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MANAGEMENT PROGRAM STANDARD SERVICES
In order for Enhanced Management Services to provide quality management, we
must be fully familiar with the property. We recommend a committee or a liaison
be appointed to assist the new management team in gathering of data to enable
the transition to go smoothly.
Initial Report:
Enhanced Management Services, upon taking over a site, will provide:
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A customized detailed inspection report.
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Notices to all owners and residents of new management, including
an account balance statement and an emergency contact sheet.
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Notices to vendors of a change in management.
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A review of existing contracts.
·
Complete the transition analysis form detailing all aspects of
the property.
Staffing:
Staffing of the property will be based on the needs of the property and subject
to the level of services desired. The recommendations on staffing requirements
will emphasize operating efficiency and cost effectiveness.
Supervision of Contractors:
Enhanced Management Services will carefully select and oversee the work of
contractors. We will attempt to keep the need for outside contractors down
to a minimum. When their services are needed, competitive bids will be sought.
If the property prefers its present contractors, we will be happy
to oblige.
Emergency Service:
Enhanced Management Services realizes that emergencies may arise after the
normal business hours. We provide complete 24-hour service, seven-days a week.
Meetings:
The property manager will attend all agreed meetings of the Association.
Property Inspections:
The property manager will conduct regular property inspections. Recommendations
as a result of this inspection will be included in the monthly Manager's report.
Records and Filing Maintenance:
Our office maintains an individual file for every unit owner as well
as numerous files for the general business of the Association.
Work Orders:
All work orders are generated by the integrated accounting/management system.
Work orders can easily be tracked and a history is kept and easily accessible.
When needed, the system will generate an invoice as soon as the work is completed.
If the invoice isn't paid by the end of the month, the amount will be reflected
as a balance due on the homeowner's account.
MANAGEMENT PROGRAM STANDARD SERVICES
Minute Transcription/Typing:
Minutes are a legal document and it is suggested the Association take the minutes,
allowing the manager to concentrate on the meeting take them. Following the
meeting we will have the minutes typed.
Annual Meeting Coordination:
Our office will prepare and distribute all notices of the annual meeting, proxies
and other related documentation, making sure that the notice and the timing
of the distribution complies with the legal requirements of the Associations'
bylaws. Management will attend and assist in the tallying of votes and the
coordination of the annual meeting.
Resident/Tenant Roster Maintenance:
Our office maintains an updated list of all unit owners as resales occur and
sends written requests to unit owners who rent their units, asking them for
the names and pertinent information of their tenants.
Resident Information Pamphlet:
Our office will work closely with members of the Board of Directors and/or
specified committees to prepare and distribute information that is appropriate
for all residents of the condominium community to receive.
Newsletter:
We recommend an individual who resides in the condominium community compose
a newsletter. We will agree to review, type and distribute the newsletter.
Specification/Bid Preparation & Coordination:
Our company will assist in the drafting of specifications and the preparation
of bids, unless the job requires an architect or engineer.
Yearly Management Plan and Calendar:
In conjunction with the Board of Directors, and in consideration of the budgetary
guidelines for each fiscal year, our company will produce a management plan
and calendar which sets forth the objectives of the Association, which
our company feels, it can reasonably accomplish.
Monthly Association Status Report:
On a monthly basis, we will compile a log of all service orders received, the
status of their disposition and a listing of all general services performed
by our maintenance personnel during that month. This information is available
if needed.
Legal:
Our company does not provide legal advice, but has worked with several attorneys
familiar with the intricacies of condominium associations.
MANAGEMENT PROGRAM STANDARD SERVICES
Resales:
Regarding preparation and processing of transfer information, Enhanced Management
Services prepares and distributes resale certificates in strict compliance with
the requirements of the Common Interest Ownership Act. Pursuant to the appropriate
section of the Common Interest Ownership Act, the expense for the preparation
and distribution of the resale certificate is the obligation of the seller.
Standard Operating Procedures Review:
Based on our experiences, we will recommend operating procedures we feel are
the most efficient and effective. Operating procedures of the Association are
continually reviewed in our normal course of business. We also will suggest
procedures we feel should be changed or refined.
Rules and Regulations Enforcement:
Our office will enforce the rules and regulations of the Association in the
manner dictated by the Board of Directors, including the imposition of appropriate
monetary fines permitted by the bylaws.
General Correspondence:
Our office routinely communicates with Board members and individual
unit owners, both by telephone and written correspondence, when it is appropriate
and/or necessary to do so. All pertinent correspondence will be provided in
the management report.
Inspection of Outside Contractor Performance:
The property manager will inspect the work of contractors hired by the Association.
No payment will be made to contractors until the work performed is acceptable
to the Association.
Information Concerning Laws & Ordinances:
We receive both state and local level information pertaining to statutes and
ordinances that affect condominium developments and associations. This information
is passed along to the Board Members.
Building/Amenity Inspection Report:
In addition to responding to specific work orders, maintenance personnel,
in conjunction with the property manager, will perform inspections of the property
and recommend to the Board of Directors that certain preventive maintenance
work be performed.
Board Orientation:
Realizing that Board members are volunteers with their own fields of
expertise, Enhanced Management Services will meet with new Board members so
that they are comfortable in their role.
Administrative Expenses:
The sum of all the administrative expenses allocated to a particular client
will be billed monthly.
STANDARD SERVICES FINANCIAL
Assessment Collection:
Monthly common charges are due and payable on the first of each month. Enhanced
Management Services believes that monthly invoices are the most effective way
to collect assessment fees and to insure payments are made timely. However,
if requested, coupons are available. Return envelopes are always provided.
Delinquency Collection:
Based on the schedule agreed on by the Board of Directors, a delinquency letter
is sent.
The following collection policy is suggested:
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After 15-20 days late charge is levied.
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Invoice is mailed imposing late fees, interest, etc.
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"Notice of intention to refer account to attorney"
is mailed after 45 days.
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Account is referred to attorney for legal action after 60 days.
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Attorney sends demand letter for payment, including acceleration
notice if applicable.
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Foreclosure action is commenced, if owner fails to respond.
Bill Approval/Payment:
Prior to the approval of payment, all bills are reviewed to ensure that the
goods and/or services invoiced were properly ordered, delivered or provided
to our client's satisfaction. The invoice then will be signed by the person
authorizing the work and reviewed and signed by a supervisor.
Tax Return/Audit Preparation:
An independent accountant familiar with condominiums should perform the tax
return for the Association and the annual audit. The Association should retain
the accountant. We will cooperate and fully provide all information requested.
Reconciled Bank Statements:
The monthly bank statement will be reconciled to the books and a statement
filed with the Board of Directors.
Financial Reporting:
Easy to read and understand financial reports will be generated on a monthly
basis. The reports will contain a balance sheet, budget variance report, accounts
receivable, and accounts payable and a schedule of disbursement and delinquencies.
The Association has the option of having reports being prepared on a cash or
accrual basis. Along with the reports is a complete narrative explanation of
the report, copies of correspondence, copies of contracts, status of projects
and items for the board to review.
Budget Preparation:
Enhanced Management Services will provide a detailed budget for the Board or
the Budget and Finance Committee to review, including items suggested by homeowners
or management. We also have designed a sophisticated computer program that
allows the Association to see the effect of a 'what if' on the annual budget
and assessment fees. Charts are available to explain to homeowners how Association
money is spent.
MICR Check:
Computer generated checks from blank check stock increase security, and ensures
that the amount of the check will be consistent with the check register. This
increases accuracy of reports and accounting.
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