Rental Management Program
Tracking rental properties within an Association has long been a challenge to both Management and to the Board. “Managing” those Owners that choose to rent by ensuring they abide by any policies the Association might have regarding renting is even harder. It goes beyond the scope of the Management Agreement, and certainly adds further burden to the volunteer Board member experience. Recognizing this issue, Sharper has rolled out a program that adds the necessary resources to help manage this task, while allocating the cost to those creating it (the Owners that rent). This program is in the form of an Addendum to the Management Agreement. If adopted, it engages our rental management staff and gives the following benefits to the Association. Sharper Management will: The costs associated with engaging in this program is charge to the Owners that rent on an annual basis. As a Board, you have the authority to establish fees – and this minor Owner fee creates an opportunity to better manage the rentals in your community. Speak to your Manager or contact Client Care for more information. clientcare@sharpermanagement.com
Dues Increases – No Resident Wants It; But Every Association Needs It
Most Associations have a traditional calendar fiscal year (January-December), which means soon we will be entering budget season for 2025. It’s going to be a tricky one to navigate and, for many, a tough one to swallow. Back to basics, your operating budget is what sets the “dues” amount that people will pay each month/quarter/annual. Technically, it’s the “assessment” amount, but no one likes to use that word. Each Association is different in what they are responsible for funding; but operating budgets typically account for Looking back on 2024, there’s no doubt that there were a number of budget busters. Material costs continue to rise sharply, making your maintenance projects more expensive. Labor in all trades continues to be an issue, causing increased operating costs to match the increased wages to get workers. The lawn/snow/landscape industry has taken a particularly hard hit with labor and fuel prices. Utility costs are up 9% for electricity, 10% for natural gas, between 5-15% for water/sewer depending on the municipality, and garbage service is up, on average, 15-20% since 2023. And the biggest of them all – insurance.. The insurance market for the multi-family/associations continues to be volatile, to say the least. Renewals going in to 2024 we averaging a 50-70% increase. And that’s if you had a clear claim history. Those with claims, policies were up 200-300% and a trend of carriers dropping/non-renewing clients began. This slope has continued throughout 2024 and the early 2025 picture doesn’t look much better. Carriers are holding their renewal premium until 30-days before renewal – and associations are informed of either non-renewal or double or triple rate increases with little to no time. So how does one budget for insurance in 2025? If you didn’t experience a significant increase this year, doubling your current premium might be wise. Be prepared to special assess if your renewal busts your budget. There was an excellent news story on Kare11 discussing this particular issue. https://www.kare11.com/article/news/local/hail-storms-in-minnesota-lead-to-huge-insurance-price-increases/89-fc714fa1-56dc-42b9-aad8-472ec2ff84a3 So back to budgeting….. No one likes to hear it, but the truth is every year dues should go up. Inflation is real. Things don’t get cheaper. Never truer than today. To stay fiscally health, dues should, at a minimum, go up to reflect national inflation. Looking into 2025; however, you may want to be even more aggressive when considering our current economic climate and state of the insurance market. Perhaps the increases listed above can be a guide as you look at each line item of your budget.
Another Successful Sharper Scramble
Another successful golf tourney in the books! On Friday, July 26th Sharper hosted nearly 200 people for our 8th annual Sharper Scramble Golf Tournament at Boulder Pointe Golf Club. A day designed to celebrate Sharper Management, we brought together the trifecta of stakeholders – our trusted business partners, Sharper staff and valued Board members – for a day of fun, food, fellowship and golf. Thanks to our generous sponsors and people who donated throughout the day, we were also able to generate nearly $10,000 to go towards this year’s benefit – the ALS Foundation. We hope you can join us next year for this annual event. It is free to you as a Board member. Watch for a date to be announced in the winter newsletter and make sure to secure your spot early. It fills fast! To those that attended this year, thank you for joining us and hope to see you next year!
