HOA - Association Management
We manage Homeowners Associations (HOA) in the greater Chicago area that are 40 units or larger.
- HOA Communities
- Condo Association
- Housing Cooperatives a/k/a “Co-Ops”
To see the areas we serve, click here.
Our Chicago area property managers serve your HOA. We will help your association with management, dues collection, maintenance, enforcement of rules and regulations, and more. For details, see the proposal to your HOA’s board of managers below:
HOA Management Simplified
Welcome to a world where community living is harmonious and hassle-free. This can be the world of Homeowners Associations, or HOAs, when managed properly. Like any other organization, HOAs face their fair share of challenges. From enforcing rules, to managing finances, to dealing with conflict resolution, the list is endless. This can be overwhelming for board members, who are often volunteers with limited time and resources. The need for professional management is critical to navigating these complexities.
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Your HOA's Online Portal
Transparency is essential to building trust within your community. Three Pentacles, PLLC facilitates this transparency through a secure resident portal. Residents can easily access important information such as payment history, condo docks, meeting minutes, and community updates. This transparency fosters a sense of openness and accountability.
Proposal to your HOA's Board of Managers
We manage Homeowners Associations (HOA) in the greater Chicago area that are 40 units or larger. Our State of Illinois Community Association Management Firm License number is 291.000077.
1.
Challenges
Many Homeowners Associations (“HOA”) face problems that can create a large void in their community, issues for the homeowners, and problems for the board of directors. For example, increase in complaints, miscommunication, financial issues and even lawsuits are only the beginning of what can result if homeowner association problems are not resolved. Some common homeowner association problems that are steadily growing among HOAs include but are not limited to the following: (i) Maintaining property value; (ii) Common areas; (iii) Financial issues; (iv) Communication; (v) HOA Rights and Violations; (vi) Pets; (vii) Complaints; (viii) Member engagement; (ix) Parking and service trucks; (x) Investments in technology; and (xi) Change in legislation. In order for a community to thrive, volunteers and active participation of the membership is crucial. No HOA wants to be put in the situation where no one is willing to volunteer. As supporters of the HOA community, we feel it is important to acknowledge common HOA issues, along with effective ways to solve them. It is not easy to be a volunteer, have a full-time job, and manage a family, all at the same time. Sometimes there is simply not enough hours in a day.
2.
Solution
As a member of your homeowners’ association’s (HOA’s) board of directors, you’re tasked with maintaining and leading the community. While serving on the board can be rewarding, it’s a significant commitment that comes with a lot of responsibility. To ease the burden and minimize stress, many boards hire Three Pentacles, PLLC as their professional management company. Three Pentacles, PLLC can help board members successfully fulfill their roles, complete requirements, and assist with duties. Three Pentacles, PLLC will administer the association’s business affairs and support maintenance and accounting efforts, and so much more. If your board is on the fence about hiring a community management company, here are six reasons why you should hire Three Pentacles, PLLC:
(a)
Save time and effort. Some communities may have residents who are able and willing to dedicate their time and talents to self-manage the association; however, it’s a big undertaking and can be a full-time job. Board members are volunteers, and many have families, careers, or other interests that can prevent them from properly managing the association. Three Pentacles, PLLC can lighten the board’s burden and liability, provide peace of mind, and save volunteers time and effort by assisting with: (i) Overall operations and administration of the association, (ii) Contract and vendor management, (iii) Project management, (iv) Insurance administration, (v) Member dispute resolution, (vi) Meeting attendance and agenda preparation, (vii) Building and grounds maintenance, (viii) Budget preparation, (ix) Billing and collections, and more.
(b)
Professional Expertise. Our Managing Broker, Mr. Arthur R. van der Vant, has earned many professional industry certifications and designations. Since 1988, Mr. van der Vant has earned the following real estate certifications and designations: CCIM, CAI, AARE, PRI, CNE, CIPS, CRB, CRS, GRI, ABR, RECS, SRES, and ePRO. Mr. van der Vant also serves as a Court Appointed Receiver in Illinois state and federal courts. He is an associate member of the Chicago Bar Association (CBA), where he serves on several committees. HOA board members can utilize his real estate expertise to stay abreast of the latest developments in the property management and real estate industry and potentially access resources that may not be readily available to the average volunteer.
(c)
Valuable connections. To successfully managing a HOA, it takes a team of highly skilled service providers to get the job done right. Luckily, Three Pentacles, PLLC has existing connections with dependable contractors and vendors that can help the board carry out its directive. From lawyers and accountants to insurance agents and contractors, you can rely on our management company to make connections, solicit bids, oversee the relationship, and manage contracts.
(d)
Consistent enforcement. Enforcing the HOA’s rules and regulations can be challenging for board members and may lead to sensitive and uncomfortable situations with fellow neighbors. Three Pentacles, PLLC can alleviate some of this stress and tension by ensuring the association’s operations follow the requirements within the governing documents. Three Pentacles, PLLC can also make sure that rules and policies are consistently enforced and clearly defined and recommend solutions to resolve owner complaints and compliance issues.
