Trend Management Solutions Frequently Asked Questions 

1. What are the benefits of working with a professional management company?

A professional management company, such as TMS, provides knowledge of the operations of the associations, the governing statutes, continuity in operations, accurate accounting, expertise in condominium and homeowner association management, and better negotiating power with vendors, contractors and insurance companies.

2. How do we transition to TMS?

Should you decide to retain TMS, our personnel will come to the property or your current management company's office to review and inventory all records. Owner names and account balances are entered into our database and notification letters and current statements are generated and mailed to the owners. This process generally takes two days to four weeks depending on the size of the association.

3. How is the transition of existing vendors handled?

TMS will notify, in writing, each vendor to fully explain our role as management and to notify the vendor of the address and contact changes for the association. 

4. Will the board lose control?

No. The board will continue to function in the capacity of the association's administrators. All professionals, such as the association's attorney(s) and CPA(s) continue providing their services. The board also has control over actions of the management company. Trend Management Solution function is to carry out board directives, provide experienced recommendations, set up documented operating systems and procedures, and establish a level of operations and recorded keeping for the association.

 5. Will the board have to put in as much time?

Although the board ultimately has final authority and responsibility for the operation of the association, TMS provides many useful tools in assisting the board in its decision making, such as monthly management reports, dealing with and coordinating vendors and development of certain non-technical bid specifications, detailed accounting, etc. All of these functions help relieve the board in the day to day operation and management of the HOA or condo.

6. Will the association have to use other professionals?

Probably not, in most cases, a licensed community association manager (CAM) can help with most management operations. In the event of specialized services such as legal services, general contracting, engineering, and other "professional designations," consultants may be needed.  

7. Have TMS ever lost an account?

TMS has an exceptional business retention rate.  Seldom are we are asked to leave a community. There can be instances where there are personality or chemistry conflicts, contractual issues. At no time has TMS ever been asked to leave a property due to association finances, ethical, prejudice, immoral or illegal reasons. 

8. Is TMS considered a contractor, vendor or an employee of the association?

Absolutely not.TMS will be retained as the associations Agent. And as the associations Agent, we are like a partner to them. Yes, we are paid for our services, but also expect our boards to utilize our knowledge, training and expertise in our industry. Many Board members serve with little to no knowledge of the operation of both a not for profit corporation and/or a homeowners (HOA) association or a condominium (COA) association. TMS' role is to assist those members as their Agent in the proper operations of the association and its not for profit corporation.

9. What are TMS's fees for management services?

TMS offers such a diverse collection of services from simple account administration, one time consulting, all the way to full service association management. Therefore, fees are based on what the association requires with regards to services. As stated earlier, each association is unique in its make up and each association has different needs. That said, we do not set fees until we sit down with the Board of Directors and identify what services the association is seeking.