Nobody Wants to Be the Board Treasurer - What Do You Do?

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Sometimes getting someone to volunteer for a self-managed community board position is impossible.

It’s like that scene in a movie where everyone takes a step back and you are left out in front or where you go to the bathroom and everyone voted for you. The most important role and the one with the most work is the Treasurer. But, if your community is self-managed and nobody wants to be the board Treasurer – what do you do?

Plead with the candidate

If they are your current Treasurer tell them it is only for one more year. If it is a candidate tell them it will help them protect their primary investment in life – their home. Tell them they are only filling in until someone new moves into the community with accounting skills and good character. Or if all else fails you can beg them.

Hire a management company

You can hire a management company to do the financial management along with the other duties you don’t need which are included in “full-management”. But you’ll have to find a company that you haven’t fired or heard bad things about. If you can find one you trust you’ll need to increase your budget to pay for the services – going from free to expensive can cause shock.

Hire a company that specializes in condo & HOA bookkeeping

What if there was a service that allowed you to remain self-managed but offloaded the heavy lifting of the monthly accounting tasks? Would you be able to attract a Treasurer if their volunteer workload was reduced? How about if this service was much cheaper than hiring a “full service” management company so you didn’t break your budget? Such a service exists and it performs over 55% of the work of “full-management” at less than half of the cost. This self-management support service handles a host of financial and administrative tasks. If you can’t lure someone into the role of Treasurer. If you don’t want to pay for “full service” from a property management company you may want to investigate working with a company that specializes in condo & HOA bookkeeping / financial management. To learn more about these services you can schedule a free consultation with Community Financials or visit the Community Financials website.

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