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A Homeowner’s Guide to Managing Rentals in Breckenridge

It’s no secret that Breckenridge, CO, is one of the nation’s top destinations for skiers and vacationers. As a result, it has also become a desirable location for real estate investors.

When you own property in Breckenridge, there are two benefits. First, you can rest assured you always have a place to stay when you visit here. Second, you can rent your vacation home out when you’re away, creating the opportunity for passive income.

If you’re interested in taking this next step, learning as much as possible about managing rentals in Breckenridge is important. Today, we’re sharing some of the most important parts of this process to help you get started.

Understand the Rules

Before renting out your Breckenridge property, there are a few administrative aspects to consider.

In February 2023, Summit County legislators released new laws and regulations affecting Breckenridge’s short-term rental market. These guidelines put parameters around the market with protocols that affect the following:

  • Short-term rental license caps
  • Booking limits
  • Neighborhood-specific occupancy limits

Designed primarily for remote property owners, the updates include protections for full-time Summit County residents.

One of the most important terms involves requisite licensure. If you want to rent your Breckenridge house for fewer than 30 days, you’ll need a short-term rental license. If your application isn’t approved and/or you don’t pay regulatory fees and taxes, you will need to opt for a long-term rental model.

Invest in Home Security

Once you have the required licensure, it’s time to consider how you’ll secure your vacation home.

Home security is a vacation rental must for the safety of your guests and your property. This becomes especially important when your property is vacant between rentals.

Some options to consider include exterior motion detectors, cameras, and burglar alarms. Today, you can purchase home security systems that stay connected to your phone even when you’re hundreds of miles away. You’ll receive immediate alerts if there’s any suspicious activity, allowing you to call the authorities immediately.

In addition to exterior components, you may also consider securing the interior of your property. If you decide to install security cameras inside your home, make sure your guests are aware of their presence. In addition, the cameras should be turned off when the home is occupied to ensure their privacy.

Keep Local Contractors On Call

Maintenance and upkeep are crucial to keep your vacation rental booked. Breckenridge offers visitors plenty of places to stay, and the quality of your property will go a long way toward keeping it competitive.

In addition to scheduling preventative and regular maintenance, you’ll also need to know who to call if a guest contacts you about an emergency maintenance issue, such as a leak or power failure.

Finally, don’t forget about hiring a cleaning crew, even if you’re able to clean your vacation rental yourself between bookings. Professional cleaners will thoroughly clean and sanitize your property before guests arrive.

Optimize Guest Communication

The key to keeping short-term renters happy is to strike a balance between giving them space and staying communicative. For instance, many renters won’t mind if you aren’t present when they check-in. However, they’ll still need to know how to get in touch with you if they have any questions, issues, or concerns.

Good guest communication starts with your listing. Whether you use a popular listing website or build your own, make sure the listing thoroughly and accurately describes the property and pricing. In addition, remember to mention key details such as whether the property has on-site laundry, the number of available beds (and their sizes), and additional fees guests can expect to pay.

You should also be prepared to keep an open line of communication before, during, and after your guests’ reservations. Whether they need to know the WiFi password or discuss their final bill, a quick and patient response will help to secure good reviews and future bookings.

Offer Amenities

There is plenty to do in Breckenridge, and those attractions fuel the tourism industry in Summit County. If all you provide is a clean, comfortable, and safe place to stay, you’ve done your job as a vacation rental owner. Yet, what if you want to go above and beyond?

Offering amenities can enrich your renters’ experiences in your home. This can be as simple as providing complimentary beverages and snacks. Or, you can take a more elaborate approach and offer on-site perks such as hot tubs, Bluetooth-enabled speakers, smart televisions, and even discount codes for local eateries.

As mentioned, Breckenridge has a competitive vacation rental market. Great amenities are one way to make sure your home stays at the top of the local list.

Hire Alpine Edge Property Management

Whether you live in Breckenridge or halfway around the world, you may find that managing a short-term or long-term rental is more work than you’re looking to take on. This is especially the case if you reside elsewhere for most of the year.

When you hire a Alpine Edge property management, you can rest assured that your home away from home is expert, experienced hands. A team like ours will take care of everything from marketing to maintenance, so you can enjoy all of the benefits of owning a vacation rental without any of the stress.

At Alpine Edge, we cater our property management services to clients’ expectations and needs. No service is too big or small, and we go above and beyond to ensure every guest is happy.

Need Help Managing Rentals in Breckenridge?

Whether you’ve owned property in Breckenridge for years or are new to real estate investing, we’re glad you’re here. Now, it’s time to manage your new home! From obtaining the proper licensure to fine-tuning your listing, there are a few important steps that homeowners can’t afford to miss.

The good news? You don’t have to do it alone. Our team at Alpine Edge is here to help you keep your property in great shape and provide a positive renter experience every time.

Ready to sign up for Alpine Edge property management? We provide both short-term and long-term services designed to meet your needs. Contact us today, and let’s get started.

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Why Hire A Good Property Manager For Your Airbnb?

Why Invest in Professional Property Management For Your Airbnb?

Don’t Have Time To Maintain Your Rental Property or Airbnb? Hiring A Good Property Management Company Could Help You Maximize Your Profits.

Do you own an Airbnb or rental property you don’t have time to maintain? If so, you already know it can be an incredibly overwhelming and time-consuming endeavor. In fact, it’s almost like having a second full-time job!

