Knowledge, Experience & Integrity
In 1998, Laukka Management earned distinction as the premier Accredited Association Management Company (AAMC®) in the State of Minnesota. The AAMC designation is a testament to Laukka Management’s knowledge, experience and integrity in the community association industry.
As an AAMC, Laukka Management exhibits a specialized level of commitment and expertise throughout its staff. This commitment helps ensure that a community runs smoothly by:
- developing budgets and financial reports to ensure a community prepares for future expenses;
- communicating to homeowners how assessment dollars are spent; overseeing and authorizing payment for services to ensure financial safeguards;
- assisting board members in selecting contractors and professionals who can provide top-notch services for a community;
- performing site inspections to evaluate a community’s grounds and common elements and ensure proper upkeep;
- enforcing community association rules and restrictions fairly, equitably, and reasonably;
directing any community personnel;
- and promoting open communication, fruitful collaboration, and community spirit within the association.
Laukka Management staff members have a solid understanding of all aspects of community association management, including the principles of human resources, contracting, accounting and finance, insurance, maintenance, government relations, board management, construction and common-interest community law.
Laukka Management staff meets the AAMC designation’s comprehensive requirements, which include:
- providing community association management services for a minimum of three years;
- ensuring that the company’s senior manager is certified as a Professional Community Association Manager® (PCAM®);
- maintaining a staff whereby at least 75 percent of the company’s managers hold a PCAM, Association Management Specialist (AMS), or Certified Manager of Community Associations® (CMCA®) certification;
- promoting continuing education for staff members.
An Accredited Association Management Company must meet the Community Associations Institute’s financial management and reporting standards and is required to maintain fidelity, general liability and worker’s compensation insurance and to comply with federal, state, and local laws.
Laukka Management clients are protected with, and benefit by, the financial safeguards required by the accreditation, including:
- the maintenance of separate bank accounts for each client;
- the monthly reconciliation of client accounts;
- the acknowledgement of all investments and disbursements of funds; and
- the monthly receipt of detailed financial reports - including a balance sheet, income statement, budget comparison, and a statement of disbursements and receivables.
Laukka Management also commits to upholding the highest ethical standards. All Laukka Management staff members abide by the strict rules of conduct outlined by the Community Associations Institute’s Professional Code of Ethics, which states that each manager shall:
- comply with all standards established by Community Associations Institute;
- disclose in writing to a client any actual, potential, or perceived conflict of interest;
- refuse any compensation from parties who act or may act on behalf of the client;
- ensure that the client’s funds are not misappropriated, and are returned to the client at the end of an engagement; and
- recognize that all records, files, and books are the property of the client.