Now that the New Year is upon us, this blog takes a look at the first few months of 2016 for CAP Management. Lots of big changes are on the horizon or being implemented starting January 1st.
CAP Management is ready to implement some big changes to make things easier for our homeowners and improve operations overall. The most obvious change homeowners in our HOAs will notice is the replacement of coupon books with monthly statements sent in the mail. The statements are regular reminders to busy property owners that their assessments are due, and also show what those charges and their current balances are. Similar to credit card and utility bills, homeowners may enjoy being able to review their account activity without having to make any phone calls as well as keep these statements for recordkeeping purposes, which is always a good idea when it comes to finances.
The statements have a paper-saving quality to them. In the same envelope, on the reverse side of the paper, HOAs can offer their monthly or quarterly newsletters. Local (or resident-owned) businesses can inquire about using the space for advertising. The reverse side can also be used to provide a summary of the HOA’s collection policy. While the change from the old practice of sending ‘coupons’ once per year might be surprising to some, we hope that the new monthly statement will prove to be highly valuable to homeowners. The new statements have begun arriving in the mailboxes of most of our HOAs as of January 1st. Some homeowners will begin seeing them a little farther down the road if their HOA’s fiscal year currently leaves them with some pages left in their coupon books.
To further our goal of making things easier for our homeowners, we have decided to change our management software over to a new system that can better handle the needs of a growing company. We described this a bit in our previous blog titled “2015 Year in Review” (take a look!). TOPS simply can no longer do the job we need it to do…so in response: welcome Cinc!
The new software will allow homeowners immediate, 24/7 access to their accounts via online access. With TOPS, homeowners would need to call CAP Management with account inquiries. On the management side, Cinc streamlines many functions, is easier to work with, is more responsive, and is more accessible (i.e. on the go!). We are just beginning to transition; and there will be an overlap period between the two programs for a smooth changeover free of errors.
To ensure that communication is at its best, we have decided to have three types of staff meetings: the “back office” (accounting, support), the property managers, and a general meeting for the entire staff. The general meetings will occur every other week, in an alternating fashion.