That’s why investing in professional property management for your Airbnb or rental property could be the best decision you make. Here, we’ll discuss why making this investment is so beneficial. Keep reading to learn more!

Let Alpine Edge Handle All Your Property Needs

From home check inspections to maintenance services and beyond, Alpine Edge Property Management has you covered. Take the hassle out of property ownership – leave it in our capable hands.

Home Inspections Done Right

Alpine Edge provides detailed inspections of your Airbnb on a regular basis, giving you the peace of mind that comes with knowing every aspect of your property is accounted for. Our emergency services are available 24/7 to ensure the safety of guests and property alike. With years of experience in the industry, we guarantee a top-notch management service in Breckenridge, Colorado.

Maintenance Services That Go Above And Beyond

When a hot tub needs fixing, you can depend on us to get the job done. Our team of experts specializes in seasonal and annual maintenance for all types of properties, so you can enjoy your space worry-free.

Customized Services For Everyone

At Alpine Edge, we understand that every owner’s and tenant’s needs are different – which is why we offer personalized services for each and every client. From small repairs to big projects, we’ll make sure your property gets the attention it deserves.

Good Property Managers Provide Comprehensive Services to Facilitate Seamless Operations During Your Absence

If you anticipate a period of time when you won’t be able to attend to tenants during peak seasons, Alpine Edge is dedicated to ensuring that your rental runs efficiently and offers exceptional guest experiences in the meantime.

Our property managers are knowledgeable about local rules and regulations, so you can be sure that we are compliant with relevant state and federal landlord/tenant responsibilities. Moreover, Alpine Edge is insured and licensed, meaning any liabilities incurred under our watch will not fall on you.

In addition to being up-to-date with regulatory matters, we have a better understanding of the local area than most anyone. We understand what activities are suitable for each season, even when the mountains don’t have snow – so Breckenridge is still an excellent vacation destination!

Enjoy Hassle-Free Property Management with Alpine Edge

Is managing your rental properties becoming too time-consuming? A good property management company will take the burden off your shoulders with professional property management services. With Alpine Edge, you can enjoy a stress-free Airbnb or rental experience and unleash an extra source of income!

We understand the importance of having a reliable team to handle all your rental and maintenance needs. From selecting qualified tenants to handling repairs, Alpine Edge Property Management is here to provide the highest quality of service for your Breckenridge vacation home.

Say goodbye to the worries that come with property management and get ready to experience the better things in life! Get in touch with us today!

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Hiring a Property Management Company: 7 Mistakes and How to Avoid Them

Are you struggling to vet renters, juggle maintenance requests, and fill vacancies? If you own Breckenridge rental properties, you could stretch yourself thin with such a long to-do list. Instead, consider hiring a property management company this year.

There are over 296,200 property management companies in the US, though. Hiring the first one you call could leave you with a team that lacks the property management experience you need.

Discover what mistakes to avoid when vetting your options for management companies today.

1. Not Prioritizing Experience

Prioritize finding a company with years of property management experience. Determine how long the company has run and operated. Consider how long they’ve managed Breckenridge rental properties, too.

A company with some longevity can leverage their experience to your benefit. These companies often have detailed plans to ensure efficiency. You won’t have to worry about operational issues or the company shutting down after a few months.

Meanwhile, partnering with a company that has years of hands-on experience and expertise can help you make smarter decisions regarding your lodging rentals.

For example, you can lean on their expertise regarding:

  • Accounting
  • Emergency responses
  • Legal
  • Maintenance issues
  • Vacancies
  • Evictions

Relying on the company’s valuable expertise can help you avoid costly mistakes. These companies have already learned from their prior experiences.

Chances are, there’s nothing these companies haven’t encountered in the past. They’ll know how to navigate any problems that might arise. Leveraging their expertise can help you find efficient, effective solutions to any problems you encounter.

2. Never Questioning Availability

Ask each property management company how many properties they currently manage.

There’s no right or wrong answer to this question. A company with a smaller portfolio of properties will have more time to dedicate to your Breckenridge properties. Their availability can ensure a quick response to any problems you’re facing.

These companies can also provide more personalized experiences.

However, smaller companies sometimes face issues that affect their ability to help. For example, companies with smaller teams are often spread thin. It could take them longer to respond to your calls.

Larger companies, on the other hand, are equipped with larger teams. Their employees often cover different areas of expertise. Larger management companies also have access to more expensive resources.

These teams might have more experience overall, allowing them to provide better service.

Ask each property management company about their availability. How long does it usually take for them to respond to a call or email? Determine what contact methods they use (email, phone, online portals, etc.) as well.

Look for a team with fast response times.

3. Forgetting About References

Request references from each property management company. Their client testimonials can help you determine their ability to meet your expectations. Choosing a company that already has a glowing reputation can also give you peace of mind.

These companies will strive to maintain their reputation by offering clients the best possible services.

4. Neglecting Services

Determine what services are included under each management company’s contract. Look for a full-service property management company to avoid outsourcing to multiple businesses.

Their services might include:

  • Strategic planning
  • Tenant screening
  • Home check inspections
  • Listing properties
  • Rental property maintenance

Look for a company that provides additional services at your request. Confirm the company will tailor their services to meet each homeowners needs. Finding a company that will strive to meet your needs and expectations can save you from stressful situations in the future.

For example, how do they handle screening renters or tenants that are late paying their rent? The cost of evicting someone could cost as much as $5,000. A property management company that thoroughly vets potential renters can help you avoid evictions.