(e)
Improved accounting. While maintaining the financial health of an association is a key board responsibility—it can also be a daunting task. Fortunately, our management company employ’s the latest property management accounting software, ensuring the most accurate representation of your association’s finances while aligning with the highest security and safety standards. Our management company can also handle most day-to-day financial responsibilities, develop a solid annual budget, keep records, and provide recommendations to avoid special assessments.
(f)
Increased community value. It’s easy for board members to get bogged down by the burden and rigors of daily property management. With the support of our professional management company, board members can focus on fulfilling their duties and improving the quality of life in the community. Engaging Three Pentacles, PLLC as your management company offers unique systems, services, and offerings that inherently add value to your community. Smoothly run HOA translates to higher property values.
3.
Cost & Services
Three Pentacles, PLLC will provide services for your HOA for a fee of one hundred dollars ($100) per month, per unit, plus one-time setup fee of $1,000. We provide services in the following areas:
(a)
Communication: Announcement for New Rules/Amendments; Association Letter to Members Introducing New Management Company; HOA Feedback Survey; Notice of Annual Membership Meeting, Notice of Special Meeting; Welcome Letters; Newsletter/Announcements, Special Assessment Letters; Letter of Authorization; Motions.
(b)
Requests: Application for Approval of Architectural Improvement or Modification; Approval of Request for a Reasonable Accommodation; Architectural Review Application Form, HOA Request for Reasonable Accommodations; Parking Application; Reasonable Accommodation / Modification Request Form (Service Animal); Homeowner Request for Copies of Documents.
(c)
Maintenance: Checklist of Common Area Components; HOA Maintenance Checklist, HOA Maintenance Plans; Inspection Checklist; Maintenance Request Form/Letter; Property Inspection Report; Property Maintenance Checklist; Work Order; Maintenance Log.
(d)
Violations: HOA Violation Letter; Notice of Delinquent Assessments; Notice of Fines for Rules Violation; Schedule of Fines; Board Decision on Member Discipline; Board Decision on Penalty Imposition; Imposition of Monetary Charge.
(e)
Elections/Nominations: Board Election Nomination Form; Candidate Nomination Form; Candidate Registration List; Checklist for Prospective Board Member Candidates; Confirmation of Desire to be a Candidate; Election Ballot; Proxy Form; Voting Ballot.
(f)
Accounting/ Financial: HOA Account Receivables; HOA Income Statement; HOA General Ledger; HOA Monthly Balance Sheet; HOA Statement of Account Reserve Study; HOA Audit Checklist; Statement; Levy Notice.
(g)
HOA Board Members: HOA Board Member Recruitment Letter; HOA Board Resolution (Policy); HOA Board Resolution (Administrative); HOA Board Resolution (Special).
(h)
Record Keeping: Annual Meeting Minutes; Board Meeting Agenda; Board Meeting Minutes.
(i)
Budget: Annual Budget; Budget Preparation Checklist.
(j)
Disputes: Alternative Dispute Resolution Letter; Contest Lien; Homeowner Complaint Form.
(k)
Vendors: Vendor Contract; Vendor Documents: Request for Bid/Proposals, Evaluation Matrix.
(l)
Others: Background and Reference Verification; HOA Emergency Plan Checklist; HOA Sample Rules & Regulations.
4.
Conclusion
Hiring Three Pentacles, PLLC as your property management company can be one of the most cost-effective decisions an association board can make. We can reduce stress, maintain a smooth-running community, improve homeowner/board relations, and increase the value of your community.
5.
Next Steps
If you would like Three Pentacles, PLLC to manage your association, we will need to review your governing documents. Please email to info@3pentacles.com the following information along with copies of the relevant documents listed below:
(1) A copy of the original (filed) Declaration, and all amendments to it, if any. The most up-to-date Bylaws, and Rules & Regulations.
(2) Information about any outstanding liens, unpaid assessments, and fines or other charges due to the HOA.
(3) Information about any capital expenditures anticipated by the HOA during the current year and following two fiscal years.
(4) Status and amount of HOA’s reserve funds, reserve studies, and any portion of such fund earmarked for any specified project. Please provide a breakdown of how each of those funds may be spent.
(5) A copy of the current Budget, and a copy of the previous year Budget.
(6) Information about pending lawsuits or judgments in which the HOA is a party, if any.
(7) A list of all known building code violations, if any.
(8) Information about HOA’s existing insurance coverage.
(9) Contact information of board members, the HOA president, secretary, treasurer, and directors, as well as any other relevant parties inside the association (including addresses, emails, and phone numbers).
(10) An Excel List of your HOA’s units. Download the sample Excel file here.
Enhanced Transparency
Is it time to hire a new HOA management company? Experience the future of HOA management today with Three Pentacles, PLLC! Elevate your HOA management with our state-of-the-art services. Streamline operations, improve communication, build better relationships, and save time. Board members have busy lives outside of their board responsibilities, and managing an HOA on top of work and family obligations can be overwhelming.
Online 24/7 portal login for board members & homeowners
Improve resident satisfaction, enhance the overall homeowner experience, and increase engagement by offering 24/7 accessibility, allowing homeowners to submit maintenance requests, pay fees, or access important documents at their convenience.
