Condominium and Homeowner Association Property Management Services

We have developed a comprehensive program based on thirty years of experience in the management of condominium and homeowner associations. The following scope of services details our strategy on association management:

SCOPE OF SERVICES

1. Planning Services
• Perform a comprehensive inspection of all personal and real property.
• Develop a management plan for the operation of the Association which will include preventive and seasonal maintenance, financial planning, and other on-going responsibilities.
2. Annual Meeting
• Prepare and mail notices, proxies, ballots and agendas in accordance with the requirements of the Master Deed and By-Laws.
• Attend one (1) meeting per year and take minutes, if requested.
• Assist the Board in presentation of the management plan to the homeowners.
3. Board Meetings
• Arrange for and schedule location, date, and time for meetings as called by the Board.
• Prepare an agenda of all items scheduled to be brought before the Board and mail to the Board one week prior to the meeting.
• Provide necessary reference material at Board meetings, including Association minutes, Rules and Regulations, past agendas, past financial statements, etc.
• Provide for each Board Member in advance of the meetingthe following reports:
• Financial statement showing current month and year-to-date expenditures and variances fromBudget.
• Accounts in arrears with notes regarding action being taken for recovery.
• Disbursement summary for current month.
• Copies of proposed contracts needing Board approval.
• Attend monthly or quarterly Board meetings and record, type, and distribute minutes.
4. Operations
• Contract for and oversee the performance of all maintenance work.
• Obtain bids when repairs are above the agreed limit set by the Board.
• In case of emergency, proceed with repairs immediately.
• Inspect all repairs to be sure they are satisfactory before disbursing Association funds.
• Maintain a current inventory of Association property.
• Perform frequent inspections of the Association to determine potential problems and take necessary corrective action.
• Negotiate contracts for necessary services.
• Develop and implement preventive, corrective, and seasonal maintenance.
• Supervise all on-site personnel.
5. General Office Services
• Prepare and mail all Association correspondence.
• Maintain the following files:
• Copies of correspondence to and from homeowners, contractors, etc.
• Original of all meeting minutes.
• All Rules and Regulations.
• Contracts executed on behalf of the Association.
• All financial records of the Association.
• Other files as necessary.
• Research and maintain all data related to transfers of ownership and voting rights.
• Expenses associated with duplication and mailing will be paid by the Association.
6. Financial Services
• Establish and maintain books of accounts.
• Establish bank accounts at financial institutions in a manner to indicate the custodial nature thereof.
• Make timely deposits of Association funds and pay all authorized expenditures.
• Establish individual accounts receivables for the posting of maintenance fees received from owners, within our computer system.
• Assist in performance of Financial Reviews in consonance with Accountants appointed by the Board.
• Prepare and file all local, state, and Federal Tax Returns in coordination with the Association's accountant.
• Pursue the collection of delinquent fees according to the policies and procedures established by the Board of Directors.
• Prepare monthly computerized financial reports for the Board of Directors. The format will be determined by the needs and wishes of the Board.
• Maintain accurate payroll time sheets; prepare payroll checks, prepare and submit the required reports to governmental agencies.
7. Legal Services
• Maintain a liaison with a law firm in order to insure prompt filing of liens and suits.  The Association will be billed by the Attorney for such services.
• Advise the Board when legal advice is indicated; recommend competent counsel, assist in pursuing of all required legal actions.
8. Insurance Services
• Prepare insurance bid specifications; solicit bids; evaluate bids for Board of Directors review and decision.
• Execute insurance contracts as directed by the Board.
• Review, screen, and process all insurance claims.

FINANCIAL MANAGEMENT SCOPE OF SERVICES

1. Annual Meeting
• Attend the Annual meeting.
• Prepare and mail notices, proxies, ballots, and agendas in accordance with the requirements of the master deed and by-laws.
2. Financial - Provide for each Board Member in advance of the meeting the following reports and establish:
• Financial statement showing current month and year-to-date expenditures and variances from Budget.
• Accounts in arrears with notes regarding action being taken for recovery.
• Estimate of outstanding liabilities.
• Disbursement summary for current month.
• Establish and maintain books of accounts.
• Establish bank accounts at financial institutions in a manner to indicate the custodial nature thereof.
• Make timely deposits of Association funds and pay all authorized expenditures.
• Establish individual accounts receivables for the posting of maintenance fees received from owners, within our computer system.
• Assist in performance of Financial Reviews in consonance with Accountants appointed by the Board.
• Prepare and file all local, state, and Federal Tax Returns in coordination with the Association's accountant.
• Pursue the collection of delinquent fees according to the policies and procedures established by the Board of Directors.
• Maintain accurate payroll time sheets, prepare payroll checks, prepare and submit the required reports to governmental agencies.
3. Legal Services
• Maintain a law firm on retainer to render routine opinions (requiring minimal research) on behalf of the Association.  This will be at no cost to the Association.
• Maintain a liaison with a law firm in order to insure prompt filing of liens and suits.  The Association will be billed by the Attorney for such services.
• Advise the Board when legal advice is indicated, recommend competent counsel, assist in pursuing of all required legal actions.
4. Insurance Services
• Prepare insurance bid specifications; solicit bids; evaluate bids for Board of Directors review and decision.
• Execute insurance contracts as directed by the Board.
• Review, screen, and proceed all insurance claims.