5. Not Discussing Qualifications

Ask for a list of the property manager’s qualifications before they begin working with your rental properties. Confirm they have the necessary training to deal with any complications that arise.

For example, perhaps the company offers employees associate education programs and board member training.

Make sure your property manager is informed of new laws and regulations to ensure your property remains compliant.

6. Failing to Ask for Updates

Make sure the management company intends to communicate with your regular. Ask if they have a schedule that includes monthly reports and statements.

If they don’t provide you with regular updates, you might not learn of a problem until a snowball effect has occurred, leading to expensive complications. Instead, look for a company that’s responsive to your needs and concerns.

Consider how they communicate with renters, too.

7. Never Reviewing the Contract

Request a copy of each management company’s contract. Determine how long the duration of their contract lasts and if there are penalties for ending the contract early.

Reviewing the terms of the contract will ensure you don’t incur any penalties or neglect to consider hidden fees. If you have any questions regarding the contract, ask before signing the agreement.

Ask more than one property management company for an itemized list of the services they offer. Comparing property management costs can help you determine the industry average for services. Don’t rush to choose the cheapest option available, though.

Instead, review your list of options for property management companies and the notes you’ve gathered. Look for an experienced team that offers the distinct resources and services you need. Their comprehensive services can help you save time, money, and stress.

With their help, you can generate more revenue from your Breckenridge rental properties without going over budget.

Avoid Mistakes When Hiring a Property Management Company

Making these mistakes when hiring a property management company could leave you feeling disappointed. The right management company will help you make the most of your lodging rental in Breckenridge, CO. With their help, you can choose a company that has your best interests in mind.

Find a management company for your Breckenridge rental properties today.

Want to streamline your search? We’re here to help.

Contact us today to learn more about our property management services.

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8 Advantages of Working With a Summit County Property Management Company

You did it. You bought your dream Summit County property. Now, it’s time to start making a lifetime of mountain memories!

When you’re not at your favorite getaway, have you considered how you’ll keep it safe, clean, and properly maintained? It can be overwhelming to handle all of those tasks yourself, especially if you’re far away.

When you trust a Summit County property management company like Alpine Edge to take the reins, you can rest assured that your beloved retreat is always in great hands. Today, we’re sharing eight advantages to going this route, and how you can get started today.

1. Routine Home Check Inspections

If you can’t be at your vacation home all of the time, you deserve to rest assured that everything is safe and secure. That’s why our team performs routine home check inspections as part of our property management services.

Once we complete a detailed inspection of your home, we’ll share a complete breakdown of our findings via convenient, real-time electronic reporting. This way, you’re always in the loop.

We also know how valuable peace of mind can be, especially when you’re away from your home. That’s why we also offer on-call, 24-hour emergency service. You can be confident we’re always here when you need us.

2. Preventative Maintenance Services

There are many amenities inside and around your Summit County home that may require regular preventative maintenance, such as your hot tub.

We’re happy to inspect these areas and make sure they’re working just like they’re supposed to be. We can also perform general repair services as required to correct minor issues and prevent them from snowballing into bigger problems.

Our team can provide both seasonal and annual home maintenance to keep your systems working, prevent breakdowns, and ensure everything is up and running when you’re ready to use and enjoy your property.

3. Less Time, Money, and Stress

Your mountain retreat should be a place of total bliss and relaxation. You shouldn’t have to feel stressed when you think about all of the time and money required to upkeep the property.

Homeownership can be challenging, especially when you don’t live in the home full-time. Expert property management services can make all of these tasks such more bearable. You’ll always have a local set of eyes that you can trust to oversee and tend to your space.

This gives you the peace of mind you need to focus on your personal life and work endeavors. We’ll handle all of the stressful details so your home can remain the peaceful oasis it was always meant to be.

4. Support From a Local Resource

At Alpine Edge, we’re closely familiar with every aspect of Summit County. We know what the neighborhoods are like, which sections are the busyest, and how to navigate the local roadways. This means we’ll be able to reach your house with ease, whether we’re performing a routine repair or addressing an emergency issue.

If you’re going to allow a property management company to keep an eye on things while you’re away, it should be one that’s built a trusted reputation in the area you call home. Our team has an unmatched level of knowledge when it comes to the Breckenridge community. We also know the local real estate market like the back of our hand, and can help keep your home beautiful, marketable, and exceedingly comfortable.

5. Improve the Value of Your Property

Whether you plan to stay in your Summit County home forever or just a few years, it’s always a good idea to increase the resale value any chance that you can.

The reality is that a well-maintained home is simply worth more than one that has been allowed to fall into disrepair. This can happen to vacation properties that are only used one or two times each year.

A property management company will keep your home fresh, clean, and in great working order. No matter how frequently you’re able to visit, you’ll know that it’s beautifully kept-up and ready for your return.

6. List Your Property

Do you plan to rent your Breckenridge home out while you’re not using it? This can be a great way to make passive income! However, setting up a short-term rental can be a complicated and complex process, especially if you aren’t closely familiar with the real estate industry.

It’s all too easy to make a misstep, but the right partner can make a world of difference. A good property management company will have a reliable, verified screening process in place to make sure the only renters who are allowed on your property are ones who will:

  • Respect it at all times
  • Minimize all types of wear and tear
  • Avoid issues or conflicts

These companies know how to identify red flags before they occur, and will work to make sure only the best, most qualified individuals are allowed to rent your home.

