MGCOne - Online Platform and Marketplace
Uber changed the rider experience! Amazon changed the consumer experience!
MGCOne (Patent Pending) will change both the community living and management experiences!
What is MGCOne?
MGCOne is an all-inclusive online platform and marketplace that unites all community management companies and service providers on one technology platform, allowing them to offer services to community associations. Management companies and service providers can set up and offer their services to all associations on the MGCOne marketplace.
Every community association with an account on the MGCOne platform can view/review all community management companies and service providers in the MGCOne marketplace and switch seamlessly by removing access to outgoing providers and granting access to the incoming service providers. The incoming service provider will have access to all relevant information to start managing the community association immediately. Every community association will own its data, day-to-day management, policies and procedures ensuring operations and services are never disrupted.
MGCOne (Patent Pending) is an all-inclusive online platform and marketplace designed for community management companies and service providers to specifically serve community associations.
This platform is an industry transforming initiative and we look forward to working with all parties (see Benefits for all parties in the Community Management Industry), including investors who share our vision of being the catalyst for this long-overdue change.
Our vision for MGCOne is to be the “Amazon” of the community management industry. The community association is the Prime customer. Management companies and other service providers are the vendors/sellers on the Amazon marketplace.
Community associations are able to subscribe/unsubscribe to services from different providers by granting access to their accounts on MGCOne. They will be able to rate and review community management companies and other service providers on the platform. Management companies can grow their business in the MGCOne Marketplace by reducing their technology dependency and focusing on their quality of service to community associations. Service providers can take over new communities with no setup requirements and start managing community associations instantly after gaining access to their accounts on the MGCOne platform.
MGCOne White Paper
Developers purchase land, build multiple homes and create communities. Once they have completed the sale of all homes within the community, they pass on the responsibility of day-to-day community management to the association. A community association is an entity created to manage common or shared property, protect homeowners' property values, provide certain services to residents, and develop a sense of community through social activities and amenities. All homeowners within the community own a percentage of the association as allocated in the governing documents.
Management of a community association is based on shared ownership by all homeowners within the association. Homeowners elect Board Members (trustees) to manage association business. The elected board members typically engage a management company to manage the day-to-day and back office work. In some cases, the board may choose to self-manage by hiring a community manager and an accounting firm.
Board members seek out management companies to manage their community. They conduct RFPs (Request for Proposal), interview community management companies and select one based on their capabilities (i.e., technology, experience, reputation) to serve the community.
Beginning – 1960s
Community management companies did not have the luxury of technology. Associations were managed using hardcopy bookkeeping and paper records. These companies pitched to potential clients on the value they brought through accuracy of record keeping and the level of service.
Introduction of Computers – 1980s
Computers were introduced into the service industry in the 1980s. Software companies created accounting software and introduced community management companies to desktop versions of accounting systems. Management companies then began the switch to computer-based accounting services to differentiate themselves from the competition.
Advancement of the Internet & Cloud Computing – 1990s – today
In the 90s, software companies began to leverage the creation of the internet and evolution of cloud computing. They started offering accounting applications accessible on the internet and began to leverage the scale of the cloud to expand their services. These applications not only offered basic accounting functions, but automated day-to-day processes carried out by management companies. Management companies began changing to this new wave of internet software to distinguish themselves from the competition.
It is important to note that community management applications or software has evolved to serve the needs of the management company (service provider), not the community associations, who are the ultimate customers.
While software providers meet many community management needs, they remain focused on community management companies rather than community associations. When Board Members look to change to a new management company or other service provider, the community association and incoming management company or service provider face many challenges with the turn over of information and history.
- The community association and homeowners need to switch from the outgoing provider’s system to the new system.
- The association and homeowners need to cancel their existing payment setup and create new ones.
- The incoming community management company or service provider will need to setup all homeowner accounts and association ledgers as new accounts in their software system with no historical record of account activity.
- The community association and Board Members inevitably lose information, history and records stored in the outgoing provider’s system. Starting with a new provider without previous history and management knowledge is a challenge for all parties.
