Management Services Provided |
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Service
Provided |
Base
Fee |
Additional
Cost |
| I. MANAGEMENT PERSONNEL |
1.) |
Property Manager/Supervisor |
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2.) |
Staffing Plan |
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| II. FINANCIAL SERVICES |
1.) |
Maintain financial records |
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2.) |
Maintain separate bank account |
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3.) |
Assessment collection - statements
Assessment collection - coupon books
Assessment collection – automatic funds transfer |
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4.) |
Bill approval (accounts payable)
Bill payment (cash disbursements)
Evaluate contract fees and purchasing sources |
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5.) |
Emergency checks within 24 hours |
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6.) |
Delinquency follow-up |
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7.) |
Payroll accounting for all on-site staff |
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8.) |
Prepare and file all employer payroll tax returns |
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9.) |
Prepare monthly financial reports
Cumulative month to actual budget balance sheet |
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10.) |
Annual financial reports |
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11.) |
Prepare annual budget by December 1
Prepare multi-year budget projects |
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12.) |
Prepare reserve analysis yearly
Report reserve accounts monthly |
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13.) |
Collect additional/special assessments |
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14.) |
Obtain payment coupon books for payments or mail assessment statements |
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15.) |
Provide ACH collection of assessments |
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16.) |
Assist legal counsel with collections |
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17.) |
Transfer funds to or from Reserve accounts as needed |
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18.) |
Arrange for preparation of tax returns |
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19.) |
Coordinate CPA review/audit |
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| III. ADMINISTRATIVE/CLERICAL SERVICES |
| a. Management Reports |
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1.) |
Attend monthly Board Meetings
Attend annual meetings
Attend special meetings |
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$55 / hr |
2.) |
Prepare management report for monthly Board meetings
Prepare management report for annual or special meetings |
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3.) |
Government report filing |
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4.) |
Maintain telephone/contact log |
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at cost |
5.) |
Prepare correspondence report |
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at cost |
6.) |
Provide comprehensive annual management plan |
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$145 |
7.) |
Maintain current owner/tenant roster
Produce annual owner/tenant director |
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at cost |
8.) |
Establish specs/RFP’s for annual maintenance services |
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9.) |
Obtain bids; execute maintenance contracts |
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10.) |
Administer Capital Replacement contracts |
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11.) |
Perform building inspections |
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| b. Work Flow and Performance Systems |
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1.) |
Coordinate daily operations |
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2.) |
Provide operations manual |
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at cost |
3.) |
Create historical repair and rehab file |
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at cost |
4.) |
Manage Association-owned rental apartments |
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if applicable |
5.) |
Specification/bid preparation and coordination |
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6.) |
Maintain file of insurance certificates for all contractors |
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7.) |
Liaison with professional consultants and advisors |
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8.) |
Processing of information for re-sales and leases |
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$75 |
9.) |
Coordinate owner rehab requests |
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cost plus 7% |
10.) |
Maintain all records and files |
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11.) |
Clerical/support services for Board and committees
Special photocopying
Special mailings |
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at cost
10¢ per
at cost |
12.) |
Document production and delivery |
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at cost |
13.) |
Administer insurance program |
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14.) |
Disaster management |
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cost plus 7% |
15.) |
Apply for scavenger rebate |
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16.) |
Prepare paid assessment letters/certificates of resale |
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17.) |
Respond to Condominium questionnaires |
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18.) |
Process insurance claims |
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19.) |
Prepare violation notices |
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20.) |
Maintain and manage Association website |
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at cost |
| c. Relations with Board, Committees and Unit Owners |
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1.) |
Communication with Board and other residents |
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2.) |
24-hour answering/emergency service |
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3.) |
Working knowledge of condo documents and laws |
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4.) |
Implement and enforce all rules and regulations |
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5.) |
Newsletter: prepare draft, produce and distribute |
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at cost |
6.) |
Plan and prepare annual business meetings |
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