7. More Personal Free Time

When you hire a property manager, your time is yours again! You’re now free to travel anywhere and pour into your personal and professional life, without worrying about dealing with renters, scheduling repairs, or attending regular inspections.

There aren’t any late-night emergencies to contend with, and you’ll never have to worry about chasing down your rental payment. If anything needs repair, we’ll take care of the steps involved in finding a contractor, scheduling a visit, and completing all of the necessary paperwork.

We’ve got you covered, so that joy you feel on the mountaintop doesn’t have to leave as soon as you drive away.

8. Personalized Customer Service

Do you need a service that you don’t see described herein? If so, just let us know! We’re committed to your long-term satisfaction, and we can provide a range of different property management services depending on your needs.

We offer a premiere level of responsive customer service, and we can tailor our approach to meet your unique requirements. No service request is too big or too small, and all you have to do is ask.

Learn More About Our Summit County Property Management Services

If you’ve decided to put down roots in Summit County, you know what a special place it is. You’ll want to return to your mountain home as often as possible, and we totally understand! In the meantime, we’re here to keep things running in between visits.

Alpine Edge is a leading Summit County property management company, with years of experience in this realm. We love the charming town of Breckenridge, and we want to help our local homeowners succeed!

To learn more about the services we provide, feel free to reach out to our team today.

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How to Find the Best Breckenridge Condos for Rent

How to Find the Best Breckenridge Condos for Rent

Whether you’re in Colorado for work or for pleasure, Breckenridge condos offer plenty of reasons to stay. Start finding Breckenridge condos for rent here.

The vacation rental business is booming, with over 1.3 million properties available in the US.

What does this mean for you, the soon-to-be-traveler? You may find yourself quickly overwhelmed by options, especially in popular vacation destinations like Breckenridge, Colorado.

How can you find the best condo accommodation for your upcoming trip? Here are some important factors to consider as you browse Breckenridge condos for rent.

Location, Location, Location

The location of your vacation rental will make or break your trip.

If you’re hoping for a quiet mountain getaway, you won’t be happy in a condo located over a busy bar on Main Street. On the other hand, if you want easy access to the best restaurants and nightlife, you might prefer a central location over a cabin in the woods.

Take a look at your itinerary and prioritize what you want from your accommodation. Do you need a quiet space to work or relax? Would you like a ski-in ski-out property to maximize your time on the slopes? Or would you prefer to be right in the center of the action downtown?

Travel During Off-Season

If possible, schedule your visit outside of the busiest travel weeks. During the ski season in Breckenridge, these include the Christmas holidays, President’s Day weekend, and spring break weeks.

You’ll find more choices for accommodation and lower prices if you have some flexibility with your travel dates. You’ll miss the holiday crowds if you book your stay during January, for example.

Or, since the mountain usually stays open until Memorial Day, why not try a ski vacation after the Easter rush? Bonus: It will be a lot warmer too!

Consider Perks & Amenities

Next, make a list of “must have” amenities and another list of “would be nice to have” items. Items on your “must have” list might include pet-friendly accommodation (if you’re traveling with your dog) or a parking space for your rental car.

After that, think about what you want out of your condo rental. Do you want a gourmet kitchen to prepare meals every day, or do you plan to dine out? What about items like a hot tub, fireplace, laundry facilities, or a mountain view?

Decide in advance which amenities you need and which ones are optional. This will help you narrow your search and find the perfect property faster.

Check Reviews & Ratings

As you browse potential rentals, look at reviews from past travelers. This will give you a better idea of what it’s actually like to stay at the property.

Did they rave about the easy check-in or the newly remodeled kitchen? Did they mention how easy it is to get to the highway, the grocery store, or the airport?

Pay attention to any negative comments as well and use this feedback to make an informed decision.

The Best Breckenridge Condos for Rent

Whether you’re traveling for pleasure or business, your condo accommodation can make or break your experience.

Don’t leave your Colorado vacation to chance. Alpine Edge proudly offers the best Breckenridge condos for rent to suit every type of traveler. From cozy downtown studios to luxury alpine cabins, we have the perfect property for you.

Click here to browse our current list of Breckenridge vacation rentals.

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How Does the Governance of a Homeowners Association Work?

homeowners association

Chances are you live somewhere with a homeowners association, but how are they led and governed? Check out this handy guide to find out.

Did you know that 62 million people live in an estimated 315,000 association-governed communities–and seven out of ten people are very happy with their communities?

A homeowners association is so much more than a group of people deciding what trees are allowed on your front lawn. It’s an investment in the well-being and happiness of your entire community, and it all starts with great governance.

Here’s a closer look at roles in HOA boards and how those roles fit together to achieve successful HOA governance and positive outcomes for the whole community.

What is a Homeowners Association?

A homeowners association, or HOA, is the governing organization of a subdivision, planned community, or condominium building. It makes and enforces rules for all members, which are all homeowners within the community. It’s a bit like an apartment building’s management company in that respect, except that HOAs are run by volunteer members who live in the community.

Roles in HOA Boards

HOAs always consist of HOA boards, which are the Association Manager and the Board of Directors. The Board of Directors consists of a president, vice president, secretary, and treasurer, though some HOAs may add other roles depending on the needs of their community.

Association Manager

While the HOA is largely comprised of volunteer members, the association manager, sometimes called the community association manager, is the only professional role in the group. They may be hired by the Board of Directors or the property management company.