- This lapse in continuity leads to unnecessary time and money spent on catching up which is funded by homeowner dues.
The community management industry continues to evolve, allowing management companies and other service providers to upgrade their offerings for community associations. Although this improvement has been substantial, the technology available today provides an opportunity to radically change how clients are served. We have seen this in other industries such as ridesharing applications, vacation rentals, health insurance and online marketplace.
Every community association is like a service organization, existing to serve the needs of the homeowners. The difference is that most service organizations have technology to manage day-to-day operations, own their data, processes and procedures. This allows for continuity of operations regardless of management changes. This is not the case for community associations. They rely heavily on the technology offered by management companies and other service providers.
It is time for the community management industry to transform and embrace an all-inclusive technology platform and marketplace that shifts the focus back to the community associations; in essence, the customer the industry exists to serve. In this new reality, every community association will own their technology and association information to maintain and achieve continuity of operations.
Developers of a community have the following goals in mind:
- Achieve the highest profit margin
- Offer good value
- Ensure success of their brand and sell future projects profitably
With MGCOne, developers can:
- Offer state-of-the-art technology as an amenity for the homeowners
- Ensure an outstanding living experience featuring efficient community management
- Promote more sustainable living
- Reduce association dues via automation and achieve better sales
- Post transition to community association, preserve reputation and brand – Buyers are eager to share their experiences living in the development
- Ensure the marketing team can efficiently pass post-sales management to the community manager
- Capture and manage all post-sale issues with buyers
Property developers hire professional marketing firms to market new developments. After purchase, new homeowners often approach marketing staff to resolve issues that should be handled by community managers.
With MGCOne, marketing firms can:
- Distinctly manage community management issues while maintaining sales
- Coordinate the closing process with the community manager more efficiently
- Transition property management issues to community manager and association
- Showcase/manage a quality website to market new developments
- Improve sales by offering a quality community-living experience using multiple functions provided by the MGCOne platform
Community associations are collectively owned by homeowners within a community. It is the responsibility of homeowners to cast their ballot to elect board members/trustees who will manage the community on behalf of all homeowners. It is the board's responsibility to ensure the financial and operational integrity of the association.
The board typically chooses to engage with a community management company to manage the day-to-day operations of the association. Successful management of a community association requires the following:
- Active involvement of homeowners in electing well-suited board members with an understanding of day-to-day management, while providing timely and appropriate feedback
- Board members making prompt decisions after listening and capturing homeowners’ feedback and community manager recommendations
- Timely and accurate recommendations from community managers, while ensuring effective communication with homeowners and board members
Homeowners gain the following using MGCOne’s homeowner portal:
- Stay informed of all activities that impact them
- The ability to track their account
- Assurance that their association is effectively managed while protecting their investment
- Active involvement in decision-making and assurance that their ideas are heard by management and the board
- Transparency of community operations
- Ability to easily maintain and update their information
- Understanding of rules and regulations that require compliance as well as the ability to access governing documents
- Simplified communication with the community manager and board
- Reserve/book facility/amenity online
- Manage visitors, deliveries, and other activities online
When renting in a community association, tenants will enjoy being part of their community using the MGCOne tenant portal.
With MGCOne, tenants can:
- Be informed of all community activities that impact them
- Understand and have access to rules and regulations that require compliance
- Easily communicate with the community manager
- Reserve/book facility/amenity online
- Manage visitors, deliveries, and other activities online
Associations are collectively owned by homeowners within the community. It is their responsibility to elect board members who will manage the community on behalf of all owners, ensuring the financial and operational integrity of the association.
Board members usually hire a community management company to oversee day-to-day association activities. The MGCOne platform and marketplace was created to serve and protect the integrity of the community association and provide uninterrupted service to homeowners.