Board Training Opportunity – July 24th
The next session in the quarterly series of Board Training opportunities will be held on Wednesday, July 24th, 6 p.m. at the Wells Fargo Plaza, 2nd Floor Training Room at 7900 Xerces Avenue in Bloomington, MN 55431. The 90-minute session will be led by director of business development and education, Josh Reams, CMCA, AMS, PCAM – and will focus on Governing Documents If you are interested in reserving your spot, please email: clientcare@sharpermanagement.com
Sharper Scramble Golf Tournament – July 26th
Mark your calendar for the 8th Annual Sharper Scramble Golf Tournament, to be held Friday, July 26th at Boulder Pointe Golf Club in Elko. This FREE day of food, fun, fellowship and golf is Sharper’s way of showing our appreciation to you – our valued client – to our Sharper staff and to our trusted vendors. Registration begins at 10 a.m. Shotgun start to the scramble/best-ball format starts at 11a.m. Dinner and an awards banquette to follow the round. If you are interested in securing your spot for the Sharper Scramble, we recommend youdo so soon. Space is limited and tends to fill up fast! To register, email:clientcare@sharpermanagement.com
Communication is Key: Forging Stronger Communities through Effective HOA Communication
The Foundation of Community Harmony Effective communication lies at the heart of a thriving Homeowners Association (HOA). In this blog post, we will delve into the critical role of clear and transparent communication within an HOA, exploring why it is the foundation for building stronger, more harmonious communities. The Significance of Clear Communication in HOAs Clear communication is the lifeblood of any community, and HOAs are no exception. Your community wants to feel heard, and they also want to feel valued, which does not happen without communication. If you are implementing changes, those changes need to be effectively communicated to establish trust along with cooperation. When people feel left in the dark when it comes to changes, negativity and anger can arise, which is never good. It is important to show through your communication efforts a sense of unity among residents to create a healthy community environment. The Impact on Community Engagement When communication is conducted effectively, community engagement improves along with transparency. Residents will feel more inclined to join community events, participate in discussions and create a sense of belonging. This can even open the door to new initiatives created when people feel like they are in a positive environment to want to make positive changes themselves. Tips for Successful Communication Strategies in HOAs 1. Regular Newsletters and Updates: Explore the power of regular newsletters or community updates distributed through various channels. Sharing consistent information keeps residents informed about upcoming events, policy changes, and other crucial updates. 2. Digital Platforms for Community Interaction: Communication through social media and online forums is another great communication strategy. These channels provide a space for residents to voice concerns, share ideas, and connect with their neighbors. 3. Town Hall Meetings and Open Forums: Town hall meetings and open forums create a platform for direct communication between the HOA board and residents. By creating regularly scheduled meetings can improve transparency and address concerns in real-time. 4. Utilizing Email and Text Notifications: Email and text notifications for urgent updates or time-sensitive information is a great way to keep your community informed. These channels ensure that residents receive critical information promptly. Handling Conflict Through Effective Communication Conflict is inevitable, but effective communication can be a powerful tool for resolution. By effectively communicating the rules set for your community, you leave less room for confusion or interpretation and more room for transparency and guidelines. There can come times when conflicts arise internally between other community members and by having clearly defined rules prevents these conflicts from escalating. Building a Culture of Transparency As mentioned earlier, transparency is crucial to maintaining a healthy community and should be considered a cultural cornerstone within an HOA. Setting a culture of transparency, openness and honesty builds trust among residents. In turn, by being as transparent with residents as possible promotes a positive community atmosphere. Elevating Community Living Through Clear Communication Having successful communication tactics lead to running a healthy HOA. By being transparent with your community through various forms of communication, you keep your residents happy and informed. It is not just a necessity but a catalyst for building vibrant communities. Take advantage of multiple communication strategies from newsletters to open forums. Continual communication efforts are required to maintain a healthy community. Ready to elevate your HOA management? Contact us today to learn more about Sharper Management’s HOA property management services. Sharper Management is a locally-owned, mid-sized property management company offering a full-suite of premiere services to the Minneapolis-St. Paul seven-county area.
Sharper Gives Back
Each year Sharper chooses a cause or organization that will be the benefactor of this annual event. MMRF is a wonderful organization that is “commitment to advancing health equity so that all myeloma patients can benefit from the scientific and clinical advances we pursue. Since our inception, the MMRF has committed over $500 million for research, opened nearly 100 clinical trials, and helped bring 15+ FDA-approved therapies to market, which have tripled the life expectancy of myeloma patients.” Check them out at https://themmrf.org/ “Giving back to our community is one of our core values at Sharper Management,” said Dan Cunningham, owner and CEO. “As with any cancer type, Multiple Myeloma is a devastating condition. Unfortunately, it has affected the family of one of our staff in a significant way. They have found a great resource in the MMRF, though. It means a great deal to us to be able to support them and all of the families affected by Multiple Myeloma.”
