Condo Association Management

The single most important factor in the operations of a community association is the communication between the association manager and Board of Directors. It is within the "meeting process" that association leaders and members come together to communicate and exchange ideas, discuss important topics, and conclude by making decisions regarding physical, financial and/or operative issues concerning their community.

Our management philosophy views the Board of Directors as the policy making body of the association. Although we do not make policy, we will act as advisors to the Board when our expertise and experience can add value. As manager for your community, we are responsible for carrying out the directives of the Board. In this way, the board may delegate the day-to-day operations of the Association.

Our Management Agreement is designed to serve as a guide to achieve the goals of the Board of Directors. Its intent is to set policy and minimize misunderstandings that may occur in the daily course of business. This agreement should be regularly amended by the Board according to the changing needs of the Association.

Our services include Financial and Administrative Management.

Financial Management includes, and is not limited to:

• Prepare annual budget and compare actual income and expenses to budget on a monthly and yearly basis.
• Monthly financial reports to be prepared and delivered to the Board by the 10th of the month for the activities of the proceeding month. The monthly report may inlcude:
  
  1. Income and Expense Statement
  2. Budget Variance
  3. Property Inspection Report
  4. Assessment Report
  5. Complaint Report
• Complete bank reconciliation's for every account each month when bank statements are received.
• Maintain an owner roster.
• Receive and process assessment payments.
• Maintain vendor files containing payment information and invoices.
• Provide independent accountant firm with all accounting records needed for end-of-year compilations, reviews or audits.

Administrative Management includes, and is not limited to:

Maintain a filing system of the Association's important papers.
Included would be: condominium documents (Declaration of Condominium, Articles of Incorporation, Bylaws, Rules, Question and Answer Sheet), contracts, insurance policies and other documents.
Arrange for the mailing or distribution of notices required by the condominium documents or directed by the Board.
Assist the Board and its insurance agent in placing the required insurance by providing required information.
As directed by the Board, develop a Compliance of the Rules procedure to enforce the Rules and Regulations of the Association.
Implement a Complaint Report, tracking complaints from directors, residents, tenants, etc. Report shall reflect the status of both solved and open items.
Offer advice and direction to the Board regarding their governing process and responsibilities.
Develop, with Board approval, a screening program as may be required by Association documents for potential new owners.
Coordinate and attend the annual Association meeting and other meetings where voting is to take place.
Prepare notices, nomination forms, proxies, mail ballots and other appropriate documentation and operations which are required to support those meeting.