Community associations operating on the MGCOne platform own their data and board members will be able to achieve the following:
- Hire a community management company through the MGCOne marketplace and provide them access to manage the community on the MGCOne platform
- If an association chooses to self-manage, they can subscribe to the services of accounting firms and community managers found in the online marketplace. Once access is granted by the association, these service providers can start their duties immediately
- Use the Board Member portal to access information needed to make well-informed decisions to manage the community. This information is fully accessible to board members, eliminating the need to request community managers to create reports
- If the Board decides to change the management company, they can easily remove access to the outgoing management company and provide access to the new one. The new management company will have access to all relevant association information once access is granted, eliminating time and money spent reworking and getting up to speed.
- When board members turn over, outgoing member access privileges are removed and access to new members is provided. New members will see all historical records with audit trails
- Appoint special committees and track committee tasks using the MGCOne Committee portal
- Provide relevant information to homeowners and tenants via their dedicated portals
- Hiring vendors no longer depends only on referrals from community managers or management companies. Board members can hire vendors from the MGCOne marketplace after reviewing the ratings/reviews by other MGCOne clients
- Can retain and maintain continuity with vendors regardless of community management company changes
- Hire a highly-rated attorney on the marketplace and grant them access to all active and past cases including notes and attachments, leaving no delay in transferring information and no loss of data
- Hire an auditor to complete year-end audits. Once provided access, the auditor will have access to all financial information needed to complete an audit for any year
- Make decisions with homeowner input using any of MGCOne's functions such as surveys, discussion forums, etc.
- Improve communication and transparency of the association's operations with residents in the community
Community association management often appoints different committees to help manage community projects and tasks.
Committee members will be given a dedicated MGCOne portal to help them effectively achieve their objectives:
- Interact with all parties - residents, board members and community managers
- Keep easily accessible records of all committee-related activities
- Conduct opinion surveys with relevant parties to complete tasks
- Conduct online meetings as needed
- Distribute information and communicate with the community as needed
- Management may remove access to outgoing members and grant access to incoming members
- New committee members can pick up tasks with no delay, as all details are retained in MGCOne
Community Management Companies
Management companies can list their services on the MGCOne marketplace and offer services to all community associations on the platform.
Here are some of the ways community management companies benefit from the MGCOne platform:
- Shift the focus to quality of service to differentiate from competitors rather than on technology platform
- Ability to change accounting systems with no negative impact on business
- Can outsource any function the company no longer wishes to manage e.g., accounting, maintenance, etc.
- Onboard new communities easily by gaining access to the association and necessary information on the MGCOne platform and start managing the association immediately with no new setup required
- Can change payment providers easily by subscribing/switching to new payment providers on the MGCOne platform
- If ending a contract with a community, MGCOne makes it simple to transition over to the new management company with limited handover requirements
- Fully automate day-to-day activities and eliminate expensive and time-consuming manual procedures
- Significantly improve management oversight and client satisfaction
- Managing a preferred vendor list is no longer needed as all vendors are listed and rated on the MGCOne marketplace
- All parties have a portal on MGCOne providing full transparency and visibility of community association operations, hence requiring no additional communication or information sharing
Accounting Software Application Providers
Accounting software application providers offer their software for community management companies to meet their accounting system requirements. As a management company increases their client base, the accounting software provider also makes a profits. But the reverse is also true, i.e., as a management company loses clients, accounting software providers also lose that profit margin. There is a direct correlation to the gains/loss of the accounting software provider with management companies.
MGCOne is enabling a change in this dynamic by providing a platform that allows accounting software application providers to retain community association clientele regardless of changes in management companies.
In the MGCOne marketplace, community associations will be able to directly subscribe to the accounting software application provider thereby removing the dependency on the management companies, and own their information and records. Every time a community association changes a management company:
- The marketplace has established controls to allow community associations to switch control by providing /removing access on the platform
- The outgoing management company will hand over the association data to the incoming management company
- The incoming management company will take over the association with full data and records to start managing them instantly
Thus, resulting in:
- No setup changes are required by the management company or community association
- Accounting software application provider will continue to retain the community association clientele
- Direct relationship with Community associations and management companies
- Accounting software applications on MGCOne will benefit in the long run, as Community associations and management companies will prefer to work with vetted accounting software providers on the MGCOne platform
Payment Service Providers
Payment service providers currently market their services to management companies and establish integration with accounting software applications in the industry. This enables management companies to not only offer payment services to the associations, but also automate accounting services via their respective accounting software applications.
