Between high maintenance boards demanding rock bottom prices and the difficulty of finding great managers who can handle a full portfolio, your profits are stretched as thin as they've ever been.
You're smart and motivated, so you've already tried the 'low hanging fruit' to make your management company more profitable, like adding additional services and taking on a portfolio for yourself. But those things only go so far.
The old ways aren't working - you cannot sustain a full portfolio and run your business, and it's your business that is suffering.
According to a survey conducted by TOPS Software, 64% of management company executives actively manage communities in their portfolio. When asked how many manage communities on an as-needed basis, that number rose to 82%. That's leading from behind. And you'll keep falling behind unless you can make a change that reduces that burden.
Imagine taking on twice as many communities as you have in your portfolio now without hiring even one more person. That is what the built-in automation tools bring to the table.
Key performance indicators are built-in throughout the platform to give you quick access to important information about your portfolio, banks, vendors, homeowners, etc.
Every member of your team can see every action that's ever been taken in the activity feed. So you eliminate lost time and confusion from poor communications.
Got a new community? No Problem! Import data from Excel files for beginning balances, account history, owners and properties and more! We even give you the templates.
Retaining good staff is key to any organization’s success. Implementing TOPS [ONE] provides labor-saving tools that lessen the load and improve morale for your Accounting and Management staff.
TOPS [ONE] allows you to reduce the effort you and your team are putting into the business of running your communities. With automation in both accounting and management tools, your team (and you) can do more in half the time it would normally take. That frees your managers up to take on a larger portfolio, and you won't need to hire more accounting staff, because they'll have more time to take on additional books as well.
Most importantly, it frees you up to delegate the communities you are personally managing so you can focus on managing your own business.
Mike Bono, President
Looking to hire? Build your management company's dream team with these 15 ready to use job descriptions for community association professionals.
Learn what the organizational structure of other management companies looks like with this informative report on the state of the CAM Industry.