WHAT TO DO..

By Rafael Aquino

Published August 7, 2019  

 

No matter where you turn, you will always find someone doing something they shouldn't be doing.  It's a shame because I can't imagine how these individual(s) that cause damage to others can sleep at night.  I guess they must have a heart and head made of stones. 

 

Each of us has to deal with these challenges in our daily lives as well as in our associaitons.  I'm a firm believer that most people are on this planet to do good.  Unfortunately, some make it hard on all the rest; however, it should not change who we are.  We shouldn't assume that all are out to get you because that will not get you anything worthwhile.  Now I'm not saying to be oblivious to a potential threat but rather to place certain safeguards that will help you avoid a pitfall.   So what steps can be taken?

  1. Board Treasurer - Being the Treasurer of the association comes with the responsibility of being the gatekeeper for vendor payments.  This position must be taken seriously and to do so, you should have a keen eye on the invoices your approving.

  2. Two Signors - Two board members, should approve every check that is issued.  

  3. Invoice Approval Process - Your board should have the ability to review and approve invoices online. If it doesn't, you need to get with the times and consider upgrading your system or company. Having the ability to approve invoices online gives your board full transparency for all items being paid. Further, the board will have the ability to check previous invoices, review the GL classifications, see the time it took your management team to process the invoice and most importantly confirm your vendor's insurances are up to date.

  4. Vendors - I urge clients to use reputable vendors that are known to service our industry and have reviews and referrals that back them and their work.

  5. Financial Statements - Review your financials monthly! If your management company or accounting firm isn't providing you with a variance report, make sure to ask for one.  Just like your bank account, you should know if you are up or down for the month and why.   

I'm curious to hear from our readers, what steps is your association taking to avoid any potential threats?
HTML Comment Box is loading comments...

 

 

  

As the Co-Founder and CEO of Affinity Management Services, Rafael P. Aquino leads his team to redefine excellence. They serve community   associations   efficiently

and effectively with dedication and passion. Rafael’s energy and positive spirit is the foundation of Affinity Management Services’ company culture, which instills enthusiasm and excitement when providing expert advice to its board members and relieving the day-to-day burdens of running a community association.

 

Since 2007, Rafael has developed a work culture that values responsive and high-quality services. He has led his team by following a proactive vs reactive philosophy. The same approach Rafael instills in the day to day operations of each association. Today, Affinity Management Services maintains its success and benefits as a result of the foundation Rafael has built and continues to foster by providing educational seminars, continuing education classes for association managers and board members alike.


Rafael and his team help condominium and homeowners’ associations save money and improve their communities. His calm, personable, and service-oriented nature helps him to establish strong relationships with ease. Rafael is known as a sincere and honest leader who looks out for the best interests of his clients and communities, and he strongly advocates for their needs. His role requires coordination and communication, as such he takes logical and intelligent steps to approach challenges head-on.


As a graduate of Florida International University’s electrical engineering program and a licensed community association manager, Rafael’s education and skills equip him with unique insights to tackle complex problems through critical thinking. He understands how each component within a system works together in order to effectively arrive at solutions, techniques, and conclusions. Therefore, as he manages the multiple challenges of running a community association management company, he understands how each property is its own unique system and tailors’ specific services to assure that all their needs are met.

For more information about Rafael P. Aquino and Affinity Management Services please visit www.ManagedByAffinity.com or call 1-800-977-6279

Doral Office: 8200 NW 41st ST

Suite 200

Doral, FL 33166

Broward Office: 150 S Pine Island RD Suite 300

Plantation, FL 33324

O: 800-977-6279 ● F: 305-325-4053

Sign up for Email Updates
Email:  
For Email Newsletters you can trust