However, when an association switches management companies, the payment account gets closed and the payment service provider loses the community association business.
MGCOne is enabling a change in this dynamic by providing a platform that allows payment service providers to retain community association clientele regardless of changes in management companies.
With the MGCOne marketplace,
- Your payment service is connected to an accounting software application. Community associations will be able to subscribe to both the accounting software application and the payment service providers
- When a community association changes management company, the outgoing management company will simply hand over the control of the account to the new management company
- Payment service providers will continue to serve the community association with the same accounting software, hence retaining their business
- A community association signed up for the payment service provider, will not be forced to discontinue the service due to management company changes, but only due to quality of service
Managers offering services to community associations can list themselves as a provider and become available for hire on the MGCOne marketplace. They can manage multiple communities using the MGCOne manager portal, designed to fully automate day-to-day activities and allow increased efficiency and more clients.
Here is how a manager’s service will be simplified:
- Community associations grant access for their communities to managers that will become available in the MGCOne Manager portal
- No additional setup is required; managers will have access to all information needed to start managing the community immediately
- Will be able to access and manage a portfolio of communities from anywhere with an internet connection
- Manage board member expectations easily using SMART objectives
- Have their management services reviewed and rated by customers on the MGCOne marketplace
- Self-employed community managers can offer their services directly to associations on the MGCOne marketplace
Accounting firms or accountants offering their services to community associations can list their services on the MGCOne marketplace. MGCOne integrates with numerous accounting software applications and will fully automate day-to-day activities.
Here is how accounting firm offerings will be simplified via MGCOne:
- Community associations will be able to subscribe to the accounting provider
- Accounting firms can take over books and records from the outgoing accounting provider by simply changing access control on the MGCOne platform
- No additional setup is required and services can begin immediately
- Allow for end-to-end processing efficiencies wherein board members and community managers can view or approve all invoices online with full audit log
- Board members, community managers and auditors will have real-time access to all relevant accounting activities
- Board members and managers can view real-time aged receivables reports
- Homeowners can access their account statements and make online payments without the need to interact with the accountant
- Manage all delinquent accounts and make available for attorneys to check account balances in real-time via the Attorney portal
- Ease of distribution and sharing of monthly financials to board members and community managers
- All financial information that is required by an auditor will be made available in MGCOne to conduct and complete year-end audit
- Ability to generate multiple online management reports eliminating manual work
Maintenance service providers can list their services for community associations on the MGCOne marketplace. All services will be managed using a dedicated MGCOne portal.
Here are some of the functions available on MGCOne:
- Work/Maintenance orders
- Violations and Inspections
- Interact with the residents, community managers, and board members
- Incident reporting
- Shift log
- Management report generation
- Task management
- Vehicle/Pet management
Security/Front Desk Staff
Associations with secured entrances or concierge services often hire security firms and staff to oversee various security needs. MGCOne has dedicated portals for these staff members to simplify their duties and provide complete transparency.
Security firms and self-employed security personnel can list their services on the MGCOne marketplace. Here are some of the functions they can manage:
- Vehicle traffic & related management
- Management of packages
- Maintenance requests
- Shift logs
- Valet parking
- Incident reports
- Interaction with residents and management
- Run various reports for management
- Pet control
Vendors often rely on management company referrals to acquire new business, which can sometimes mean their contracts end if associations change management companies. With MGCOne's online marketplace, vendors can list their services as a provider directly to associations and are able to continue to provide community association services regardless of management company changes. Vendors manage all association-related activities and workflow on the MGCOne vendor portal.