The manager’s role is to provide a professional counterpart to the rest of the HOA, primarily in an advisory role to offer administrative, operational, and managerial counsel to the Board. Since the Board is comprised of interested volunteers, this role is essential to deliver professional property management that homeowners expect.

They also help facilitate day-to-day operations of the community, which is where their connection with the property management company comes in. Because they’re a paid professionals, they know how to advocate for professional services that the community needs, like contractors, and they know how to handle various professional aspects of running a community, such as soliciting and evaluating work bids. They also know the latest regulatory guidelines and assist the board in maintaining financial records.

Board of Directors

Working in tandem with the association manager is the board of directors, which generally consists of four roles: the president, vice president, secretary, and treasurer.

The president is the leader of the Board of Directors and the homeowners association as a whole. Think of them like the CEO of the company (if your company were a community). They schedule board meetings, set meeting agendas, preside over meetings to ensure the board stays on track, execute legal documents, and represent the homeowners association board to the residents.

The vice president is the second-in-command–and a more vital role than many people realize. The role varies widely between one Board of Directors and the next, but generally, the vice president’s primary job is to fill in for the president in any of the president’s typical duties. When they’re not doing that, they fill other duties not ascribed to other positions and serve as a liaison between the community, the board, and the president.

The secretary’s job is to keep records on the HOA’s behalf. For example, they record minutes for each board meeting and maintain accurate financial records. When HOA members ask for information, the secretary is the one who provides it.

The treasurer is the most specialized job of the four, since the treasurer handles all incoming and outgoing financial transactions–including financial records for audit purposes. For this reason, the treasurer must be someone with finance experience to ensure all transactions are handled correctly and all records are maintained properly.

How HOA Management Works Together to Achieve Governance

Think of HOA governance like the foundation of your house: remove any structural element and the rest crumble. No individual position runs the whole show. Instead, you need everyone working together to achieve a good result.

For example, while it’s the president’s job to schedule board meetings and plan what each meeting will contain, the secretary is the one who keeps meeting minutes while the president runs the meeting. Or, put another way, the president sets the plan and enforces follow-through, and the secretary verifies that follow-through in real-time.

Similarly, while the association manager is the one who solicits vendor bids, the treasurer has to work with them to manage all transactions and financial records. And if you happen to be audited, the secretary, treasurer, and association manager work together to make sure all the records are in order and made available upon request.

In this respect, high-quality, cooperative HOA leadership is the secret sauce behind successful governance. If you have clean, pleasant common areas, on-time contractors, and swift response to any of your concerns, that’s all to the credit of good HOA governance.

We Make It Possible for HOAs to Succeed

We know that a great homeowners association can make a world of difference in your lived experience in a community. That’s why it’s our job to ensure you get the best results from your HOA, whatever your community looks like.

We provide a full range of expert HOA management services in Summit County, Colorado, from financial management to property management to administrative services. In short, we make sure your community is exactly what you want it to be–and then some.

So if you’re ready to fall in love with your community, get in touch today to find out how our team can strengthen your HOA.

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HOA Governance: The Manager and Board of Directors

Who is in charge of an HOA? You’ll want to know the roles and responsibilities of the manager and board of directors. Here’s your guide.

As a community, you have common interests that drive you forward. A homeowners association ensure those needs are met, offering services that your city or county can’t, stabilizing property values and ensuring that you have access to quality amenities.

The association’s board of directors is what makes it all possible.

Here’s a closer look at the roles that comprise the board of directors and what each board member does to serve the board (and your community) as a whole.

What is a Board of Directors?

A homeowners association is an organization overseeing the interests of a group of people. Homeowners pay fees to the association to maintain individual units, or the entire neighborhood. Apartments, condominiums, and houses may all have homeowners’ associations.

The board of directors is required for the association to function successfully. This is the governing body that makes decisions to drive the entire association forward.

The HOA Manager

Separate but related to the board of directors is the HOA manager. This is not to be confused with the HOA president.

The role of the board of directors is to govern the whole association, ensuring the board and community members remain compliant with federal, state, and local regulations. However, these are all elected, volunteer roles.

The HOA manager is connected to the HOA management company, which is separate from the board of directors. The management company is an outside vendor hired by the board of directors to assist in HOA governance through two core duties:

  1. Providing business advice
  2. Facilitating day-to-day operations of the community

The association manager is a representative of the management company, executing management duties on the board’s behalf. For example, they may solicit and evaluate bids for association services, account for financial activities, supervise contractors, and authorize payment for association services. Essentially, they’re the professional element of the association.

The Board of Directors

A board of directors is composed of multiple roles, all volunteer officials elected by the community’s homeowners at the annual meeting.

HOA board of directors positions may vary somewhat depending on the board, but all contain four positions: the president, the vice president, the secretary, and the treasurer. These roles are responsible for managing various aspects of HOA governance, as outlined in the HOA governing documents which the board enforces.

The President

The HOA president fulfills various duties typically associated with the chief executive officer in a business. Basically, the president is the one at the helm of the ship, keeping the rest of the board focused, organized, and working toward agreed-upon goals.

For example, one of the most basic duties every president has is scheduling, attending, and running board meetings. This is a chance for the whole board to convene and make important decisions, which is why it’s critical to have the right director in charge.

Another key presidential duty is to serve as the point of contact for various association partners. Since they speak on behalf of the board, they’re able to represent the board alongside the HOA manager to potential partners.

