What does a community association manager do?
A community association manager (CAM) works at planned communities like condos, and co-ops, taking care of the shared properties and facilities. Community associations hire a manager or a community association management company to look after the day-to-day management of the association and the neighborhood. The incumbent is in charge of implementing the covenants, conditions, and restrictions (CC&Rs) and making sure homeowners follow the rules and regulations.
What does a community association manager do?
The job of a community association manager is interesting in that the CAM provides expert guidance, high level service, and oversight to community associations' board members. He or she also looks after the business, administration, and operations of the association. The board members are volunteers, whereas the manager is paid for delivering services. Community association managers are responsible for executing the governing documents, with the goal to ensure a greater good for the residents.
The CAM plays an active role in running the day-to-day activities of the association, assisting with budgeting, and taking care of the common areas. The manager is expected to exercise a type of proactive approach to changes in relevant local laws and share the information with the board. The services of property managers also include bookkeeping, financial management, and internal and external communications.
Maintenance: Community association managers are responsible for identifying the requirements for repair, maintenance, and upgrade of shared areas and facilities, and work with contractors to meet those requirements. They oversee the vendor bidding process and supervise the contractors’ onsite, in addition to committing necessary resources, and tracking payments and invoices.
Administrative support: The CAM is responsible for providing administrative services to the board in terms of managing procurements, besides handling vendor paperwork and recordkeeping. It may also include online and face-to-face communication, in addition to creating presentations and correspondence materials like flyers, meeting reports, and handouts.
Financial management and assisting with budgeting: This involves helping the board with budget preparation, managing contracts, and preparing financial reports and statements. Tax preparation, working with attorneys, and selecting a CPA may also be part of the property manager’s duty.
Assisting with board meetings: This includes calling meetings according to the schedules, sending out meeting notices, providing essential reports and materials to the BOD in advance, taking meeting minutes, and collecting data for presentations about the problems that the residents may be facing.
Corresponding with homeowners: The manager’s responsibilities include direct correspondence with the homeowners through email and telephone, as well as newsletters, flyers, postal mail, and signs.
Other duties: The board may ask the community association manager for assistance with making building policy decisions. It would help if you had high level skills in this area to grow in your career. Identifying service needs, managing vendor bids, and supervising the vendor service are other key areas where the property manager’s services may be required.
Other essential duties of the CAM include:
Collecting HOA and miscellaneous fees from the property owners
Doing site and equipment inspections
Ensuring residents comply with the rules and regulations
Resolving homeowners complaints and disputes
Ensuring compliance of all stakeholders with the association’s by-laws
How much money does a community association manager make?
According to the U.S. Bureau of Labor Statistics, community association managers make between $44,301 and $56,254 per year. The average annual salary as of Nov. 2019 was $56,254. Of course, the wages differ from one state to another. In Florida, a CAM makes an average of $57,725 per annum, depending on his/her qualifications.
Licensed property managers with little or no experience start their careers in Florida from $36,500 per year. As your experience level increases, your salary will increase accordingly. The most experienced managers make $132,000 yearly. As part of their compensation, highly qualified managers might also get apartments and other facilities for use.
The salary of a community association manager is expected to grow at a rate of 7 percent for the next eight years. This is faster than the average for many other high-profile occupations. Continuing education and certifications in community association management can help you enhance your knowledge and negotiate a higher salary.
How do you get a CAM license?
Getting a CAM license in Florida is not an easy job. Since the career prospects are bright, the challenge should not keep you from starting your career as a CAM. Taking the required courses will prepare you to pass the CAM license Florida exam.
To get a CAM license, you first need to search for a reliable online school that offers the CAM licensing course. Once found, enroll in the pre-licensing course and start your education. The 16-hour course is a compulsory pre-license requirement in Florida. Once you complete the course, you can submit your application for a license. Next, go through the electronic fingerprints taking process and background check.
Once your application is accepted, you can make an appointment for the online CAM test and appear in the exam. You will get a CAM license upon passing the exam. The test has 100 questions. You must answer at least 75 questions correctly to qualify for a license.