Vendors can achieve the following using the MGCOne platform and marketplace:
- Showcase their services and have associations rate their services on the platform
- Ability to submit proposals on all open bids from community associations
- Easily transition and provide services to association once hired
- Manage jobs assigned by all associations in the vendor portal
- Set up staff within the vendor portal and provide them relevant access
- Submit invoices and track payment status for timely payments
- Upload and maintain all relevant insurance documents to meet associations’ requirements
- Increase clientele by offering services directly to associations
Community associations hire attorney firms to manage the collection process that arises from delinquent accounts, and other legal matters related to the day-to-day management of a community association. Attorney activity often involves managing board members, community managers, and association accounting firms.
Attorney firms can register as a provider on the MGCOne marketplace, directly offering their services to all community associations. All relevant information will be found in the MGCOne Attorney portal.
Attorney firms can achieve the following using the MGCOne platform:
- Manage all collection and non-collection cases within MGCOne
- All decision-makers have access to every case and can provide interactive decisions with a full audit log
- Eliminate multiple reports as all information is available at the case level
- Submit invoices for payment online and track payment status
- Ability to instantly take over all cases with a full audit log and information from the outgoing attorney, eliminating the need for formal turnovers
- Access homeowner delinquent accounts in real-time
- Assign cases to different staff within the firm and manage workflow
- Market services to all community associations on the MGCOne marketplace
- With the Attorney portal, attorneys are able to manage associations that are subscribed to the firm, irrespective of management company
Board members hire independent firms to audit the operation and financial health of the association. Audit firms need to ensure all activity is compliant with by-laws and audit standards. Audits are the only independent process that every association can rely on to understand the accuracy of community association operations.
When it comes time to audit, it's likely that some parties have changed (board members, community managers, accountants etc.), usually leading to information and knowledge loss. Auditors need to find accurate information to ensure their reporting is sound, which can affect a firm's reputation if difficult to execute.
Firms can register as a provider on the MGCOne marketplace, offering their services directly to associations. All relevant information will be found in the MGCOne Auditor portal.
Firms can achieve the following using the MGCOne platform:
- Activities performed by previous/current Board members, Accountants, Community Managers, Community Management companies are accessible and include a full audit log
- All information (payables, receivables, etc.) is visible to, and reviewed by, board members during the financial year eliminating surprises
- Eliminate visits to the association or management company as all information is available online
- Market auditing services to all community associations on the MGCOne marketplace
- With the Auditor portal, auditors can manage all associations subscribed to the auditing firm, irrespective of management company
Functions on MGCOne Platform
MGCOne is a comprehensive platform that offers all functionalities that an association and management company need to meet the industry standard. The listing below details key functions that can be utilized by all 16 different portals on the MGCOne platform.
- 1. Online Payment
- 2. Work Order
- 3. Amenity Management
- 4. Violation Management
- 5. Architecture Management
- 6. Package Tracking
- 7. Visitor Parking
- 8. Homeowner Account
- 9. Homeowner eStatement
- 10. Association Website
- 11. Online Ballot
- 12. Email Broadcast
- 13. Text Broadcast
- 14. Voice Broadcast
- 15. Pets Management
- 16. Vehicle Management
- 17. Community Calendar
- 18. Neighbor Contacts
- 19. Discussion Forum
- 20. Online Survey
- 21. Document Library
- 22. Pool Pass Management
- 23. Manage Compliance Document
- 24. eDoc Sign
- 25. Decision Forum
- 26. Manage Account Payable
- 27. Task Management
- 28. Tenant Management
- 29. Management Company Website
- 30. Resident Email Inbox
- 31. Board Member Email Inbox
- 32. Committee Member Email Inbox
- 33. Property Manager Email Inbox
- 34. Online Meeting
- 35. Conference Call
- 36. USPS Online
- 37. Visitor Management
- 38. For Sale/Rent listing
- 39. Community Albums
- 40. Management Calendar
- 41. Management Dashboard
- 42. Collection Management
- 43. Shift Log
- 44. Manage eForms
- 45. Online Reports
- 46. Performance Management
- 47. Insurance Management
- 48. Vendor Portal
- 49. Auditor Portal
- 50. Bidding/RFP
- 51. Purchase Order
MGCOne integrates with leading accounting software companies and other industry service providers. An integrated MGCOne platform will ensure your day-to-day operations will never be the same again!