The president also fulfills an essential communication role to association members. They let members know about essential board decisions and critical information that association members need to know.

The Vice President

The vice president serves mainly in support of the president. They may not get as much attention as the president, but having a good VP is just as important as having a good president.

Because the VP role exists first to fill in for the president, the VP has a lot of flexibility when they’re not filling in. This means that VPs often cover duties not under the responsibilities of other officers, and if your board is organized into committees, your VP often serves as chairman, or as a representative of the president to the community. They reinforce communication from the president to association members, which can help reinforce a positive relationship.

Secretary

The HOA secretary is the association recordkeeper, tasked with maintaining all official records on the board’s behalf. But the role is so much more than clerical work. In reality, the secretary is one of the most important leadership roles on the entire board.

Homeowners associations must be able to provide information to their members upon request. This is where the secretary comes in. A great secretary will be highly organized and efficient, able to answer any questions and provide any information promptly. The secretary also works closely with the president to create meeting agendas and keeps minutes at the meeting to help the board stay on track.

So whether it’s maintenance history or tracking the board’s goals over time, if you need information, the secretary is the one who can give it to you.

Treasurer

Last but not least is the treasurer, who handles all incoming and outgoing financial transactions for the board. This includes everything from collecting association dues to issuing vendor payments.

In this regard, the treasurer is the lifeblood of the HOA.

The treasurer also serves a critical legal responsibility in maintaining budget and audit records for every fiscal year, working closely with accounting services. That way, the board always has its financial ducks in a row.

While other roles may have more flexibility in terms of the member’s background, the treasurer should be someone with financial expertise.

The Management Partner You Need in Your Community

The board of directors acts on the community’s behalf for the good of the whole. But in order to do that, they need the right partners to fulfill their duties. That’s where the right management partner makes the world of difference.

At Alpine Edge, we approach HOA management services by building long-term relationships with the communities we serve, ensuring the best experience for our communities through top-tier financial, administrative, and physical services. So if you’re ready to take a better approach to your HOA, get in touch today to learn how we can support you.

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HOA Glossary and Definitions

There are a lot of moving parts in an HOA. The best place to start learning how an HOA works is to understand the jargon used by HOA’s and HOA managers. In future articles, each of these major topics will be covered in more detail. Let’s start by looking at the governing Board, beginning with the Association Manager.

Association Manager

The role of the Association Manager is to advise and provide administrative, managerial, and operational counsel to the Association governing body. The Association Manager is expected to:

  • Exhibit professionalism and loyalty to the principal (the Board)
  • Exercise diligence in performing duties on the principals’ 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 by the Association’s Bylaws, recognizing the State agency that supervises the community associations

The Board of Directors

The Association Manager works with the Board of Directors to ensure that HOA members are following HOA rules and benefiting from being part of the HOA. Depending on the management agreement, some of the following responsibilities can be turned over to a managing company.

President

  • 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 controls all meetings
  • Represents the Board before the residents
  • May have nominating, if not appointment, responsibility for all committees

Vice President

  • 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 specific committees

Secretary

  • Prepares and distributes Board and membership meeting agendas, minutes, and materials referred to in minutes
  • Maintains minutes and book on all meetings
  • Maintains book of resolutions
  • Maintains all official records, including official correspondence, contracts, membership roster, etc.
  • Receives, verifies and supports all proxies
  • Attests, by signature, to the legitimacy of certain documents

Treasurer

  • 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

Understanding the perspectives of the various stakeholders in an HOA is very important as each body has its perspective, goals, and objectives. Good communication keeps all the disparate parts working smoothly.

Board of Directors Perspective

  • Maintaining the value of the property and good quality of life for the residential community
  • Governing smoothly
  • Enforces rules
  • Establishing and keeping budget

Homeowners Perspective

  • 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

Managers Perspective

  • Working in balance with homeowners, board, and realities of management companies business (possible friction)
  • Problem-solver
  • Multi-task oriented

GOVERNING DOCUMENTS

As is the case with all governing bodies, there are legal documents that regulate how an HOA works and all the players’ rights and responsibilities. Documents may vary depending on the type of Association (condo, townhome, etc.)

  • All documents that regulate the community life
  • State law
  • Declaration of Covenants or Master Deed
  • Conditions and Restrictions
  • Bylaws
  • Rules and Regulations
  • Plats of Survey and Easement Agreements (may be separate, often included in the declaration)

Basic Condominium/Townhome Legal Documents

  • State Enabling Statute-permits the creation of condominium/townhome form of ownership and prescribes the basis of determining ownership interest, rights and obligations of the owners, duties, and powers of the Association, and the process of dissolution of the condominium
  • Subdivision of Condominium/Townhome Plat-describes the location and nature of the common elements and the units
  • Condominium Declaration or Master Deed-defines the units, common and limited common elements, and is the collection of covenants imposed on the property to provide for:
  • The obligation of each owner to share in funding the cost of association operations
  • The power, authority, and responsibility of the Association in its operations and in making and enforcing rules
  • Individual Unit Deeds-comprises the individual unit deed
  • Articles of Incorporation-creates, the Association as a corporation under state corporate statute and, defines its membership, and sets forth the process for creating the Board of directors, voting procedures, etc.
  • Bylaws-implements, in specific detail, the provisions of the Declaration and the Articles of Incorporation regarding the association operations, including delineation of the meeting process, election procedures, powers and duties, board meetings, committees, insurance requirements, rulemaking, and enforcement process
  • Rules and Regulations-sets forth the operational powers or provisions and the use restrictions adopted by the Association