Cellphone App
Your residents can download the Online Portal mobile app from the App Store® and Google Play™ to more easily make payments, submit maintenance requests and access shared documents from any mobile device. Three Pentacles, PLLC empowers your residents by bringing part of our back office directly to their mobile devices.
Homeowner’s Portal in English or Spanish language
Your Spanish-speaking homeowners can change the language of their Resident Portal to Spanish. Once they change this setting, all payment reminder emails, payment confirmation emails, and other emails triggered by the Online Portal will also be delivered in Spanish.
Financial services management
Homeowners can make online payments via eCheck, Debit Card, Credit Card, in person at any 7/11 Stores, CVS, Wal-Mart, Walgreen’s, or simply mail a check. Managing finances can be a headache, especially for smaller HOAs, but Three Pentacles, PLLC simplifies this process with budgeting, fee collection, and financial reporting.
Live financial data & monthly reporting
Active Board Members have access to real-time, live reporting data within their Homeowner Portal. When viewing a report, board members can customize the filters to display the data they’re interested in. Each report has different filters that apply directly to the data in each report.
Vendor management
We will work with your vendors and/or refer you to trusted vendors we already know. The appearance of a community is a primary indicator of the overall health and vitality of an association and a key factor in member satisfaction and pride of ownership.
Vendor payments with board approvals
Our online vendor portal and mobile vendor app allow vendors to set up payment preferences, view complete work order details, upload invoices, and add notes and photos directly to the work order. Vendors can access their online Vendor Portal from anywhere, on any device, 24/7.
Maintenance and repairs
Homeowners can use their mobile devices to submit maintenance requests, upload pictures, and track the progress of repairs. Three Pentacles, PLLC helps develop and implement comprehensive maintenance programs that allow communities to thrive and operate smoothly.
Violation notices and fines collection
We keep track of violations in your community associations and follow up on those violations by sending letters, collecting fines, or recording communications. The communities we serve take pride in the beauty of their surroundings.
Homeowner’s insurance
We collect and track homeowners insurance information. Homeowners can upload their insurance policy information to their resident portal. Their policy information is automatically populated into our property management system.
Communications (email and text)
With the Email All Homeowners and Text All Homeowners features, we can quickly communicate with all of your residents and respond in real time to changes and emergencies that affect customer service and community life.
Association calendar
We use the Association Calendar to create, track, and manage events for your association. Events can include board meetings, social events, street sweeps, trash days, and more. The visibility of calendar events can also be toggled to suit your desired audience, whether it be internal staff, association board members, or all homeowners.
Homeowner directory
This report pulls contact information, monthly association fee amounts, and more for your homeowners. The report can be customized to show your association’s past, present, and future homeowners.
Shared documents
We can electronically share documents in any format (PDFs, photos, spreadsheets, etc.) with residents through their Online Portal. Homeowners can access the document in the Shared Documents tab of their Online Portal.
Sale of units, preparation of closing documents
A new Illinois law went into effect on January 1, 2023. It affects the disclosures required for a sale in a condominium association. We prepare all necessary documents and provide them to parties of interest.
Background checks on purchasers
We use a private detective agency to perform background checks on buyers. We provide comprehensive, detailed and cost-effective screening services to protect your real estate investment.
WHY WE'RE DIFFERENT
Our guarantees ensures that you have peace of mind knowing that we are working hard for you.
You will have a single point of contact. No more running around from a rep. to a rep. to know what’s going on with your property. You will be exclusively working with a dedicated Asset Manager.
Since 2010, we have been managing properties in receivership for the State of Illinois Courts and the United States District Court Northern District of Illinois.
We have been closely working with attorneys, judges, and banks. Our managing broker is an Associate Member of the Chicago Bar Association and a member of different committees.
We are Real Experts in Real Estate™, experienced in property management, real estate investing, mortgages, title insurance, construction, and real estate law. Obtained the following real estate designations and certifications: CCIM, CAI, AARE, PRI, CNE, CIPS, CRB, CRS, GRI, ABR, RECS, SRES, ePRO.
Don’t settle for a Monday through Friday company, while Three Pentacles is working overtime to facilitates showings of vacant units 7 Days a week!
Our managing broker graduated from an Air Force Academy with an aviation engineering background, which helps us be systems-oriented, focused, disciplined, and able to help property owners turn their properties around.
We perform tenant screening and background checks using a Private Detective Agency.
We combine modern technology, online-systems, and decades of real estate experience with old fashion values. We run this company the way our grandparents taught us: “Anything worth doing, is worth doing right.” TM
Our team has helped landlords across the Cook County, Illinois to get more from their real estate investments. Let us put our expertise and hard work for you, too.
Art holds the equivalent of two real estate doctorates:
(1) In 2000, Arthur became a member of the CCIM Institute. The CCIM designation is earned by completing a graduate-level curriculum and attaining a high level of qualifying experience. CCIMs are recognized worldwide as experts in commercial and investment real estate.
(2) Became a member of the Certified Auctioneers Institute in 2010. A graduate-level curriculum that takes years to complete and requires qualifying experience.
Since 2010, he has also served as an Illinois Receiver, managing properties under the jurisdiction of Illinois state and federal courts.
