to maintain the aesthetic harmony of the community and to protect property values. When a community was first constructed, it likely conveyed a certain look and feel to provide design consistency. Over time, residents would like to make modifications to their homes – whether necessary or not – such as replacing windows or garage doors or other changes. Without an architectural standard and approval, these gradual changes can easily affect the appearance of the community. By obtaining approval before any improvement is made you can be assured that the community standards are maintained for everyone. This avoids the problems that arise from the construction of improvements and the use of colors or styles that conflict with your governing documents.
Architectural change policies vary from one association to another but in general, any exterior modifications require advance review and approval by the Board before project work can begin. All request forms must be submitted and approved in writing before beginning any such project. Most associations make these forms available through the Association website. In most cases, the Board may take up to 45 days to respond to a request, although most requests are processed more quickly than that.
No. Unless the problem is causing a common area problem or a direct violation, homeowner disputes should be settled between the parties involved. Your Board is not in place to serve as a mediator between neighbors. In any community, whether governed by an Association or not, homeowners experience personality conflicts, pet problems, and other neighborhood issues.
Homeowners may report suspected violations of the governing documents to the Board of Directors through the Association Manager. All reports must be verified before the Board can act to address the issue and communication between the Board and individual homeowners is considered private information. Homeowners making reports are typically not kept apprised of these communications to protect the privacy of all involved.
A resale package is a packet of vital information provided to those purchasing a condominium or a home in an association. The package includes a complete set of recorded documents that govern your association. Typically, the documents included are Annual Financials, Articles of Incorporation, Budget, Bylaws, CC&Rs, Insurance Declaration Page, Regular Meeting Minutes, Resale Certificate/Demand, Reserve Report, Rules, and Regulations.
When you are selling your home, a Disclosure/Resale Packet must be provided to your prospective purchase for their review. This allows them to review the financial condition of the community and to read the governing documents before they choose to finalize the purchase. If you have any questions about ordering a packet, contact your Community Manager or you may contact Signature Properties directly for assistance.
Who is Who For Your Association
- Advise and provide administrative, managerial, and operational counsel to the association governing body
- Exhibit professionalism and loyalty to the principal (the Board)
- Exercise diligence in performing duties on the principal’s behalf
- Account for financial activities covered by the Management Agreement
- Perform onsite property inspections
- Solicit and evaluate bids for association services
- Supervise maintenance activities and contractor performance
- Oversee and authorize payment for primary association services
- Know and abide Bylaws, recognizing the State agency that supervises the community associations
Depending on the management agreement, some of the following responsibilities can be turned over to a managing company
- Chief executive officer and leader of the association
- Presides at all meetings of the board and membership
- Executes legal documents on behalf of the association
- Sets meeting agendas and control all meetings
- Represents the board before the residents
- May have nominated, if not appointment, responsibility for all committees
- Performs all of the duties of the president in his/her absence
- Typically shares some of the burdens of the president regarding appearances, liaison, public hearings, etc.
- Usually assigned liaison responsibility to specific staff or contractors, and to specific committees
- Prepares and distributes Board and membership meeting agendas, minutes, and materials referred to in minutes
- Maintains minutes and books on all meetings
- Maintains book of resolutions
- Maintains all official records, including official correspondence, contracts, membership roster, etc.
- Receives, verifies and maintains all proxies
- Attests, by signature, to the legitimacy of certain documents
- Works with appropriate staff, contractors, and committees to develop and submit an annual operating budget for approval
- Maintains adequate records of all association financial transactions
- Maintains roster of disbursement of funds, as authorized
- Prepares period financial reports
- Arranges, subject to board approval, an independent audit of financial affairs
Perspectives of Board, Homeowner, and Manager
- Maintaining the value of the property and good quality of life for the residential community
- Governing smoothly
- Enforces rules
- Establishing and keeping budget
- Most care a great deal about residences
- Will want service from manager and decisions from Board that will provide a good quality of life
- Problems may arise when expectations are too high or not realistic; this can occur when interests are too specialized or unique
- Working in balance with homeowners, board, and realities of management companies business(possible friction)
- Multi-task oriented
All documents that regulate the community life
Documents may vary depending on the type of Association (condo, townhome, etc.)
- State law
- Declaration of Covenants or Master Deed
- Conditions and Restrictions
- Rules and Regulations
- Plats of Survey and Easement Agreements (may be separate, often included in the declaration)