Legal Docs for Homeowner Associations and the Hierarchy of such Documents

  • Subdivision Plat – describes the location and nature of the common property and the individual lots
  • Property Deeds – comprise the individual lot deeds and the deeds to common property, which give a legal description of the property
  • The Declaration of Covenants, Conditions, and Restrictions-the declaration of CC&R’s is the collection of covenants imposed on all property within the development and provides:
  • For automatic association membership of all owners and the basis for voting rights
  • The obligation of each owner to share in funding the cost of association operations
  • Certain restrictions (architectural control and other rules) on the use of the property and the Association’s enforcement powers
  • Sets forth the power and authority of the Association to own and maintain the common property and to make and enforce rules
  • Articles of Incorporation-creates the Association as a legal entity under state corporate statute; defines the board powers and responsibilities of the Association and its membership; and sets forth the process for creating the Board of directors, voting system, etc.
  • Bylaws-implements, in specific detail, the provisions of the CC&R’s and the Articles of Incorporation regarding the association operations, including delineation of the meeting process, election procedures, powers and duties, board meetings, committees, insurance requirements, rulemaking, and enforcement process
  • Rules and Regulations-sets forth the operational powers or provisions and the use restrictions adopted by the Association

Applicable Civil Rights Laws

  • Prohibition against racial discrimination as stated by the Civil Rights Act of 1866
  • Equal Credit Opportunity
  • Fair Housing Amendments Acts, 1988, applies to the sale of a residence
  • Does not prohibit discrimination by owners, if selling or renting as long as they own three or fewer homes
  • Board is prohibited from discrimination in exercising its 1st right of refusal
  • Association must abide by laws prohibiting discrimination against families with kids
  • Persons with disabilities (at their own expense) must be allowed to make accommodations per the Americans with Disabilities Act, 1993

ACCOUNTING BASICS

An HOA needs to decide how it will manage its accounting. There are two methods: the cash method and the accrual method.

  • Cash Method of Account-income and expenses are only recorded when cash changes hands. Financial reports only reflect cash transactions. This is a relatively simple system for simple situations. Because all obligations are not recorded until cash changes hands, this method does not provide an accurate portrayal of the financial condition of the Association at any given time.
  • Accrual Method of Accounting-keeps track of all financial activities, including revenue as it is earned (as opposed to when it is received) and expenses as the obligation are incurred (as opposed to when it is paid). This makes possible a more accurate determination of the financial condition of the Association at any point in time. Also, this is a better method for multi-year tracking of capital reserves credits and deficiencies. The primary disadvantage is the greater complexity and technical knowledge needed to maintain the records, understand the reports, etc.

Capital Reserves

The Board should repair and replace major capital facilities, buildings, and equipment of the Association. The ideal method of providing for these future expenses is establishing a capital reserves system and budget to assure that such funds are available when needed.

With the knowledge that the future holds predictable major expenditures for repair and replacement of facilities and equipment, the Association could begin the gradual accumulation of funds through a reserve account to meet all or a portion of that expense when it comes due.

Conclusion

There is a lot that goes into building a strong HOA. In future articles, we are going to unpack the topics we introduced here. Alpine Edge is Breckenridge’s premier property manager and HOA manager. Contact us today about your HOA. We’re here to help!

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How to Change HOA Management Companies

How to Change HOA Management Companies

Are you unhappy with your HOA management company and looking for a change? This is a guide on how to change HOA management companies.

Keyword(s): hoa management

 

As a homeowner, working with the right HOA management company can make your life significantly easier. In contrast, though, working with the wrong one can lead to a large number of complications.

If you’re looking to change your HOA management company, there are certain factors that you need to keep in mind. Let’s explore everything you should know.

Why Would I Want to Change?

One of the primary reasons that homeowners wish to switch management is due to a lack of sufficient advice or guidance from their current HOA. For example, your manager should proactively inform you about relevant codes in your state that you need to adhere to.

Similarly, they should get you up to speed on any rules and regulations in your community. In fact, a reputable HOA manager can be thought of as a pillar that allows the board to function correctly.

This especially comes into play during situations that involve compliance violations or comparing prospective vendors.

Other factors you may wish to change about your manager could include a lack of communication or overall inefficiency. To elaborate on this last point, your manager might poorly handle their financial responsibilities, have difficulty exercising the decisions of the board, etc.

How Can I Do So?

Before you are able to change HOA managers, you will need to consult your management contract. As you might expect, things can become difficult if you have a significant amount of time left on the contract.

This is due to the fact that many contracts have a termination clause that dictates when you are able to end a contract early.

For example, your contract might require you to provide a 90-day written notice to your current manager. Otherwise, they could take legal action against you.

In order to ensure that you avoid any complications, it’s best to seek legal counsel during this situation. Your attorney will be able to review your contract and help you make the best decision.

From here, you will need to begin your search for a new manager.

What Should I Look for New One?

What you look for in a new manager will depend on your current needs. It will also depend on the extent of your budget.

For instance, if you only need a manager who can fulfill a few key roles but you also don’t have a significant amount of cash to allocate toward this professional, you will need to take this into consideration during your search. Regardless, however, you should always ensure that your manager has sufficient credentials and a handful of references.

