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Home » Announcements » Company Information » CMG works with HOAs to implement cost-cutting strategies

Announcements

CMG works with HOAs to implement cost-cutting strategies

12/7/2011
FOR IMMEDIATE RELEASE

Community Management Group helps homeowners stay in their homes by working with HOAs to implement cost-cutting strategies

Working with a company like CMG can save HOAs thousands of dollars

 

LAS VEGAS – Nevada has had the dubious distinction of being the nation's foreclosure capital for several years, with Clark County as one of the worst-hit areas in the state. And, as state and local politicians continue down a path of legislative gridlock, one local property management company has taken matters into its own hands, indirectly helping property owners stay in their homes.

 

For all intents and purposes, Las Vegas-based Community Management Group works with local HOAs to manage their communities. However, Community Management Group takes the concept of managing communities to a whole new level.

 

HOAs valley-wide have been hard-hit by Las Vegas’ foreclosure crisis. Economic downturn or not, HOAs are expected to maintain their communities to benefit property values. The cost to do this is the same, regardless of whether each home is occupied and paying its HOA dues. With foreclosures abound, HOAs have experienced dwindling funds and increased pressure to keep property values stable – with no hopes of a bailout coming their way.

 

As of October 2011, one out of every 162 homes in Clark County was undergoing the process of foreclosure, according to RealtyTrac, a leading online marketplace of foreclosure properties. As properties go into foreclosure, community costs are shouldered by remaining property owners, often leading to rising association costs. This, in turn, causes additional hardship on those owners, and many find themselves unable to cope with the unexpected rising costs. This is especially true in condominium communities, where the association costs make up a much greater percentage of home ownership costs.

 

In short, local HOAs need all the help they can get.

 

That’s where Community Management Group comes in. The company was established in 2009 when Las Vegas was already in the throes of the worst recession it has ever seen. From the start, CMG began working with its HOA clients to help them save money where they could.

 

“It’s been tough on these communities,” said Courtney Murphy, president and supervising community manager for CMG. “We immediately began working with our clients to find ways for them to benefit their homeowners while, at the same time, saving money.”

 

To do this, CMG developed personalized strategies for each of the communities it managed. More than just a simple review of annual budgets, the strategies include many out-of-the-box tactics for saving money. These are just some of the many strategies CMG has helped communities develop:

 

  • Smart financial planning helped address vital maintenance issues at several communities – a tactic that resulted in two associations being able to reduce their monthly assessments;
  • Getting beautification grants to supplement association projects, reducing the cost to owners;
  • Setting up monitoring programs that greatly reduce one of an association's largest costs – the water bill;
  • Developing grassroots volunteer programs within communities that encourage homeowners to take ownership of various community maintenance issues, eliminating expensive contractor fees;
  • Taking advantage of little-known rebate programs – when an association was denied a water leak rebate by the local water authority, CMG got involved on the association's behalf and helped overturn the decision;
  • Getting NV energy to install energy-saving thermostats throughout community-managed buildings;

 

With their budgets stabilized, many of CMG's communities have managed to avoid raising association assessments, which in turn has helped many of their owners better cope with costs.

 

"It's not the only solution, and there are many factors that determine if owners are able to stay in their homes," Murphy said. "But in this economy, every dollar saved helps. We're just trying to do our part to help owners in any way we can, even if it is indirectly."

 

Established by longtime Las Vegan Courtney Murphy in 2009, Community Management Group is a Nevada-based community association management company serving assorted planned unit developments in the Las Vegas Valley.

 

Providing top customer service in all facets of its work, CMG works with homeowners, HOA board members and vendors to assist in decisions to maintain communities’ property values and ensure the preservation of associations’ financial health. The company’s services – handled by a team of certified managers – balance fiscal responsibility, cutting edge technology (which is unique in the field), homeowner education and a positive atmosphere for all its clients, from single family and business parks to condominiums and master planned communities.

 

For more information on Community Management Group, visit http://www.cmg-hoa.com/, call 702-942-2500, or follow the company on Facebook at www.facebook.com/CMGlv.

 

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A MORE EXTENSIVE LIST OF WAYS CMG HELPS ITS COMMUNITIES

·         Educating its boards – by giving its boards the tools to make informed decisions, they are able to save money by preparing for the future, eliminating liabilities and potential lawsuits, and can avoid the expense of re-doing projects because they weren’t done correctly the first time.

·         Smart financial planning – CMG has actually reduced assessments for two associations in recent years because they were proactively addressing maintenance issues, saving money and being smart with their budget.

·         Getting grants from the city. There are beautification grants that associations can apply for to help supplement their projects. One of CMG’s associations received the grant and had rumble strips installed, making their community safer.

·         Monitor utility bills – especially water. Water is a huge expense for associations. By doing irrigation evaluations, CMG has helped associations find “problem areas” where prior companies were allowing water to run through irrigation where there were no plants or foliage. CMG just did this for a community and found irrigation lines wrapped around trees, irrigation running at places where there were no plants, etc.

·         Encourage volunteerism from homeowners. One of CMG’s homeowners did a community-wide lamppost painting project. It not only saved hundreds of dollars in labor from another company, but gave the homeowners a sense of pride in the smaller components of their community.

·         CMG saves its HOAs money by not charging for everything they do – they could bill for extra meetings, but if it is a productive meeting and needed, they don’t bill for it.

·         Another of CMG’s associations, had a water leak and there is a water leak rebate program with the water company. The water company denied the request, but one of CMG’s managers went above and beyond to give them spreadsheets detailing the HOA’s history. They then approved the request and recouped about $3,500.

·         NV energy is putting in thermostats for free. They can be controlled over the computer so we don’t have to leave the clubhouse air conditioning on if no one is using the clubhouse. CMG is working with at least one of its HOAs to do this.

·         Develop relationships with vendors. If you have a good relationship with your vendors, they are more likely to help out the association when they get in a bind and not charge for it. For example, CMG has used a landscaping company that will pick up furniture that is left in common areas and dispose of it without charging the HOA. It isn’t part of their contract, but they are working with CMG and the association for the betterment of the community.

·         Gas light conversions can save thousands of dollars every year. Companies will offer payment plans for the labor and materials at the same rate the association was paying for gas expense. It doesn’t blow the budget and communities start saving money in as little as two years.

·         Xeriscape conversions – SNWA rebates for landscaping conversions. CMG handles everything for the HOA, from initial site walks to completing the paperwork to finalized inspections.

·         Chasing insurance claims, either when a vehicle damages a wall or when a homeowner’s HO6 policy is disputing a claim. By chasing them and showing them their responsibility, they have had several insurance companies pay for damages without costing the association any money.

·         CMG also helped another of its associations to apply for grants for signage. The expense was matched, so they received $6,000 in signage for $3,000.

·         CMG worked with an association to take extra steps when replacing their playground padding to extend the life of the padding so they don’t have to replace it as often. In the long run, it will save them tens of thousands of dollars.

·         Another association is doing a roof maintenance program where every seven years the roofs are fully maintained, and they won’t need to be replaced every 25 years as most roofs are. Extending the life of the roofs cuts down on what homeowners have to put into the reserves for future savings.

·         Combine mailings. Instead of sending out two separate mailings, CMG tries to combine them to save on postage. Savings on postage may be small, but it all adds up.

 





Community Management Group, Property Management, Las Vegas, NV

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