2024 Sharper Event Calendar
Mark your calendars for the following Sharper events, which are all free to you as a valued client and Board member. Board Training Opportunity – January 24 The first in our quarterly Board Training sessions will be Wednesday, January 24, 2024, 6 p.m. at the Wells Fargo Plaza, 2nd Floor Training Room at 7900 Xerces Avenue in Bloomington, MN 55431. The 90-minute session will be led by director of business development and education, Josh Reams, CMCA, AMS, PCAM. This session will focus on defining associations and association meetings. Topics include: If you are interested in reserving your spot, please email clientcare@sharpermanagement.com 2024 Save-the-Dates Board Training Schedule: January 24 – Board Training: Associations Defined & Association Meetings February 21 – New Client Orientation April 24 – Board Training: Roles & Responsibilities of the Board & Property Management Practices July 24 – Board Training: Associations Defined & Governing Documents July 26 – July Sharper Scramble Golf Tournament August 22 – New Client Orientation & Board Member Appreciation BBQ October 23 – Board Training: Insurance & Financials
Sharper Shines At CAI Vision Awards
Shaper Shines at CAI Vision Awards On Thursday, December 7th, the Community Association Institute-MN Chapter (CAI) hosted their annual Holiday Gala and Vision Awards ceremony. CAI, the international trade organization for community associations and regarded as the national experts in education programs, publications, association governance, advocacy and the accreditation body, holds this annual event to recognize and celebrate managers, business partners and homeowner leaders. Multiple awards were given out for both associations and for individual managers. Nominations are submitted by CAI members and a special voting committee reviews all nomination applications for specific criteria. The awards are a high honor and significant recognition by industry experts, for industry professionals. Sharper is honored to receive the following: Above & Beyond – Josh Fuhreck. Recognizes an individual for substantive achievement in performing tasks and services beyond the typical job description and scope of responsibilities. Josh was the Runner-Up amongst seven nominees. Excellence in Service – Tracy Shaver. Recognizes a manager which goes beyond the call of duty to service the Board and homeowners to make to community a better place. Tracy was the Runner-Up amongst seven nominees. Financial Impact – Michael Miller. Recognizes a manager who positively impacted a community(s) in a significant manner, such as budget management, capital improvement project management, insurance claim navigation, etc. Rookie of the Year – Caleb Robinson. Recognizes a manager with less than two-years of experience, excelling in all aspects of management functions. Caleb was the Runner-Up amongst seven nominees. Advanced Manager of the Year – Kim Schlauderhoff. Recognizes a manager with over seven-years of experience who excelled in all aspects of management functions. Kim was the winner amongst a handful of very qualified candidates. Management Company Support Staff – Anton Graf. Recognizes an individual that supports the operations of a management company on an administrative, financial, etc. level. Anton was the Runner-Up amongst nine other nominees. Association of the Year – This award recognizes an association Board of Directors who members clearly understand their roles and fiduciary responsibilities putting the association’s interests ahead of and above all personal agendas. (Large: 100+ Homes) – Ridgewood Condominium Association – Manager Tom Parsons. Ridgewood tied for Runner-Up in the category. (Small: Less than 100 Homes) – Henley Condominium Association – Manager Kimberly DuPont. The Henley of Edina took home the Award! Outstanding Community – Bearpath Homeowners Association (Manager Dave Garten). This award recognizes an association the values community building. Bearpath was the Runner-Up for the award. In this industry event, which this year had an attendance of over 550 people, Sharper has been fortunate to have a long-list of winners. In 2021 we took home five of eight nominations. 2022 we took home four of nine nominations. Now in 2023 we’re honored with two winners and six Runner-Ups awards. Congratulations to all of the nominees and winners! It was a beautiful night for the industry – and an exciting night for Sharper.
The Ultimate Guide to Successful HOA Management
Homeowners Associations (HOAs) play a crucial role in fostering vibrant and harmonious communities. Successful HOA management requires a delicate balance of effective communication, fair rule enforcement, and robust community engagement. In this blog, we’ll explore the key components of successful HOA management, offering valuable insights for your neighborhood along with making your community feel taken care of. Communication is Key in Successful HOA Management Effective communication is the cornerstone of successful HOA management. Implementing programs such newsletters, community forums & digital platform announcements can help foster an open dialogue in your HOA community. These programs can help improve relationships throughout your community while also keeping them informed & engaged. Rule Enforcement with Fairness and Transparency Fairness and transparency should be at the forefront when exploring rule enforcement. Having clearly defined rules allows for consistent enforcement throughout your community. Creating a balanced approach will help your community respect these guidelines along with a more positive environment. Community Engagement: Building Stronger Bonds Engaging your community helps foster a positive relationship with HOAs. Think about implementing programs such as social events and volunteer opportunities to create a stronger bond amongst your residents. Having a connected community leads to higher satisfaction and quality of life for everyone. Leveraging Technology for Efficient HOA Management Incorporating technology is essential for efficient HOA management. Uncover how digital tools can streamline communication, facilitate rule enforcement, and enhance community engagement. From dedicated HOA management software to online portals, there are multiple tech solutions that can make successful management a reality. Strategic HOA Management Planning for Lasting Success Successful HOA management involves proactive planning. Planning for things such as maintenance, community needs and financial planning can help plan for future success. By creating a well thought out strategy, you can foster an environment for a thriving neighborhood. Conclusion As you navigate the intricate landscape of HOA management, remember that success is a journey, not a destination. By prioritizing effective communication, fair rule enforcement, community engagement, and leveraging technology, you pave the way for a healthy and happy neighborhood. Implementing these strategies can lead to successful community living. — Ready to elevate your HOA management? Contact us today to learn more about Sharper Management’s HOA property management services. Sharper Management is a locally-owned, mid-sized property management company offering a full-suite of premiere services to the Minneapolis-St. Paul seven-county area. Topic post by following us on LinkedIn at https://www.linkedin.com/company/880327.