Although it might take a bit of extra time to validate these details, it can save you plenty of frustration in the long run.

Working With the Right HOA Management Is Essential

So, it’s imperative that you choose the right one. By keeping the above information in mind, you will be able to ensure that the HOA management company you work with is the best one for you.

Want to learn more about what Alpine Edge Property Management has to offer? Feel free to reach out to us today and see how we can help.

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What Is a Homeowners Association (HOA)?

What Is a Homeowners Association (HOA)?

What is a homeowners association (HOA)? Here is everything you need to know about living in a neighborhood with a homeowners association.

When you hear the term homeowners’ association (HOA), what do you think? It’s often disheartening to hear people associate the term with “rules” and “regulations.”

Yes, those two exist, but what’s the purpose for them? Their purpose is to create a community that can only be described as something out of a Hollywood film.

When you come upon a community with an HOA that takes their job seriously, you’ll find that the lawns are manicured; the entrances boast bright signage and elegant flowerbeds; the community feels safe and secure, whether it’s nestled into the mountains of Colorado or the shorelines of Miami.

It’s a homeowner’s nightmare to sink their life savings into a house that’s bordered by a hoarder who trashes the entire community feel. If you like to take pride in your ownership, then an HOA may be right for you.

Let’s take a closer look at what it is, what it accomplishes for its community, and how it differs from a property management company.

What Is An HOA?

An HOA is an organization that oversees the common interests of a community of people. Homeowners collectively pay a fee to maintain the individual units and/or the entire neighborhood.

An HOA may oversee individual units if it’s an apartment complex or condominium development. Conversely, it may only serve the development and not the individual units. Or, it may oversee the entire neighborhood, including the individual units and the property.

Typically, the residents elect a board of directors that ensures the interests of the community are being served. You can often tell the difference between communities with a great HOA and communities with either a lack-luster HOA or none at all.

Those with a sound HOA will have well-manicured premises. There won’t be any trash lying around. The houses will appear well-kept and maintain a level of uniformity.

When individuals and families move into a community with an HOA, they agree to abide by a governing set of rules or bylaws. They also pay a monthly fee that will achieve that well-manicured look.

Here are some things a good HOA will do for its community:

  • Work behind the scenes to prepare and present annual budgets.
  • Coordinate special projects.
  • Screen and hire the right landscaping/irrigation companies.
  • Manage pool maintenance.
  • Oversee pest and weed control.
  • Coordinate snow and trash removal.
  • Offer a 24-hour emergency maintenance service.

HOA vs. Property Management Company

An HOA is, by its very definition, an association for homeowners. A property management company, however, tends to manage a property with rental units.

A property management company will still tend to the overall maintenance of the property. But, they’re typically doing it at the behest of the corporate entity or private individual who owns the complex.

You may see properties out there that have both an HOA and a property management company. In this instance, the property management company serves the HOA.

Property management companies will often step in to help the HOA carry out many of the tasks listed above. They may source the best contractors if the condominium development needs a new roof.

The property management company may also be the “face” of the HOA when it comes to collecting fees and handling emergency situations.

So, while the two can work in tandem, the HOA remains the governing force that outlines the bylaws and ensures compliance. The property management company is, in a way, the enforcer of said bylaws.

Benefits of an HOA

Again, when people hear the phrase HOA, they often associate it with rules and regulations. But, isn’t that how living in a community maintains civility and order?

“Rules” are hardly ever a bad thing. Parents make rules to ensure the safety of their children. HOAs have rules to make community living more amenable.

Here are the benefits of living in a residential community governed by an HOA:

  • Your property value should continue to increase because it remained well-maintained throughout the years.
  • Your amenities, e.g., pool, gym, dog park, and clubhouse, should also remain in tip-top shape, making them a joy to use year-round.
  • There may be social events at the clubhouse that will be enjoyable to attend and get you out and about in your community.
  • Property-related issues that fall under the HOAs jurisdiction, i.e., unkempt yards, property line disputes, loud neighbors, or barking dogs, can be mediated by the HOA (which is always far more productive than fighting amongst yourselves).

There can be some serious consequences for those who do not abide by their HOA bylaws. Residents can be fined and even have a lien put on their house if they don’t pay their dues or seriously violate any of the bylaws.

But, if you’re taking pride in the outward appearance of your home, there shouldn’t be a cause for a fine or a fee. The pros of leaving room in your budget for a standard of neighborhood living that’s high will leave you feeling well-settled and cared for.

In summary, a good HOA company will make everyone’s life easier.

Homeowners’ Association (HOA)

And there you have it. We hope this outline of a homeowners’ association (HOA) has settled things for you. When you make the ultimate investment in a house, an HOA can be there by your side to protect your investment.

They can make the difference between driving onto a property with dead shrubbery, faded paint, dilapidated signage, and trash everywhere vs. a property with bright flowers dotting the roadways, power-washed signage, and well-kept homes that stand tall with pride.

If you’re interested in organized living high atop the Colorado Rockies, we invite you to come on over and check out our properties. You’ll quickly see what life in a well-managed HOA looks like.

Here at Alpine Edge, we offer vacation rental homes that are superbly managed, offering the ultimate Breckenridge vacation experience. Each rental home has its own unique charm that lends to the town’s unique voice.

We make it our mission to make sure you’ll never want to leave. When you’re ready to book, be sure to take advantage of any existing promotions and discounts before you book. We look forward to serving you!

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