Condominium Management Services
* Included in management fees
1) Accounting Functions:
* a) Collection of monthly dues and special assessments when necessary
* b) Follow-up on delinquencies and file liens (Association pays lien & legal fees) when necessary
* c) Provide financial reports and analysis
* d) Submission of year-end report
* e) Accounts payable
* f) Assist accounting firm with preparation of tax return
* g) Consult with Board on investments
* h) Manage reserve account(s)
2) * Prepare annual budget
3) Prepare long term capital improvement plan and provide investment counseling
4) Maintenance of common area (interior and exterior):
* a) Administrative time to solicit contract labor
* b) Employ on-site personnel when applicable (wages are an Association expense)
* c) Site inspections (administrative)
d) Building repairs, compliance and construction supervision
e) Assist when necessary and agreed upon with punch list administration completion
f) Provide 24-hour emergency maintenance
g) Maintenance service to individual owners
5) Insurance:
* a) Bid out insurance coverage per Board instruction
* b) Assist Board with insurance claims
6) Board/Association Functions:
* a) Attend Board meetings (two per year are included) Attend Annual Meeting
b) Distribute meeting minutes and other Association correspondence (mass e-mails included in fees)
* c) Liaison between committees and/or Board and Association members
7) Resident Services:
* a) Welcome packages
* b) Assist with social activities & senior and/or family resource coordination
* c) Group discounts on items that unit owners may purchase
* d) Compliance with ADA and fair housing laws, including Board education
* e) Resident correspondence, excluding mailings
f) Completion of lender or appraisal questionnaires, provide information to real estate agents, new home owners, title companies – purchases and refinancing
* g) Accept, respond and follow-up to unit owner concerns
8) Miscellaneous Administration:
a) Printing of checks, postage & bank fees
b) 24-hour after-hours message service
c) Newsletter (when applicable)
d) Legal fees & web software
